The Lede
Top National News
Trump’s Swift Mortgage Move Angers Real Estate Industry
San Francisco Chronicle, Jan. 24, 2017--Pender, Kathleen Donald Trump may have made his fortune in real estate, but one of his administration's first moves has upset the state and national real estate associations.
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Blackstone Wins Fannie’s Backing for Rental Home Debt
Wall Street Journal, Jan, 24, 2017--Dezember, RyanFannie Mae agreed to backstop up to $1 billion in debt from the country's largest owner of single-family rental homes, the first time the government-sponsored entity has agreed to guarantee the debt of an institutional owner of single-family houses.
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Remember ABX? Wall Street Said to Test New Mortgage Index
Bloomberg, Jan. 24, 2017--Scully, MattA bond-market startup is a step closer to reviving crisis-era derivatives that let investors bet on U.S. homeowner defaults.
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Real-Estate Investors Enjoy Postelection Boost
Wall Street Journal, Jan. 24, 2017--Fung, EstherShares of real-estate investment trusts typically get hammered as interest rates rise-not this time.
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Fifth Third Reports Residential Mortgage Loan Increase of 10% in Q4
Housing Wire, Jan. 24, 2017--Ramírez, Kelsey Fifth Third Bancorp reported earnings significantly below both last quarter and last year, however, the company did see an increase in its residential mortgages.
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A $90 Billion Debt Wave Shows Cracks in U.S. Property Boom
Bloomberg, Jan. 24, 2017--Mulholland, Sarah A $90 billion wave of maturing commercial mortgages, leftover debt from the 2007 lending boom, is laying bare the weak links in the U.S. real estate market.
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DNA of CRE Survey: Commercial Real Estate Remains Male-Dominated, Doesn’t Make Instant Millionaires
REJournals.com, Jan. 24, 2017--Rafter, Dan The vast majority of commercial real estate professionals--80 percent--are male and most don't rank among the super-rich, with 24 percent of CRE agents reporting they earn less than $100,000 in gross commission income each year and 16 percent from $101,000 to $150,000 each year.
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YOY Increase in Flagstar Home Lending, Servicing
Mortgage Daily, Jan. 24, 2017Despite a quarter-over-quarter drop in mortgage originations, Flagstar Bancorp Inc. lifted lending and servicing on a year-over-year basis.
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Movement Mortgage Hiring Hundreds
Mortgage Daily, Jan. 24, 2017Hundreds of hirings are planned by Movement Mortgage LLC as the rapidly growing company expands its South Carolina headquarters.
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Ginnie Mae MSRs Up for Auction
Mortgage Daily, Jan. 24, 2017The offering includes MSRs on 6,636 residential loans with an aggregate unpaid principal balance of $781 million as of Dec. 31, 2016.
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Wells Fargo Customers to Receive $50 Million for Overcharged Mortgage Fees
HousingWire, Jan. 24, 2017--Lane, BenBorrowers who had a mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 could soon receive their share of a $50 million settlement, which stemmed from charges that Wells Fargo overcharged borrowers for Broker's Price Opinions during the time period in question.
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CFPB’s Cordray Signals He Has No Intention of Resigning
National Mortgage News, Jan. 24, 2017--Berry, KateConsumer Financial Protection Bureau Director Richard Cordray sent his strongest signal to date on Tuesday that he has no intention of resigning ahead of his term expiring next year even if asked to by President Donald Trump.
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ServiceLink Fined $65M for LPS Robo-Signing Activities
National Mortgage News, Jan. 24, 2017--Passy, JacobFederal banking agencies have levied a $65 million fine against Fidelity National Financial subsidiary ServiceLink Holdings over deficiencies in the foreclosure-related services provided by its predecessor company.
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Mall Owners Rush to Get Out of the Mall Business
Wall Street Journal, Jan. 24, 2017--Fung, EstherMall landlords are increasingly walking away from struggling properties, leaving creditors in the lurch and posing a threat to the values of nearby real estate.
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Senate Banking Committee Approves Carson for HUD Role
National Mortgage Professional, Jan. 24, 2017--Hall, PhilThe Senate Banking Committee approved Ben Carson's nomination for HUD Secretary and the full Senate will consider it. "We believe that because of his talents, Dr. Carson will help strengthen America's real estate markets, promoting the production of affordable rental housing, and improving communities nationwide," said Mortgage Bankers Association president and CEO David Stevens.
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