The Lede

Top National News

Mortgage Applications Jump 7.1% as Lowest Rates Since Election Send Homebuyers Rushing to Lock In
CNBC, June 7, 2017--Diana OlickHomebuyers and homeowners saw a rip in the ever-rising interest rate continuum last week and jumped right in. "Purchase application volume increased to its highest level since May 2010," said Mortgage Bankers Association Economist Joel Kan.
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Non-Union Construction Pushing into Commercial Real Estate
Real Estate Weekly, June 7, 2017--Christian Brazil BautistaOpen shop construction, where both union and non-union firms work different portions of a job site, has become commonplace in residential projects. Now there are signs that the model may soon migrate to the commercial sector.
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The Future of Fannie and Freddie
Commercial Observer, June 7, 2017--Guelda VoienWhen it comes to the matter of the government's role in multifamily lending, it's like having a record on repeat.
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More Homebuyers, More Debt
U.S. News & World Report, June 7, 2017--Peter Tobias  There is a false narrative going around town about first-time homebuyers and it could be dangerous to the very group it purports to describe.
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Fay Servicing Settles Charges of Foreclosure Abuse
Mortgage Daily, June 7, 2017Allegations by the Consumer Financial Protection Bureau that Fay Servicing LLC illegally moved forward with foreclosures on distressed borrowers who were actively seeking help have been settled.
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Whistleblower Lawsuit Against Wells Revived
Charlotte Observer, June 7, 2017--Rick RothackerThe Justice Department has weighed in on a long-running whistleblower lawsuit against Wells Fargo & Co. in a move that could aid the two former employees that brought the case against the San Francisco-based bank.
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House Set to Pass Bill Rolling Back Wall Street Rules
Wall Street Journal, June 8, 2017--Andrew Ackerman, Ryan Tracy, Rachel Witkowski (subscription)The House is poised to pass sweeping legislation Thursday that would rewrite the rules governing Wall Street, an opening Republican bid to encourage economic growth by loosening regulation of the financial sector.
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Millions of Young People Shut Out of the Housing Market
Wall Street Journal, June 7, 2017--Laura Kusisto (subscription)Roughly three million potential first-time home buyers have been shut out of the market over the past decade, according to a new study, suggesting the market's recovery of the past few years could have been stronger.
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Is CFPB Being Stretched Thin by Litigation?
National Mortgage News, June 7, 2017--Kate Berry (subscription)Many smaller companies that traditionally would have rolled over and settled with the agency appear emboldened to fight given the political and legal uncertainty hanging over the CFPB. Firms are hoping to get enforcement actions dismissed or, possibly, relief from the Trump administration.
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Stearns Lending Buys Mortgage Production Channel from Primary Capital Mortgage
HousingWire, June 7, 2017--Ben LaneSpecifically, Stearns acquired Primary Capital's wholesale, non-delegated correspondent, and consumer direct lending businesses.
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N.Y. Judge Arrested for Mortgage Fraud
Times Herald-Record (N.Y.), June 7, 2017--Chris McKennaTown Justice Lurlyn Winchester was arrested Wednesday on charges that she made false statements to a mortgage lender and gave falsified documents to investigators, all to conceal that she lived in Rockland County and not in Monroe.
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Residential Finance News

Commercial/Multifamily News

MBA News

MBA Presents mPowering You Event at MBA Annual Convention & Expo
The Mortgage Bankers Association is pleased to introduce mPowering You, a one-day event for women in real estate finance, on Saturday, Oct. 21 in Denver.
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