The Lede
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Commercial and Multifamily Originations Record Q2 Upswing
National Mortgage Professional, Aug. 1, 2017--Phil HallCommercial and multifamily mortgage originations during the second quarter experienced a 28 percent spike from the first quarter and a 20 percent boost from one year earlier, according to new data from the Mortgage Bankers Association.
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Radian: New Mortgage Insurance Written Surges 43 Percent in Second Quarter
HousingWire, Aug. 1, 2017--Brena SwansonDespite recording a net loss for the second quarter, private mortgage insurer Radian Group managed to report a strong quarter for new mortgage insurance written.
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Fiserv Acquires Mortgage Technology Firm PCLender
Milwaukee Journal-Sentinel, Aug. 1, 2017--Paul GoresFiserv Inc. said Tuesday it has acquired the assets of a Nevada company that specializes in mortgage lending technology. Terms of the deal for PCLender LLC, of Reno, weren't disclosed.
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Banking Regulator to Take First Step Toward Changing Volcker Rule
Wall Street Journal, Aug. 1, 2017--Liz Hoffman, Ryan Tracy (subscription)The Office of the Comptroller of the Currency is taking a first step toward changing the Volcker rule trading ban as regulators continue behind-the-scenes discussions about revamping the much-criticized regulation.
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Redfin Cashes In on Enthusiasm for Real-Estate Tech
Wall Street Journal, Aug. 1, 2017--Laura Kusisto (subscription)A strong debut as a public company by Redfin Corp. signals that investors believe the real-estate brokerage industry is ripe for disruption.
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Freddie Expects to Double Low Down Payment Mortgage Volume in ’17
National Mortgage News, Aug. 1, 2017--Bonnie Sinnock (subscription)When the government-sponsored enterprises began purchasing mortgages with down payments as low as 3%, there was concern that Fannie Mae and Freddie Mac would expose themselves to greater credit risk.
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Senate Appropriations Committee Housing Bill Saves Doomed Affordable Housing Programs
HousingWire, Aug. 1, 2017--Brena SwansonThe Senate Committee on Appropriations unanimously approved the fiscal year 2018 Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, which with allots significantly more money to affordable housing programs than what President Donald Trump's budget requested.
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Freddie Mac Second Quarter Net Income Declines to $1.7 Billion
HousingWire, Aug. 1, 2017--Brena SwansonFreddie Mac's financial results remained steady in the second quarter, as it reported net income of $1.7 billion for the second quarter, slightly down from net income of $2.2 billion for the first quarter.
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U.S. Spending, Factory Data Point to Moderate Economic Growth
Reuters, Aug. 1, 2017--Lucia MutikaniThe Institute for Supply Management said its index of national factory activity fell to 56.3 last month from 57.8 in June, which was the highest level since August 2014.
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Pullback Continues in the Investment Sales Market for Apartment Properties
National Real Estate Investor, Aug. 1, 2017--Bendix AndersonInvestors spent a lot less money on apartment properties so far this year compared to 2016, but prices in the sector keep rising anyway.
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Credit Score Senate Bill Introduced
Mortgage Daily, Aug. 1, 2017The bill would direct the Federal Housing Finance Agency to create a mechanism that opens up Fannie Mae and Freddie Mac to alternative empirically derived and statistically sound credit scoring models.
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New 10-Yr Low for Fannie’s Mortgage Delinquency
Mortgage Daily, Aug. 1, 2017Residential loan performance at Fannie Mae was the best it's been in almost a decade. New business was also better.
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Life Insurers Smell Opportunity in CRE, Multifamily Lending
American Banker, Aug. 1, 2017--Laura Alix (subscription)Life insurance companies are trying to chip away at banks' dominant market share in commercial real estate lending, the Mortgage Bankers Association said.
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New York Apartment Vacancies Projected to Soar
Wall Street Journal, Aug. 1, 2017--Josh Barbanel (subscription)A new report predicts New York City apartment vacancy rates will soar to more than 11% by the end of next year. The scenario, which some local housing analysts rejected, would mean a grim reckoning for landlords.
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Goldman Sachs Reached $725 Million in Consumer Relief in $5 Billion Settlement
HousingWire, Aug. 1, 2017--Ben LaneGoldman Sachs recently moved past the 40% mark in its $1.8 billion consumer relief obligation that is part of the company's $5 billion settlement reached in April 2016 over toxic mortgage bonds, the settlement's monitor said in a new report.
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