The Lede
Top National News
CFPB Warns Companies About Engaging in Wells Fargo-like Sales Incentives
HousingWire, Nov. 29, 2016--Lane, Ben
The Consumer Financial Protection Bureau just fired a shot across the bow of all companies that provide financial services to consumers, warning companies about the risks inherent in sales incentives programs like the one that led to a massive fine being handed down against Wells Fargo.
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Trump Names Mortgage Industry Lobbyist to HUD Transition Team
Wall Street Journal, Nov. 29, 2016--Timiraos, Nick
Shawn Krause is executive vice president of government advocacy for Quicken Loans Inc., the privately held mortgage company that is the largest underwriter of mortgages backed by the Federal Housing Administration, which is part of HUD.
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United Wholesale Mortgage Eliminates Escrow Waiver Fees
HousingWire, Nov. 29, 2016--Lane, Ben
The company says that the move will give mortgage brokers a "competitive edge" over large banks and large retail lenders that tend to charge 0.25% of the loan amount to allow a consumer to manage their yearly tax and insurance payments.
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Higher Rates Don’t Mean Lower House Prices After All
Wall Street Journal, Nov. 29, 2016--Russolillo
Rock-bottom interest rates and accommodative monetary policy helped push home values higher. But now comes the hard part: sustaining prices in a period of rising rates. There is reason for optimism.
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Trump Taps Ex-Goldman Banker Mnuchin for Treasury Post
CNN, Nov. 29, 2016--Isidore, Chris; Mattingly, Phil
He served as finance chairman of Trump's presidential campaign and has been one of Trump's closest economic advisers. His nomination will be announced as soon as Wednesday, the official said.
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Mortgage Complaints Diminish Despite Overall Rise
Mortgage Daily, Nov. 29, 2016
Even though the volume of complaints filed against financial services providers has risen from a year ago, mortgage complaint volume was down, the Consumer Financial Protection Bureau said.
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FHA Endorsements Fall, Could Go Lower
Mortgage Daily, Nov. 29, 2016
Monthly volume of residential loans endorsed by the Federal Housing Administration declined and could move even lower. A modest improvement was recorded for delinquency.
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Credit Union Acquires Mortgage Banker
Tribune News Service, Nov. 29, 2016--Lawrence, Keith
Evansville Teachers Federal Credit Union, which has two branches in Owensboro, Kentucky, recently acquired First Liberty Financial Mortgage, a regional mortgage firm founded and headquartered in Owensboro.
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Fed’s Powell Says Case for Rate Hike Has ‘Clearly Strengthened’
Bloomberg, Nov. 29, 2016--Condon, Christopher; Torres, Craig
Federal Reserve Governor Jerome Powell signaled his readiness to raise interest rates, as unemployment and inflation approach the central bank's goals.
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Incenter Expands into Title Services with Latest Acquisition
HousingWire, Nov. 29, 2016--Lane, Ben
Incenter, a Blackstone portfolio company, announced Monday that it acquired Boston National, a provider of title and settlement services headquartered in Charlotte, N.C.
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There’s About to be a Shift in Who Dominates the U.S. Housing Market
Business Insider, Nov. 29, 2016--Oyedele, Akin
The balance of power in the U.S. housing market will shift from sellers to buyers by 2019, experts surveyed by Zillow said.
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Freddie Mac Releases List of Approved E-Mortgage Vendors
National Mortgage News, Nov. 29, 2016--Passy, Jacob
Freddie Mac has published a list of companies that meet its requirements regarding the creation, signing and storage of electronic promissory notes.
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Why U.S. Bank Likes FHA Mortgages and Retail Lending
National Mortgage News, Nov. 29, 2016--Sinnock, Bonnie
Many big banks are backing away from the retail channel and FHA lending due to rising compliance costs. But U.S. Bank Home Mortgage President Tom Wind sees an opportunity to leverage those challenges to improve efficiency and transparency.
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Home Prices Recover Ground Lost During Bust
Wall Street Journal, Nov. 29, 2016--Kusisto, Laura
New record tops previous peak from a decade ago, caps a four-year recovery.
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VA Home Loan Use Tripled after the Mortgage Crisis
Military Times, Nov. 29, 2016--Shane III, Leo
Home loans through the Department of Veterans Affairs more than tripled in the wake of the 2007-2009 mortgage crisis, providing a critical line of lending credit to tens of thousands of veterans trying to buy a house, a new report said.
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2017 Mortgage Deduction: What Every Taxpayer Should Know
Fox Business, Nov. 29, 2016--Caplinger, Dan
Right now, there aren't major legal changes on the books that will affect the mortgage deduction in 2017, but the recent results of the presidential election point to a broader shift that could have implications for some homeowners in the future.
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This is the Hardest Place in America to Get a Mortgage
MarketWatch, Nov. 29, 2016--Liu, Evie
An analysis of mortgage data shows that one in five home mortgage applications were rejected in the Miami metro area in 2015, making The Magic City the hardest place to get a home loan among the 20 large U.S. cities in the Case-Shiller housing index.
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Are Higher Mortgage Rates A Certainty?
OurBroker.com, Nov. 28, 2016--Miller, Peter G.
So what about the mortgage-rate increase we have seen in the past month or so. Does it not assure higher rates in 2017?
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How the Strategic Opening of Retail Stores Can Revitalize City Neighborhoods
National Real Estate Investor, Nov. 29, 2016--Richardson, Lyneir
The opening of a new retail store or restaurant can quickly bolster a neighborhood.
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