The Lede
Top National News
How Paying Down Credit Cards Faster Will Get You in a New Home
MarketWatch, May 20, 2016--Goldstein, Daniel
Starting in June, Fannie Mae says when it comes to buying home loans it will now favor borrowers who are making efforts to pay down their credit cards, rather than just pay the monthly minimums. Mike Fratantoni, chief economist for the Mortgage Bankers Association, said that the changes by Fannie Mae "could help consumers as it has the potential to provide a more comprehensive summary of a credit history."
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Existing Home Sales Manage to Increase Two Months Straight
HousingWire, May 20, 2016--Swanson, Brena
Existing home sales managed to once again overcome today's low-inventory environment and move higher for the second consecutive month, according to the National Association of Realtors. So far this spring has yet to take off due to a flurry of factors that are growing into the "perfect storm" to hinder housing, explained Kevin Golden, director of analytics with a la mode, at the Mortgage Bankers Association's Secondary Market conference in New York City.
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Mortgage-Backed Securities: The Case for Safety and 2% Yields
Barron's, May 20, 2016--Stone, Amey
There aren't a lot of great fixed-income options now that the Fed is talking about hiking rates, Treasuries are selling off and the rally in corporate credit has stalled. One suggestion from the folks at LPL Financial is mortgage-backed securities, or bonds that are backed by pools of mortgages.
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Court Wins Set Important Precedent for Paperless Mortgages
National Mortgage News, May 20, 2016--Passy, Jacob
Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.
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Fed’s Tarullo Outlines Rules for Big U.S. Insurers
Wall Street Journal, May 20, 2016--Tracy, Ryan
Big U.S. insurers Prudential Financial Inc. and American International Group Inc. would face tougher capital requirements than their peers under new rules outlined for the first time Friday by the Federal Reserve's point-man on regulation.
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How Clinton Would Reform the Housing Finance System
National Mortgage News, May 20, 2016--McKendry, Ian
Presumptive Democratic nominee Hillary Clinton appears likely to embrace a recent plan to merge Fannie Mae and Freddie Mac into a single government corporation if she wins the White House.
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LendingClub is Ruining It for the Rest of Fintech
Bloomberg, May 20, 2016--Dexheimer, Elizabeth
Washington lobbyists for online lenders have a new challenge: LendingClub Corp. Scandal, fleeing investors and a subpoena at the high-profile financial-technology firm aren't the only bumps in the road.
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Crime Stats Not Easy to Find
UExpress, May 20, 2016--Sichelman, Lew
In a recent survey by BDX, an online marketing resource for builders, people said the No. 1 thing missing in their real estate web searches are crime figures.
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As Condos Sales Slow, Miami Developers Turn to Rentals
Associated Press, May 22, 2016--Lima, Debora
As Miami's condo market loses traction amid a softening world economy, developers are shifting gears and rental apartments are sprouting throughout Miami-Dade.
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Housing Market Falling Below Potential: First American
National Mortgage News, May 20, 2016--Passy, Jacob
Compressed inventory and lackluster homebuyer sentiment thanks to tight credit availability has hindered the housing market from performing at its full potential in April, according to First American Financial Corp.
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California Home Sales Off to Slowest Start Since 2008
HousingWire, May 20, 2016--Ramirez, Kelsey
California January through April's home sales were down 4.5% annually to 117,235, the lowest level for that time frame since 2008, according to PropertyRadar, a software, data and analysis products provider for real estate professionals.
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A Decade Out From The Mortgage Crisis, Former Homeowners Still Grasp For Stability
NPR Weekend Edition, May 22, 2016
A decade later, even though the recession is over, more than six million homeowners are still upside down on their mortgages.
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Rep. Duffy Says ‘Left-Wing Radical Groups’ Benefit From DOJ Mortgage Settlements
Morning Consult, May 20, 2016--Homan, Timothy R.
The Justice Department and HUD are using mortgage settlements with big banks to steer money toward "left-wing radical groups," according to Rep. Sean Duffy, R-Wis., chairman of the House Financial Services Subcommittee on Oversight and Investigations.
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Homeownership Elusive for Young Adults Without College Degrees
Wall Street Journal, May 22, 2016--Kusisto, Laura
Student loans are often blamed for the record-low homeownership rate among young adults. But new research suggests that young people without a college diploma face especially big hurdles to owning a home.
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Why the Housing Market Is Getting Stronger
Wall Street Journal, May 22, 2016--Russolillo, Steven
Steady job growth, rising wages and low interest rates have helped prop up housing demand. Friday's positive report on U.S. existing-home sales underscored this. And even with the specter of another Fed rate increase looming, perhaps as soon as next month, housing's foundation isn't likely to be shaken.
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Why Ginnie Mae Plans to Stress-Test Its Issuers
National Mortgage News, May 22, 2016--Sinnock, Bonnie
Ginnie Mae wants go one step further in its monitoring of issuers' operations. It plans to model how the liquidity of companies that issue its mortgage-backed securities would look under stress, so it can troubleshoot more effectively. Mortgage bankers have been working to help Ginnie address the resource management concern and they are open to the idea of stress tests, said MBA President and CEO David Stevens.
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