The Lede
Top National News
U.S. Factories Rebound, Resisting Global Downward Pull
Reuters, Oct. 3, 2016--Lange, Jason
The Institute for Supply Management said Monday its index of national factory activity rose to 51.5 from 49.4 in August.
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Agency Issuance Most Since 2012, Record at Ginnie
Mortgage Daily, Oct. 3, 2016
Fixed-rate MBS issuance on behalf of Fannie Mae, Freddie Mac and Ginnie worked out to $157.656 billion during September.
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Quicken Loans CEO on the Fed’s Next Move
CNBC, Oct. 3, 2016
Bill Emerson (current chairman of the Mortgage Bankers Association) said any Fed action will have little immediate impact on mortgage rates.
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CMBS Delinquencies Resume Rising in September: Trepp
National Mortgage News, Oct. 3, 2016--Bisbey, Allison
Late payments on securitized commercial mortgages reversed course in September and resumed a climb that began in March, according to Trepp.
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Bass Pro Shops to Acquire Cabela’s
Wall Street Journal, Oct. 3, 2016--Germano, Sara; Helliker, Kevin
Deal for $4.5 billion in cash comes as sporting goods industry struggles with tepid sales.
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How Meddling with Monetary Policy Shaped Modern Mortgages
National Mortgage News, Oct. 3, 2016--Calabria, Mark A.
The author, with Cato Institute, says the shape of the mortgage market "bends to fit the macroeconomic environment."
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Utah-Based Lenders Agree to Pay Nearly $10M to Resolve Mortgage Lending Case
Salt Lake Tribune, Oct. 4, 2016 (Associated Press)
Primary Residential Mortgage Inc. and SecurityNational Mortgage Co. agreed to pay $5 million and $4.25 million, respectively, to resolve separate allegations that they violated the False Claims Act.
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Finance & Investment Research, Part 1: Great Expectations
National Real Estate Investor, Oct. 3, 2016--Mattson-Teig, Beth
Commercial real estate borrowers remain confident despite greater regulatory pressures, new risk retention rules impacting capital markets.
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Canada Tightens Mortgage, Tax Rules to Cool Housing Market
Reuters, Oct. 3, 2016--Lou, Ethan
Canada will close a tax loophole and introduce a stress test to insured mortgage lending, the government said Monday, its latest move to cool a market that some call a housing bubble.
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U.S. Construction Spending Weakens in August
MarketWatch, Oct. 3, 2016--Robb, Greg
Outlays for U.S. construction projects weakened in August and July led by steep declines in spending on public projects, the Commerce Department reported Monday.
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Will The Presidential Election Create Higher Mortgage Rates?
OurBroker.com, Oct. 3, 2016--Miller, Peter G.
Election results could very much change the cost to finance or refinance a home.
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European Banks Cutting 20,000 Jobs as ING Joins Commerzbank
Bloomberg, Oct. 3, 2016--Munoz Montijano, Macarena; De Jong, David
European banks are preparing a fresh round of bloodletting--with some 20,000 jobs set to go--as tougher rules and negative interest rates weigh on profits.
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Summer Housing Market is Not Cooling Down this Fall
HousingWire, Oct. 3, 2016--Ramirez, Kelsey
Fall could be hottest housing market in decade, says Natonal Association of Realtors.
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Looking to Buy a Home? Now is Not the Time
HousingWire, Oct. 3, 2016--Ramirez, Kelsey
Housing affordability keeps homeownership out of reach, says National ASsociation of Realtors.
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Banks Are Cutting Servicing Staff: Fitch
National Mortgage News, Oct. 3, 2016--Passy, Jacob
Bank mortgage servicers are slashing their staff in the wake of improved loan performance and decreased portfolio, according to Fitch Ratings.
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Illinois to Suspend Investment Activity with Wells Fargo
Wall Street Journal, Oct. 3, 2016--Connors, Will
Illinois will suspend $30 billion in investment activity with Wells Fargo & Co., the state treasurer said Monday morning.
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Cash-Out is King in Q2 Refi
National Mortgage Professional, Oct. 3, 2016--Hall, Phil
Cash-out transactions accounted for 42 percent of refinance activities during the second quarter, according to new data released by Black Knight Financial Services.
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RBS to Pay $120 Mln to Resolve Connecticut Mortgage Bond Probe
Reuters, Oct. 3, 2016--Raymond, Nate
Royal Bank of Scotland Group PLC to resolve investigation of mortgage-backed securities underwriting ahead of 2008 financial crisis.
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TRID One Year Later
HousingWire, Oct. 3, 2016--Swanson, Brena
MBA Senior Vice President Pete Mills called TRID a "massive undertaking" but noted impact on consumers was mitigated because lenders prepared for rule.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Summit on Diversity & Inclusion in Washington, D.C. Nov. 16-17
Productive Discussions; Creative Solutions
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