The Lede
Top National News
Mortgage Rates Move Higher on Positive Economic News
Washington Post, Mar. 3, 2016--Orton, Kathy
Encouraging economic data pushed mortgage rates higher for the first time in more than two months this week.
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Mortgage Rates Up While Credit Availability Stalls
National Mortgage Professional, Mar. 3, 2016--Hall, Phil
The uptick in mortgage rates was not shared in the level of available mortgage credit. According to the latest data from the Mortgage Bankers Association, the Mortgage Credit Availability Index remained unchanged at 123.8 in February.
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The Online Mortgage Has Finally Arrived
Wall Street Journal, Mar. 3, 2016--Martin, Anya
Now, you can apply for a jumbo loan while wearing pajamas. More mortgage lenders are offering digital portals in which home buyers can apply for a loan, submit documentation and track the approval progress.
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Delinquency Rates on Commercial Loans Fall in Fourth Quarter
Scotsman Guide, Mar. 3, 2016--Whitman, Victor
Delinquency rates on commercial and multifamily mortgages held by the major investor classes generally fell or remained stable in the fourth quarter, the Mortgage Bankers Association reported.
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Oversight of the National Mortgage Settlement Is Done, Monitor Says
American Banker, Mar. 3, 2016--Berry, Kate
Oversight of the four largest mortgage servicers' compliance with the national mortgage settlement is officially over, the watchdog overseeing the process said Thursday.
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Bank of NY Mellon Must Face Lawsuit over $1.12 Billion Mortgage Loss
Reuters, Mar. 3, 2016
Bank of New York Mellon Corp. must face a lawsuit seeking to hold it liable for causing $1.12 billion (£790.7 million) of investor losses by failing to properly monitor five trusts backed by toxic residential mortgages, a Manhattan federal judge ruled.
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Ginnie Mae Is Looking for a Few Good Subservicers
National Mortgage News, Mar. 3, 2016--Sinnock, Bonnie
Ginnie Mae, the agency that insures government loan securitizations could use some more subservicers because it is concerned that so much of its issuance gets outsourced to a small number of players.
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#FannieGate: 9th Circuit Rules that Fannie and Freddie are Private Companies
HousingWire, Mar. 3, 2016--Wheeler, Sarah
A decision by the 9th Circuit Court of Appeals yesterday could have big implications for a Delaware case where plaintiffs are arguing that Fannie Mae and Freddie Mac are Delaware corporations and therefore are subject to state, not federal law.
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U.S. Data Flow Suggests Economy Regaining Steam
Reuters, Mar. 3, 2016--Mutikani, Lucia
The number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend continued to point to a strengthening labor market.
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U.S. Services Activity Eased Slightly in February
Wall Street Journal, Mar. 3, 2016--Morath, Eric
The Institute for Supply Management said Thursday its gauge of nonmanufacturing businesses fell slightly to 53.4 in February, from January's reading of 53.5.
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5 Things to Watch in the February Jobs Report
Wall Street Journal, Mar. 3, 2016--Sparshott, Jeffrey
The Labor Department releases its monthly snapshot of the labor market on Friday. Economists surveyed by The Wall Street Journal expect payrolls to post a net gain of 200,000 and the unemployment rate to hold steady at 4.9%.
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Crowdsourcing Expands World of Corporate Real Estate Investing
Boston Globe, Mar. 4, 2016--Fitzgerald, Jay
Crowdfunding has mostly been associated with tech startups and inventors, who broadcast a mass appeal for donations that can range from just a few bucks to thousands of dollars. But since Congress passed the 2012 JOBS or Jumpstart Our Business Startups Act, there have been about 80 companies trying to expand the world of real estate investing.
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