The Lede
Top National News
John Zikos: The Future of Retail
D Magazine (Dallas), Oct. 12, 2016--Zikos, John
Creating a sense of place and a reason to stay for a while in retail properties is more important than ever before, developer Zikos says.
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Renovations Help Boost Slow Season for Commercial Property
CT Post (Bridgeport, Conn.), Oct. 12. 2016--Torres Ocasio, Keila
Recently renovated properties experienced significant action in a quarter that saw a drop in commercial leasing activity.
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Mortgage Applications Down 6% as Rising Rates Take a Toll
CNBC, Oct. 12, 2016--Olick, Diana
The highest interest rates in a month are scaring consumers away from mortgages. "Total and refinance application volume dropped to their lowest levels since June," said Mortgage Bankers Association Chief Economist Michael Fratantoni.
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Wells Fargo’s New CEO Faces Immediate Test
Reuters, Oct. 13, 2016--Freed, Dan
The newly installed chief executive of Wells Fargo & Co. will present third-quarter results on Friday, less than 48 hours after replacing John Stumpf at the helm of the bank.
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Fed Kept Rates on Hold Despite ‘Reasonable Argument’ For Hike, Minutes Show
MarketWatch, Oct. 12, 2016--Robb, Greg
Federal Reserve officials held off raising interest rates in September though they saw a reasonable argument for moving them, meeting minutes released Wednesday indicated.
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Why Mortgage Servicing Is at a Breaking Point
National Mortgage News, Oct. 12, 2016--Kilgore, Austin
The housing crisis forever changed the business of servicing. The new normal is here. It's time for the industry to wake up and do something about it.
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56% Say Rents Too High to Save Enough to Buy a Home: Survey
National Mortgage News, Oct. 12, 2016--Passy, Jacob
NeighborWorks reported majority of survey respondents said that rents are too high where they live for them to be able to save enough to buy a home.
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Realtors Lead Pre-Emptive Strike to End Any Efffort to Expand Sales Tax to Include Services
St. Louis Public Radio, Oct. 13, 2016--Mannies, Jo
The Missouri-proposed sales tax pits the Missouri Realtors, who oppose the measure, against the Missouri Mortgage Bankers Association and other trade groups.
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Will PHH Victory Undermine CFPB Authority in Similar Court Battle?
HousingWire, Oct. 12, 2016
Now with the PHH ruling finalized, CEI General Counsel Sam Kazman said that the ruling opens the door for CEI's district court case, State National Bank of Big Spring v. Lew, to move forward, challenging the constitutionality of other aspects of the Consumer Financial Protection Bureau.
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Wells Fargo Chairman, CEO Out
Mortgage Daily, Oct. 12, 2016
Wells Fargo Chairman and CEO John Stumpf said he would retire immediately; Sen. Elizabeth Warren, D-Mass., said the resignation doesn't go far enough.
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Eight Years Later, Subprime Mortgage Crisis Rears Its Ugly Head in the Form of Deutsche Bank
GoRion, Oct. 12, 2016--Bourgi, Sam
The Deutsche Bank probe appears to be one of the final remnants from the subprime mortgage crisis, which set in motion a painful economic collapse both at home and abroad. Since then, the U.S. housing market has seen a painful restructuring, where new regulations, tighter lending guidelines and a shaky economy thwarted the sector's recovery on several occasions.
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Mortgage Lenders Enhance Mobile Platforms
Mortgage Daily, Oct. 12, 2016--Garcia, Sam
Recent advancements in mobile technology improve the application process, synchronize supporting documents and educate prospective borrowers.
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Proprietary Reverse Production Up More Than HECM
Mortgage Daily, Oct. 12,, 2016
Of the 4,378 home-equity conversion mortgages endorsed by the Federal Housing Administration in August, retail originators were responsible for 2,440 units.
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Why the Low Hispanic Homeownership Rate Matters
Urban Institute, Oct. 12, 2016--Parrott, Jim; Payano, Yamillet
Authors say housing market will change by contracting because it cannot accommodate a larger and larger percentage of our citizens, or it will do so by becoming more inclusive because we have found ways to bring a more diverse profile of borrower into the system.
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Residential Finance News
Commercial/Multifamily News
MBA News
Applications for MBA Education Residential Future Leaders Program Now Open
Application Deadline Jan. 13
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