The Lede
Top National News
Atlanta Fed Sees Sub-2 Percent U.S. Growth in First Quarter
Reuters, Mar. 1, 2016--Leong, Richard
The U.S. economy is likely growing at a pace below two percent in the first quarter due to modest growth in consumer spending, the Atlanta Federal Reserve said Tuesday.
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Lenders Exercise More Caution on Multifamily Construction Loans
National Real Estate Investor, Mar. 1, 2016--Anderson, Bendix
Developers can still find financing to build new apartment properties, but lenders are becoming more cautious.
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Analysis: Why is the NLPC Targeting David H. Stevens?
National Mortgage Professional, Mar. 1, 2016--Hall, Phil
Yesterday, a group calling itself the National Legal and Policy Center sent a letter to the U.S. Attorney for District of Columbia and the Inspector General of HUD, demanding an investigation of David Stevens, president and CEO of the Mortgage Bankers Association, for possible violations of federal ethics laws. But for anyone even vaguely familiar with mortgage banking and federal housing policy, the most obvious question raised here is: Who is the NLPC and why are they suddenly so interested in Stevens and MBA?
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Next U.S. Recession May Not Be a Biggie, But Could Be a Long One
Bloomberg, Mar. 1, 2016--Miller, Rich
If the United States enters a recession this year, it may end up a lot like a boring conversation at a cocktail party: painfully long and shallow.
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In Detroit, People are Urged to Get a Second Mortgage Just to Buy a Home
MarketWatch, Mar. 1, 2016--Goldstein, Daniel
The housing market in Detroit is so weak that a new program has been created to help home buyers take out two mortgages when buying a home - one for the purchase price and one for renovations.
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Work-Life Balance More Important than Ever in the Mortgage Business
HousingWire, Mar. 1, 2016--Ishbia, Mat
There's something very empowering about working for something beyond yourself or beyond your company, and realizing that you're working for the greater good of a community.
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Manufacturing Sector Shows Signs of Improvement in February
Wall Street Journal, Mar. 1, 2016--Morath, Eric
U.S. factory activity slowed for the fifth straight month in February, but there is evidence that global headwinds for the manufacturing sector may be easing.
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Warehouse Credit Availability Expands in 2015: Reynolds
National Mortgage News, Mar. 1, 2016--Passy, Jacob
Warehouse lenders dramatically expanded the amount of credit they were willing to extend in 2015, accommodating a noted increase in originator demand, according to The Reynolds Group's annual warehouse lending survey.
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American Homes 4 Rent, American Residential Properties Complete Merger
HousingWire, Mar. 1, 2016--Lane, Ben
In a move that creates a giant in the single-family rental space, American Homes 4 Rent and American Residential Properties announced Tuesday that the companies finalized their merger, which was first announced in December.
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Fed’s Dudley Sees Risks to U.S. Economic Outlook Tilting to Downside
Reuters, Mar. 1, 2016--Li, Zheng; Sun, Qizi; Ruwitch, John; Sweeney, Pete; Saphir, Ann
New York Federal Reserve President William Dudley said he sees downside risks to his U.S. economic outlook, an assessment that could flag a longer pause before the Fed's next interest-rate hike than he and his colleagues had earlier signaled.
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Mortgage Giants Headed for Crisis
The Hill, Mar. 2, 2016--Needham, Vicki
Housing industry experts are sounding the alarm over the increasingly dire financial situation of the federal mortgage giants Fannie Mae and Freddie Mac. "I actually believe it's really incumbent on Congress to take this up as an issue, thoughtfully, while we have time," said David Stevens, head of the Mortgage Bankers Association.
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Inlanta Mortgage Names DelTorto CEO
Mortgage Professional America, Mar. 2, 2016--Kersgaard, Scot
Inlanta Mortgage has announced that President Nicholas DelTorto will assume the role of CEO, while also remaining president. DelTorto was recently elected to the Mortgage Bankers Association Residential Board of Governors.
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Lenders Still Struggling with TRID, Survey Finds
National Mortgage News, Mar. 1, 2016--Collins, Brian
Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey.
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Colorado Adopts the SAFE Mortgage Loan Originator Test
HousingWire, Mar. 1, 2016--Barraza, Cynthia
Colorado is the newest state to start using the nationwide SAFE mortgage loan originator test, bringing the total number to 51 state agencies.
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