The Lede

Top National News

Zillow Launching RealEstate.com, New Site Focused on Millennials
HousingWire, Mar. 30, 2017--Kelsey RamirezThe website will launch in May and will offer a new search experience that's designed to reach Millennial homebuyers.
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Fannie Biz Sinks, New Post-Crisis Low for Lates
Mortgage Daily, Mar. 30, 2017Secondary activity at Fannie Mae plunged to the lowest level in a year. Delinquency, meanwhile, reached another post-crisis low.
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Banks’ Non-QM Share Drops as 3rd Party Share Up
Mortgage Daily, Mar. 30, 2017Loans that didn't meet Qualified Mortgage requirements accounted for a much smaller share of bank originations last year. But third-party and first-time homebuyer share widened, a new report said.
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Don’t Let Talk of Deregulation Take Your Focus Off Quality Control
HousingWire, Mar. 30, 2017--Michael VitaliIf we've learned nothing else since the financial crisis, we've learned that producing error-free loans is the key to creating--and keeping--satisfied customers and clients, be they borrowers, realtors, builders or investors.
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8 Top Takeaways from MBA Tech
National Mortgage News, Mar. 31, 2017--Austin Kilgore (subscription)Tech enthusiasts from across the mortgage industry descended upon Chicago this week for the Mortgage Bankers Association's annual tech conference. From blockchain to digital labor, here's a recap of the best moments and insights from the event.
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Wells Fargo Must Face Litigation on Defective Mortgages: Judge
Reuters, Mar. 30, 2017--Jonathan StempelA federal judge on Thursday said Wells Fargo & Co  must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky residential mortgage-backed securities.
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U.K. Raises $14.7 Billion in Blackstone-Prudential Mortgage Deal
Bloomberg, Mar. 31, 2017--Alastair Marsh; Richard PartingtonThe U.K. will raise 11.8 billion pounds ($14.7 billion) selling mortgages to Blackstone Group LP funds and Prudential Plc, as it takes another step toward clearing assets acquired from lenders that failed in the financial crisis.
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Q&A With MBA’s David Stevens
GoRion, Mar. 30, 2017--Charles WisniowskiDavid Stevens, president and CEO of the Mortgage Bankers Association, discussed the state of the mortgage finance market as the industry transitions to the new Trump Administration, continues to await congressional reform of the government-sponsored enterprises and seeks to divine the final fate of the embattled Consumer Financial Protection Bureau.
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U.S. Economic Growth Revised Higher, Boosted by Consumer Spending
Reuters, Mar. 30, 2017--Lucia MutikaniU.S. economic growth slowed less than previously reported in the fourth quarter as robust consumer spending provided a boost that was partially offset by the largest gain in imports in two years.
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Mortgage Rates Retreat for the Second Consecutive Week
Washington Post, Mar. 30, 2017--Kathy OrtonMortgage rates tumbled for the second week as long-term bond yields fell to their lowest level in a month. "Markets adjusted expectations last week as attempts to repeal and replace the Affordable Care Act stalled and bond yields declined," Mortgage Bankers Association Vice President Lynn Fisher said.
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Goodbye Plywood: Fannie Mae No Longer Allows Plywood in Pre-Foreclosure
HousingWire, Mar. 30, 2017--Ben LaneIn a bulletin sent to servicers this week, Fannie Mae said that it "no longer accepts plywood boards as an acceptable boarding solution on windows of its properties."
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Republicans May Soon Target Informal Regulatory Actions: Toomey
National Mortgage News, Mar. 30, 2017--Ian McKendry (subscription)With slim odds of getting eight Democrats to support major Dodd-Frank Act reforms, Republicans will have to use other measures to make changes to the 2010 reform law, Sen. Pat Toomey, R-Pa., said Thursday.
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GSE Regulator Calls for Better Alignment of Mortgage Buyback Policies
National Mortgage News, Mar. 30, 2017--Brian Collins (subscription)Private market mortgage insurance companies should better align their buyback and rescission policies with those of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency said this week.
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Senate Panel Backs Labor Secretary Nominee Alexander Acosta
Wall Street Journal, Mar. 30, 2017--Eric Morath (subscription)President Donald Trump's choice for labor secretary, Alexander Acosta, won approval Thursday from the committee considering his confirmation, advancing his nomination to the full Senate.
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Mortgage Firm PHH Making Changes at the Top
NJBiz, Mar. 30, 2017--Eric StraussThe company said in a news release that its chief financial officer, Robert Crowl, has been named chief operating officer, reporting to CEO and President Glen Messina. However, effective June 28, the scheduled date for PHH's annual meeting, Crowl will assume Messina's roles as CEO and president and stand for election to the board of directors.
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GSE Dividend Jumpstarts Debate on Reforms
Scotsman Guide, Mar. 30, 2017--Victor Whitman"The future of Fannie and Freddie should be determined by Congress," said MBA President and CEO David Stevens. "That is the only way to reach a solution that does what's best for Americans' housing needs and taxpayers."
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Eight Economists Offer Investment Advice for 2017
National Real Estate Investor, Mar. 29, 2017--Diana BellReal estate economists and researchers share their advice for today's commercial real estate investors.
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Residential Finance News

Commercial/Multifamily News

MBA News

This Week in MBA Insights
MBA honors five remarkable innovators in mortgage technology with MBA Insights Tech All-Star Awards. We profile the winners.
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MBA Education Residential Underwriting Basics Part I Apr. 3
MBA Education presents the next in its Residential Underwriting Basics webinar series on Monday Apr. 3 from 2:00-3:30 p.m. ET.
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Upcoming MBA Education/MISMO eMortgage Webinars
MBA Education and MISMO present a series of webinars on digitalization of the residential mortgage industry, continuing on April 19.
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