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Bank Earnings: ‘Lower for Longer’ Means Buybacks Will Continue
MarketWatch, Oct. 6, 2017--Andrea RiquierWhen big banks kick off the third-quarter earnings season next week, a familiar theme is likely to dominate: it's hard to make money in a lower-for-longer world. Mortgage originations will be down for all the banks, according to data from the Mortgage Bankers Association.
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Manhattan Office Leasing Jumps on Financial-Sector Hiring
Wall Street Journal, Oct. 8, 2017--Keiko Morris (subscription)Manhattan office leasing kicked into high gear in the third quarter as financial services jobs surpassed prerecession levels in August, but new construction kept rental increases low, according to new statistics released by real estate services firm JLL.
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Trump Administration Calls for Scrapping CEO Pay Rule
Wall Street Journal, Oct. 6, 2017--Andrew Ackerman, Gabriel T. Rubin (subscription)The Trump administration wants to do away with signature markets regulations of the financial crisis era, including a requirement that companies show how much CEOs are paid compared with average workers.
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Nonbank Mortgage Employment Picked Up in August, But Will it Last
National Mortgage News, Oct. 6, 2017--Brian Collins (subscription)Nondepository mortgage lenders and brokers added 1,500 employees to their payrolls in August, bringing total employment in the sector to 342,600 in August from 341,100 in July, the Bureau of Labor Statistics reported Friday.
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FHA Lenders May Need to Vet Water Quality Issues
National Mortgage News, Oct. 6, 2017--Bonnie Sinnock (subscription)Lenders could be responsible for water quality issues affecting borrowers and properties if the Federal Housing Administration follows through with its response to an inspector general's report.
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Trump Outlines Sweeping Reform of Capital Markets
Reuters, Oct. 6, 2017--Michelle Price, Pete SchroederThe U.S. Treasury on Friday unveiled a blueprint for sweeping reforms of the U.S. capital markets as it looks to implement Republican President Donald Trump's agenda to promote economic growth by slashing red tape.
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Traders Keep Bets on Fed Rate Hike in December After Jobs Report
Reuters, Oct. 6, 2017--Ann SaphirU.S. short-term interest rate futures fell slightly on Friday after a government report showed the U.S. jobs market weakened in a hurricane-heavy September, though the drop was not enough to signal traders are backing away from expectations the Federal Reserve will raise interest rates in December.
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Why More Millennials with Student Debt are Qualifying for Mortgages
National Mortgage News, Oct. 6, 2017--Laura Alix (subscription)A recent push by Fannie Mae to enable more millennials who are burdened by student debt to buy homes appears to be having its intended effect. Bankers said that they are finding it easier to qualify young homebuyers as a result of the policy changes.
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Bipartisan Push Begins in Congress to Change Parts of CFPB’s Trid Rule
HousingWire, Oct. 6, 2017--Ben LaneCongressmen from opposite sides of the political aisle are partnering to push for a change to the Consumer Financial Protection Bureau's Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosure rule.
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Weekly Mortgage Market Index Up, Government Leads
Mortgage Daily, Oct. 9, 2017Government activity led an increase in new weekly mortgage business. Excluded from the rally, though, were jumbo and adjustable-rate mortgages, according to the Mortgage Daily U.S. Mortgage Market Index.
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FHA 30-Day Rate Up But 90-Day Rate Lowest in Yrs
Mortgage Daily, Oct. 6, 2017Serious mortgage delinquency at the Federal Housing Administration was the lowest it's been in years, though early stage delinquency deteriorated.
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OneMain, Citigroup’s Former Subprime Lender, Fields Takeover Bids
Wall Street Journal, Oct. 8, 2017--Liz Hoffman, Rachel Louise Ensign (subscription)OneMain is in advanced discussions with a number of interested parties, both rival lenders and private-equity firms.
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The Forgotten Costs of Homebuying
UExpress, Oct. 6, 2017--Lew SichelmanThere's no doubt that buying a house is an expensive proposition. Anybody who goes into the process thinking otherwise is in for a rude awakening.
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