The Lede
Top National News
U.S. Housing Market Recap: Home Sales Defy Expectations in November as Demand Outstrips Rising Mortgage Costs
GoRion, Jan. 4, 2017--Bourgi, Sam
U.S. home sales rose more than expected in November, even as construction activity ran into volatility, a sign that stronger earnings and more plentiful jobs were offsetting a sharp rise in mortgage rates.
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REIT IPOs Continue to Face Hurdles
National Real Estate Investor, Jan. 4, 2017--Mattson-Teig, Beth
The real estate investment trust market saw few new players added to the roster in 2016. The sedate pace of IPO activity is testament to the challenging pricing market that still exists, and 2017 is shaping up to be another slow year.
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Mortgage Applications Tank 12% to End 2016
CNBC, Jan. 4, 2017--Olick, Diana
Mortgage application volume plunged 12 percent for last week, seasonally adjusted, from two weeks earlier, the Mortgage Bankers Association reported.
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Mortgage Insurance Deduction for Middle-Income Homeowners Expired at the End of 2016
Washington Post, Jan. 4, 2017--Harney, Kenneth R.
The authorization for this benefit to middle-income owners expired on Dec. 31, 2016. As a result, it will not be available for borrowers during 2017 and beyond unless reauthorized through congressional action.
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Consumers Can Still Obtain Low Mortgage Rates in a Rising Interest Rate Environment
The Street, Jan. 4, 2017--Chang, Ellen
Mortgage rates have been rising steadily since the U.S. presidential election, and while potential homebuyers are facing higher monthly payments, this trend also has an upside.
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Charlotte’s Wyndham Capital Mortgage Lays Off a Fifth of Its Staff
Charlotte Observer, Jan. 4, 2017--Peralta, Katherine
Wyndham Capital Mortgage on Tuesday laid off 78 people in Charlotte, a move that comes amid industry pressure from rising mortgage rates.
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President-elect Trump to Nominate Jay Clayton Securities and Exchange Commission Chairman
Wall Street Journal, Jan. 4, 2017--Bender, Michael C.
President-elect Donald Trump will nominate Sullivan & Cromwell law partner Jay Clayton as Securities and Exchange Commission chairman, adding another figure with close Wall Street ties to Mr. Trump's administration.
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Walter Investment Sells Insurance Agency to Assurant
National Mortgage News, Jan. 4, 2017--Passy, Jacob
Walter Investment Management Corp. has agreed to sell Green Tree Insurance Agency to a wholly owned subsidiary of insurance company Assurant.
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This Chart Proves Borrowers Keep Getting Better at Paying Their Mortgage
HousingWire, Jan. 4, 2017
The trend isn't letting up as borrowers once again prove they are getting better at paying their mortgage on time, according to the Office of the Comptroller of the Currency's 2016 third-quarter report on mortgages.
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Fed Minutes: If Economy Heats Up, Rate Hikes May Accelerate
Associated Press, Jan. 4, 2017--Crutsinger, Martin
Federal Reserve officials, who boosted a key interest rate last month, said they might need to accelerate future rate hikes if a faster-growing economy pushes down the unemployment rate farther than currently expected.
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eMortgage Warehouse Product Launched
Mortgage Daily, Jan. 4, 2017
Origin Bank in Texas announced it has added eMortgage warehouse financing to its line of warehouse products.
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Fannie Announces M.I. Updates
Mortgage Daily, Jan. 4, 2017
Updates address 2 acquisitions, PMIERs financial requirements.
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Companies Issue Mortgage Production Reports
Mortgage Daily, Jan. 4, 2017--Garcia, Sam
A variety of mortgage origination statistics have been reported for home lenders, including rural lending and lending in the Big Apple.
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Loan Mods Plunge at Largest National Banks
National Mortgage News, Jan. 4, 2017--Collins, Brian
National banks have experienced a dramatic drop in loan modification activity over the past year, according to the Office of the Comptroller of the Currency.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Tax Reform Proposals & Potential Impacts on CRE Finance Jan. 18
MBA Education hosts a webinar, Tax Reform Proposals & Potential Impacts on Commercial Real Estate Finance, on Wednesday, Jan. 18 from 3:30-5:00 p.m. ET.
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