The Lede
Top National News
Why Are Mortgage Rates Falling in Early 2017?
The Street, Jan. 17, 2017--O'Connell, Brian
Economists had expected rates to rise after the Fed's decision to boost benchmark interest rates back in December. That may well happen--but it just hasn't happened yet.
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Justice Dept. Finalizes $7.2 Billion Settlement with Deutsche Bank
MarketWatch, Jan. 17, 2017--Goldstein, Steve
The Justice Department on Tuesday finalized its settlement with Deutsche Bank over allegations the German institution misled residential mortgage-backed securities investors in 2006 and 2007.
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Mortgages Taking Center Stage at Online Lender SoFi
National Mortgage News, Jan. 17, 2017--Passy, Jacob
Social Finance, the online lender that made its name refinancing student loans for high-earning millennials, is doubling down on mortgages as rising interest rates are expected to make originations scarcer.
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Movement Mortgage CEO: Steven Mnuchin was Not a ‘Foreclosure King’
HousingWire, Jan. 17, 2017--Swanson, Brena
Senate Democrats dubbed President-elect Donald Trump's nominee to lead the Department of the Treasury, Steven Mnuchin, the "foreclosure king," but while this makes a nice soundbite, it simply isn't true, according to Movement Mortgage CEO Casey Crawford.
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Morgan Stanley Posts Biggest Fourth-Quarter Profit Since Crisis
Wall Street Journal, Jan. 17, 2017--Hoffman, Liz
Morgan Stanley posted its best fourth-quarter results since the financial crisis, keeping a lid on expenses and growing revenue in both its core Wall Street businesses and its newer wealth franchise.
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Property Supply Hasn’t Kept Pace With Popularity of Real-Estate Funds
Wall Street Journal, Jan. 17, 2017--Patnaude, ArtInvestors are piling money into real-estate funds-but fund managers are finding it a challenge to spend it.
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Mall Owners Find Relief From Unlikely Source: Online Retailers
Wall Street Journal, Jan. 17, 2017--Fung, Esther; Smith, Jennifer
Vacant space in malls is being filled by stores used for pickup and returns of goods bought online, and by online merchants looking to reach new customers.
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KBW: What Wells Fargo, Chase 4th Quarter Results Mean for the Rest of the Industry
HousingWire, Jan. 17, 2017--Lane, Ben
While the fourth-quarter results for Wells Fargo and JPMorgan Chase were decidedly mixed, with JPMorgan significantly exceeding and Wells Fargo missing market expectations, there was one common denominator among the big banks' earnings--lower earnings from mortgage banking.
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Schumer to Trump: Don’t Fire U.S. Consumer Agency’s Head
Reuters, Jan. 17, 2017--Oatis, Jonathan
Senate Democratic leader Chuck Schumer told reporters that Trump will break his campaign promise of "standing up for workers and consumers against the rigged system" if he fires the U.S. Consumer Financial Protection Bureau's director, Richard Cordray, after taking office on Friday.
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Foreign Money Looks Beyond Gateway Cities for Apartment Assets
National Real Estate Investor, Jan. 17, 2017--Anderson, Bendix
U.S. apartment properties still look good to foreign investors.
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Flood Elevation Plan Sparks Concerns about Housing Affordability
National Mortgage News, Jan. 17, 2017--Collins, Brian
HUD's proposed guidance has stirred up a debate on elevation standards as flooding occurs more frequently and in more unexpected places. The higher elevation requirements could impact affordability and "may limit the number of newly constructed homes available to many first-time and low-to-moderate income borrowers," wrote Thomas Kim and Steve O'Connor of the Mortgage Bankers Association in a Dec. 21 comment letter.
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U.S. Housing Stock Hits Record High in 2016
GoRion, Jan. 17, 2017--Bourgi, Sam
The value of the U.S. housing market reached a new record in 2016, fully recouping the value lost during the subprime mortgage crisis.
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