The Lede
Top National News
Fixed Mortgage Rates Tumble to Near Yearly Lows
Washington Post, Sept. 29, 2016--Orton, Kathy
Mortgage rates tumbled as U.S. Treasury yields fell to their lowest level in three weeks.
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Caliber Leads the Market’s Return of Nonprime Securitizations
GoRion, Sept. 29, 2016--Curry, Kerry
Fitch Ratings rated its second post-crisis nonprime loan securitization, calling it "modestly better" than the first.
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Housing Affordability at the Worst Level in Seven Years
Housing Wire, Sept. 29, 2016--Swanson, Brena
Home affordability is at the worst level in seven years, with 24 percent of the U.S. county housing markets less affordable than their historic affordability averages.
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Sam Zell Sees Limited Investment Opportunities in the Future
National Real Estate Investor, Sept. 29, 2016--Bell, Diana
Investor Zell 'Doesn't See Much Opportunity in the Capital Markets Today.'
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Minority Borrowers Make Mortgage Gains
Wall Street Journal, Sept. 29, 2016--Andriotis, Annamaria
African Americans and Hispanics accounted for a slightly larger share of mortgages that lenders extended to home buyers in 2015, the Federal Financial Institutions Examination Council reported.
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Seven Transitional Themes, With MBA’s Dave Stevens
Capital Alpha Partners, Sept. 29, 2016
Capital Alpha hosted Mortgage Bankers Association CEO Dave Stevens in an annual call to update listeners on policy issues confronting the mortgage housing sector.
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BB&T Paying $83M to Settle FHA Bad Loan Investigation
National Mortgage New, Sept. 29, 2016--Finkelstein, Brad
BB&T Corp. has agreed to an $83 million settlement with the U.S. Department of Justice over mortgages with quality control problems that were insured by FHA.
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IBM Buying Promontory Clinches It: Regtech Is Real
National Mortgage News, Sept. 29, 2016--Crosman, Peggy
Artificial intelligence like IBM's Watson may not make bank compliance officers obsolete, but it could mean far fewer of them will be needed in the future, focused on higher-level tasks.
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Here’s How New Immigration Trends Impact Housing Market
HousingWire, Sept. 29, 2016--Swanson, Brena
Education level of immigrants trending higher.
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Fines, Withdrawals, Job Cuts. It Was an Ugly Day for Global Banks
Bloomberg, Sept. 29, 2016--Melby, Caleb; Cullen, Angela
Even before the opening bell in New York, Thursday looked like a grim day for some of the giants of global banking.
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Fed Divide Sharpens Between Washington and Regional Chiefs
Bloomberg, Sept. 29, 2016--Smialek, Jeanna; Doyle, Dara; Condon, Christopher
Remarks from Federal Reserve officials on Thursday highlighted a growing split between its Washington-based Board of Governors and many of the central bank's regional bank presidents, who are more eager to get on with raising interest rates.
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U.S. Economy Less Sluggish in Second Quarter; Companies Investing More
Reuters, Sept. 29, 2016--Lange, Jason
U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook.
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U.S. Jobless Claims Rose Last Week to 254,000
Wall Street Journal, Sept. 29, 2016--Leubsdorf, Ben
Initial claims have now remained below 300,000 for 82 consecutive weeks.
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Web-Based Solutions for Mortgage Compliance
Mortgage Daily, Sept. 29, 2016--Garcia, Sam
Web-based services have been launched and improved to help mortgage companies comply with a host of regulations.
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U.S. Bank Settles LA Foreclosure Lawsuit
Los Angeles Times, Sept. 29, 2016--Khouri, Andrew
Los Angeles city attorney had sued bank over decrepit properties.
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