The Lede

Ditech Financial LLC took issue with a St. Louis Post-Dispatch article (Mortgage Lender Ditech Laying Off 103 in Earth City) that was abstracted in the Top National News section of the May 11 edition of MBA NewsLink. A Ditech spokesperson called the story "inaccurate" and said Ditech is converting its operations in Earth City from a servicing site to an originations site. "All current employees at the location were offered continued employment in the originations business and we anticipate a significant number of those employees will accept their offers," she said, with training and licensing paid for by Ditech. She added Ditech also plans to expand staffing at the Earth City location with external hires from the St. Louis market.

Wall Street Journal, May 11, 2016--Grind, Kirsten Many traditional mortgage lenders have retreated from the business since new rules and higher standards were imposed after the financial crisis. Private lenders are filling the vacuum.

Business Insider, May 11, 2016--Moshinsky, Ben Moody's Managing Director Colin Ellis said interest rates might not return to levels seen before the 2008 financial crisis.

The Real Deal New York, May 11, 2016--Brenzel, Kathryn  Panelists at Weiser Mazars' Commercial Real Estate Summit panel focused on the volatility of the market and the slowdown in certain construction financing. Banks are pulling back, leaving non-traditional lenders to fill the gap.

CNBC, May 11, 2016--Olick, Diana Despite the lowest interest rates in nearly three years, the number of people applying for a mortgage barely moved last week. Total volume increased 0.4 percent from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.

DS News, May 11, 2016--Honea, Brian Delinquent Notice BHSerious delinquencies on credit cards and auto loans rose in Q1 to levels not seen in the first quarter in the last three years, largely due to the oil slump that impacted the economy in energy-sector states such North Dakota, Oklahoma and Texas, according to TransUnion.

National Mortgage News, May 11, 2016--Nazzaro, Craig The FHA loan program and its related benefits are under threat as the Department of Justice continues to bring investigations and actions against lenders under the False Claims Act.

HousingWire, May 11, 2016--Swanson, Brena Lenders are finally catching on that they can't keep doing business as usual if they still want to exist in the future, ultimately looking toward the next generation of loan officers, Millennials, to fill their open seats.

Reuters, May 11, 2016--Cassella, Megan The U.S. government posted a $106 billion budget surplus in April, down 32 percent from the same period last year, the Treasury Department said on Wednesday.

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