The Lede

Top National News

New B of A Tool Lets Borrowers Track Loan Status Online
National Mortgage News, June 21, 2016--Passy, Jacob Bank of America's newest service allows consumers to track their loan status online. Called Home Loan Navigator, the new online service can be accessed through the Bank of America Online Banking home page.
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Freddie Mac Sells Off $706 Million in Non-Performing Loans to Private Investors
HousingWire, June 21, 2016--Lane, Ben Freddie Mac announced Tuesday that it agreed to sell more than $700 million in delinquent loans off of its books to a series of private investors, with one familiar buyer snapping up much of the offering.
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Why TRID Makes It Harder for Brokers to Get Best Deal for Borrowers
National Mortgage News, June 21, 2016--Sinnock, Bonnie Mortgage brokers remain perplexed over how to strike a balance between helping borrowers shop for the best deal on a loan and maintaining compliance with TRID.
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Not Just the 1%: The Upper Middle Class Is Larger and Richer Than Ever
Wall Street Journal, June 21, 2016--Zumbrun, Josh Research shows the number of upper middle class households has more than doubled since 1979.
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What to Watch for in Fed’s Stress Tests of Big Banks
Wall Street Journal, June 22, 2016--Borak, Donna Big banks will get a peek over the next two weeks into how federal regulators judge them: whether they are deemed safe enough to endure a severe downturn, and whether they have demonstrated enough prudence this year to raise shareholder dividends.
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Congressman, Mortgage Relief Pioneer Found Guilty on Raft of Corruption Charges
HousingWire, June 21, 2016--Lane, Ben Rep. Chaka Fattah, D-Pa., who championed HUD's Emergency Homeowner Loan Program, and three of his associates were found guilty this week for their roles in a racketeering conspiracy that stemmed from Fattah's failed 2007 campaign to serve as mayor of Philadelphia.
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Are Millennials Having a Noticeable Impact on the Office Market?
National Real Estate Investor, June 21, 2016--Byrne Denham, Barbara; Calanog, Victor An office market conundrum: the job market has been fairly steady, but office occupancy growth has been sluggish. Is it because employers are squeezing new staff into smaller spaces, especially Millennials who are more tolerant of this? Or is there some other cause?
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This Bank Wants to Pay Down Your Student Loans
Bloomberg, June 21, 2016--Nasiripour, Shahien A small Boston bank is betting it can attract tens of thousands of millennials by giving them a chance to pay off their student loans a few months early, rather than offering more common incentives such as interest on their deposits or airline miles for their purchases.
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Fannie Mae Sets New Date for Use of Trended Credit Data
HousingWire, June 21, 2016--Lane, Ben Last week, Fannie Mae unexpectedly announced a delay to the latest update to its Desktop Underwriter program. On Tuesday, it announced the implementation of Desktop Underwriter Version 10.0 is now scheduled for the week of Sept. 24.
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Don’t Blame Lack of Good Homes for all Housing Woes
CNBC, June 21, 2016--Olick, DianaThe biggest complaint in the spring homebuying season was simply that there weren't enough homes to buy. Demand is strong for housing, but listings are low and getting lower.
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GAO Blasts CFPB for Continued Workplace Discrimination
National Mortgage Professional, June 21, 2016--Hall, Phil A report by the non-partisan Government Accountability Office harshly criticized the Consumer Financial Protection Bureau for maintaining a hostile working environment that many agency employees consider to be run by managers that are discriminatory and vengeful.
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Yellen Points to Slow Growth and Low Rates in the Long Run
Wall street Journal, June 21, 2016--Hilsenrath, Jon After seven years of subpar U.S. growth, Federal Reserve Chairwoman Janet Yellen is slowly coming to acknowledge that this could be the new long-run state of the economy, a development that could weigh on interest rates for years to come.
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Withholding HECM Options from Qualified Borrowers Is Irresponsible
National Mortgage News, June 21, 2016--Birdsell, Jeff Lenders who do not offer the Home Equity Conversion Mortgage option to qualified borrowers when it aligns with their financial objectives are not just missing out on a good business opportunity--they're falling short on their responsibility to borrowers.
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Genworth: The Rise of the First-Time Homebuyer
HousingWire, June 21, 2016--Swanson, Brena Looking through the eyes of those in the heart of the industry, the majority of mortgage professionals expect the first-time homebuyer market share to only get better, making it the industry's job to now ensure they're getting served. The new facts come from the results of a study conducted by Genworth Mortgage Insurance at the 2016 Mortgage Bankers Association Secondary Conference.
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Industry and Advocacy Groups Team on Homeownership Endeavor
National Mortgage Professional, June 21, 2016--Hall, Phil Under the Homeownership Collaborative endeavor, coalition members will partner with HUD-approved housing counseling agencies in four markets during 2017.
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REIT Sector Gets Lower Marks on Pay Plans
Wall Street Journal, June 21, 2016--Fung, EstherThe real-estate investment trust industry, which has gotten high marks in recent years for adopting compensation programs that investors like, has suffered a bit of slippage in 2016.
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Fed Warns of Vulnerabilities Building in Commercial Real Estate
Blooomberg, June 21, 2016--Torres, Craig; Smialek, JeannaThe Federal Reserve warned that prices in the commercial real-estate market may have run up too far too fast.
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