The Lede

Mortgage News Daily, Apr. 13, 2017--Jann SwansonDespite a terrible fourth quarter, independent mortgage banks and mortgage subsidiaries of chartered banks managed to have a slightly more profitable year in 2016 than they did in 2015, the Mortgage Bankers Association said.

National Mortgage Professional, Apr. 13, 2017--Phil HallMortgage applications for new home purchases in March were up by 23 percent from February and increased 6.7 percent compared to March 2016, according to the latest Mortgage Bankers Association Builder Application Survey.

Washington Post, Apr. 13, 2017--Kathy Orton"Mortgage rates dropped over the course of last week as global tensions increased surrounding events in the Middle East and the Korean peninsula," said Michael Fratantoni, chief economist at the Mortgage Bankers Association.

Multi-Housing News, Apr. 13, 2017--Paul FiorillaCall reports from 1Q 2015 showed some banks classified as much as 90 percent of their existing acquisition, development and construction loans as high-volatility commercial real estate, while others classified less than 10 percent, said Ashley Gunn, associate director of commercial/multifamily at the Mortgage Bankers Association.

Reuters, Apr. 13, 2017--Nikhil Subba, Dan FreedWells Fargo & Co posted flat quarterly earnings on Thursday and warned its costs would remain elevated as the fallout from a sales practices scandal continues to impact the third-largest U.S. bank.

HousingWire, Apr. 13, 2017--Brena SwansonJPMorgan Chase beat revenue and earnings per share expectations for the first quarter 2017. But despite performing well overall, the bank's mortgage department struggled, continuing a recent downward trend in mortgage net revenue.

The Hill, Apr. 13, 2017--Tim DevaneyThe Consumer Financial Protection Bureau proposed Thursday to "clarify" what sort of information lenders must collect from borrowers as well as from people who apply for a home loan but are rejected.

Wall Street Journal, Apr. 13, 2017--Josh Barbanel (subscription)Manhattan rents rose modestly in March across all apartment sizes after months of weak performance, according to market reports released on Thursday.

Wall Street Journal, Apr. 13, 2017--Telis Demos (subscription)Citigroup Inc. said first-quarter profit rose 17%, as rising interest rates boosted client trading activity more than the bank's lending profits.

National Mortgage News, Apr. 13, 2017--Brad Finkelstein (subscription)First-quarter foreclosure activity was down 19% from the same period last year to the lowest level since the third quarter of 2006, said ATTOM Data Solutions.

Mortgage Daily, Apr. 13, 2017--Sam GarciaInterest rates on residential loans fell to a new low for this year, and it's quite possible they could be much lower in next week's report.

Palm Beach Post (Fla.), Apr. 14, 2017--Bob SullivanMortgage debt is rising fast. Nationwide, the average balance owed on a mortgage is $196,014, up 2.5% from the year prior and 6.4% from nine years ago, said Experian.

National Mortgage News, Apr. 13, 2017--Austin Kilgore (subscription)A number of lenders and servicers are already implementing RPA technology into their operations with great success--a technology with the potential to not only supplant the traditional role of the loan officer, but to also radically reshape the entire mortgage manufacturing process.

Wall Street Journal, Apr. 13, 2017--Josh Zumbrun (subscription)A growing number of forecasters are beginning to reconsider their bullish outlook for the U.S. economy as doubts grow over the extent to which President Donald Trump will be able to implement his agenda.

MBA Education presents its popular School of Mortgage Banking I at Waterstone Mortgage in Pewaukee, Wis. May 16-19.

The Mortgage Bankers Association Commercial/Multifamily Servicing and Technology Conference takes place May 21-24 at the Arizona Biltmore in Phoenix.

MBA Education and MISMO present a series of webinars on digitalization of the residential mortgage industry, continuing on April 19.

In this week's issue of MBA Insights:  Panelists at the recent MBA National Technology in Mortgage Banking Conference & Expo discuss why digital lenders are changing the mortgage landscape--and why the mortgage loan originator might be an endangered species.