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Gone Shopping: Retail Sales Surged in January
USA Today, Feb. 15, 2017--Paul DavidsonAmericans splurged in January as retail sales picked up sharply despite fewer car purchases, and a core reading was strong.
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Industrial Production Slips 0.3% in January
Reuters, Feb. 15, 2017--Lucia MutikaniU.S. industrial production fell in January as unseasonably warm weather caused a major drop in utilities output, offsetting gains in manufacturing and mining, the Federal Reserve said on Wednesday.
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U.S. Business Inventories up; Sales Gain Largest Since 2011
Reuters, Feb. 15, 2017--Lucia MutikaniU.S. business inventories rose in December and sales recorded their biggest increase since 2011, suggesting that inventory investment would again contribute to economic growth in the first quarter amid strengthening domestic demand.
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Consumer Prices Post Largest Gain in Nearly Four Years
Reuters, Feb. 15, 2017--Lucia MutikaniU.S. consumer prices recorded their biggest increase in nearly four years in January as households paid more for gasoline and other goods, suggesting inflation pressures could be picking up.
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Mortgage Applications Drop 3.7% as Refinancing Hits 8-year Low
CNBC, Feb 15, 2017--Diana OlickMortgage refinance volume fell to its lowest level since June 2009. "One driver of the drop in volume last week was a sharp decrease in VA refinance applications, which fell more than 17 percent," said MBA Chief Economist Mike Fratantoni.
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More Hurdles Ahead for Foreign Investors
National Real Estate Investor, Feb. 15, 2017--Beth Mattson-TeigIf the U.S. were to introduce substantive policy change and adopt an isolationist stance, that could potentially prompt foreign investors to hit the pause button or take a more wait-and-see approach.
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Fed’s Harker Sees Three Interest-Rate Hikes Appropriate for 2017
Reuters, Feb. 17, 2017--Ann SaphirPhiladelphia Federal Reserve Bank President Patrick Harker on Wednesday repeated his view that the U.S. central bank should continue to raise interest rates this year, now that the U.S. economy is mostly back to full health.
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Mortgage Delinquencies Among Some Homeowners Just Spiked
CNBC, Feb. 15, 2017--Diana OlickMortgage Bankers Association President and CEO David Stevens, CMB appeared on CNBC to discuss the MBA 4th Quarter National Delinquency Survey.
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MBA Welcomes Industry to Dallas Mortgage Servicing Conference
HousingWire, Feb. 15, 2017--Kelsey RamirezMortgage professionals weaved their way through the maze at the Gaylord Texan in Dallas that led to the Mortgage Bankers Association's national mortgage servicing conference and expo.
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Ocwen’s Board Chair Makes Diversity Her Mission
National Mortgage News, Feb. 15, 2017--Bonnie Sinnock (subscription)When Phyllis Caldwell was considering whether to accept a seat on Ocwen's board of directors, one of the items she prioritized was the company's commitment to diversity. "Ensuring that women and minorities are involved in leadership roles brings different background, experiences, and points-of-view to the forefront, ultimately making a more successful enterprise," emphasized Rodrigo Lopez, CMB, chairman of the Mortgage Bankers Association and executive chairman of NorthMarq Capital.
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CFPB Analyst: We Use Consumer Complaint Database as Insider Guide for Exams
HousingWire, Feb. 15, 2017--Ben LaneSpeaking during the "Preparing for Servicing Exams" session at the Mortgage Bankers Association's National Mortgage Servicing Conference, being held currently in Dallas, CFPB Senior Analyst Ann Thompson said that the CFPB uses the complaint database as a guide for determining whether to pursue an exam against a particular company.
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Fix-and-Flip Mortgage Bonds: Wall Street’s New Housing Bet to Boost Home Flippers
Inman.com, Feb. 15, 2017--Teke WigginNew mortgage-backed securities could benefit communities, but also may raise concerns.
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Yellen Defends Fed Efforts to Boost Economy During House Questioning
Wall Street Journal, Feb. 17, 2017--Kate Davidson (subscription)Federal Reserve Chairwoman Janet Yellen on Wednesday fended off Republican criticism of the central bank's efforts to boost the economy, and repeated her warnings that proposals to rein in the Fed could compromise its independence.
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A Gloomy Wednesday in Housing Data
National Mortgage Professional, Feb. 15, 2017--Phil HallQuicken Loans' National Home Price Perception Index showed the average appraisal value was 1.47 percent below what owners expected in January. This was the second consecutive month that the HPPI declined.
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GSE Refinances Down Despite HARP Uptick
Mortgage Daily, Feb. 15, 2017Although there was a monthly increase in government-supported refinances, overall government-sponsored enterprise refinances slowed.
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Mortgage Servicing Technology in Play
Mortgage Daily, Feb. 15, 2017--Sam GarciaA recent report indicates that, driven by regulations, loan servicing technology is migrating to the cloud. One service provider seems to recently be dominating the market.
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MBA National Technology in Mortgage Banking Conference & Expo Mar. 26-29
The Mortgage Bankers Association's National Technology in Mortgage Banking Conference & Expo takes place Mar. 26-29 at the Hyatt Regency Chicago.
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