The Lede

Top National News

Mortgage Applications to Buy a Home Finally Spring Back, Climbing 5%
CNBC, May 3, 2017--Diana Olick The real estate market is signaling stronger sales ahead as homebuyers finally returned to the mortgage market. "More prospective homebuyers returned to the market after two weeks of decreases in purchase activity, which were possibly due to spring break season and Easter," said Joel Kan, Associate Vice President with the Mortgage Bankers Association.
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U.S. Housing Market Recap: Spring Buying Season Offsets Rising Mortgage Costs
GoRion, May 3, 2017--Sam Bourgi Home sales rose briskly in March as pent-up demand for property continued to bolster the market ahead of a historically active spring buying season.
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Mid America Buys $2.7 Billion in Ginnie MSRs
National Mortgage News, May 3, 2017--Bonnie SinnockMid America Mortgage, Addison, Texas, purchased a $2.7 billion portfolio of Ginnie Mae mortgage servicing rights that its subservicer, LoanCare, took possession of Tuesday.
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Fed Holds Interest Rates Steady, Dismisses First Quarter Slump as ‘Transitory’
MarketWatch, May 3, 2017--Greg RobbThe Federal Reserve on Wednesday left the cost of borrowing unchanged and dismissed a weak first quarter as temporary, signaling it is still on track to raise interest rates at gradual pace.
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Trump Picks Industry Attorney to Help Oversee Overhaul of Banking Regulations
Associated Press, May 3, 2017The Trump administration has tapped a banking lawyer to be the interim head of the Office of the Comptroller of the Currency, as part of the administration's efforts to overhaul bank regulation.
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Lenders Still Willing to Finance Retail, but Be Prepared for Extra Scrutiny
National Real Estate Investor, May 3, 2017--Beth Mattson-TeigThere is still plenty of capital available for retail-sector acquisitions, refinancing and even value-add redevelopment and new construction. But lenders are putting deals under the microscope and borrowers are finding that some projects are a tough sell.
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Can The Mortgage Interest Deduction Really End?
Mortgage Orb, May 3, 2017--Peter G. MillerThe mortgage interest deduction is less secure than fairy tale stories suggest; one can argue that it's within a hair's breadth of extinction.
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Best U.S. Mortgage Loan Originators
Mortgage Daily, May 3, 2017Among mortgage loan originators who are considered to be among the best in the country, earning the borrower's trust is a common theme.
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NCUA RMBS Recoveries Surpass $5 Billion
Mortgage Daily, May 3, 2017The National Credit Union Administration announced it collected $445 million from UBS to settle residential mortgage-backed securities losses at two failed corporate federal credit unions.
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Originations Hold Up at Ocwen
Mortgage Daily, May 3, 2017Home lending activity was off at Ocwen Financial Corp. The West Palm Beach, Florida-based organization experienced a pre-tax loss of $30 million during the first quarter.
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7 Key Takeaways from MBA Secondary ’17
National Mortgage News, May 3, 2017--Brad Finkelstein (subscription)From housing finance reform to the latest economic projections, here's a look at the biggest stories and best insights from this week's Mortgage Bankers Association National Secondary Market Conference in New York.
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Experts Agree: Chances of Recession are Rising
HousingWire, May 3, 2017--Kelsey RamirezThe chances of a recession within the next 12 months continues to rise as the yield curve flattens, said Mark Fleming, chief economist with First American Finance Corp.
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BofA’s Moynihan Says Breaking Up Banks Would Hurt U.S. Interests
Bloomberg, May 3, 2017--Laura J. Keller, Felice MaranzBank of America Corp. Chief Executive Officer Brian Moynihan said the Trump administration would harm U.S. businesses and undermine the financial system if it were to revive a Depression-era law separating consumer and investment banking.
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