The Lede

Forbes, Apr. 3, 2017--Stephen McBrideAt its March meeting, the Federal Reserve said monetary policy will remain accommodative "for some time." This willingness to let inflation "run hot" means even as nominal rates rise, real rates--that is, the nominal interest rate minus inflation--are headed into negative territory.

Wall Street Journal, Apr. 3, 2017--Josh Mitchell (subscription)Americans continue to default on student loans at a "stubbornly high" rate, and a small share of borrowers are unable to buy homes due to high levels of student debt, according to a new report from the Federal Reserve Bank of New York.

National Mortgage Professional, Apr. 3, 2017--Phil HallAn annual home price appreciation of 5.5 percent during 2016 helped to increase the number of mortgage holders with tappable equity to 39.5 million, according to new data from Black Knight Financial Services.

National Mortgage News, Apr. 3, 2017--Bonnie Sinnock (subscription)Freddie Mac has quietly been testing out automated purchases of conforming loans with equity sharing stakes of typically 10%. The equity stake is provided to consumers by a private company that was previously knowns as FirstREX, but rebranded itself last year as Unison.

National Mortgage News, Apr. 3, 2017--Bonnie Sinnock (subscription)The shift in mortgage rates has outpaced regulation as the housing market's main driver.

Bloomberg, Apr. 3, 2017--Laura J. KellerThe U.S. government ordered Wells Fargo & Co. to reinstate a former bank manager who was fired after reporting suspected illegal behavior to superiors and a company hotline. The San Francisco-based lender also was ordered to give the employee about $5.4 million for back pay, compensatory damages and legal fees.

Reuters, Apr. 3, 2017--Lucia MutikaniA measure of U.S. manufacturing activity retreated from a 2-1/2-year high in March amid a decline in production and an inventory drawdown, but a surge in factory jobs indicated that the sector's energy-led recovery was gaining momentum.

Associated Press, Apr. 3, 2017--Christopher RugaberU.S. developers ramped up construction spending in February to the largest amount in nearly 11 years, led by more building of homes, highways and schools.

National Real Estate Investor, April 3, 2017--Eli RazinBank of the Ozarks, based in Little Rock, Ark., broke into CrediFi's ranking of the top 10 New York City lenders in the fourth quarter of 2016 with over $500 million in loan originations and a 3.0 percent market share.

Courier-Post (Cherry Hill, N.J.), Apr. 3, 2017--Jim WalshPHH Mortgage Corp. and three insurers would pay more than $20 million under a proposed settlement of a class-action lawsuit brought by customers of the home-loan firm.

National Mortgage News, Apr. 3, 2017--Brian Collins (subscription)HUD Secretary Ben Carson said housing advocates should not worry about proposed funding cuts, arguing that they will be made up for as part of an eventual infrastructure bill from the administration.

National Mortgage News, Apr. 3, 2017--Brad Finkelstein (subscription)For would-be buyers, acquiring an established organization provides an easier path for adding top-producing talent and loan volume, rather than recruiting workers piecemeal and growing organically, STRATMOR Group said.

Bloomberg, Apr. 4, 2017--Oshrat CarmielCompleted purchases of previously owned homes rose 7.7 percent in the first quarter from a year earlier, reversing a stretch of five consecutive periods in which resales declined, according to a report released Tuesday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.

Mortgage Daily, Apr. 3, 2017A drop in securitizations at Freddie Mac pulled agency issuance down on a month-over-month and year-over-year basis.

Mortgage Daily, Apr. 3, 2017While reform of the government-sponsored enterprises is expected by many, changes to the Federal Housing Administration are expected more quickly.

Mortgage Daily, Apr. 3, 2017--Sam GarciaResidential lenders have a host of recently launched or enhanced services that will help them maintain compliance with mortgage rules, banking regulations and agency requirements.

MBA Education presents its popular School of Loan Origination Instructor-Guided Online Course beginning Monday, Apr. 10 and running through Thursday, May 4.

The Mortgage Bankers Association launched the MBA Servicing Transfer Matrix, a new member benefit to help MBA members navigate the regulations, investor standards and suggested practice governing servicing transfers.

MBA Education presents a new webinar, Real-Time Demand: Considerations on Mortgage Automation, today, Apr. 4 from 2:00-3:30 p.m. ET.