The Lede
Top National News
Fixed Mortgage Rates Halt Their Downward March
Washington Post, Sept. 14, 2017--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average held steady at 3.78 percent with an average 0.5 point, same as it was last week. It was 3.5 percent a year ago.
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Federal Trade Commission Investigating Equifax Data Breach
Wall Street Journal, Sept. 14, 2017--AnnaMaria Andriotis (subscription)The Federal Trade Commission Thursday said it is investigating the Equifax data breach, adding to the mounting investigations into the credit-reporting company since the attack was disclosed last week.
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San Francisco Edges Out Washington to Become the Highest-Income Big U.S. Metro Area
Wall Street Journal, Sept. 14, 2017--Ben Leubsdorf, Paul Overberg (subscription)The technology hub of San Francisco surpassed the nation's capital last year as the highest-earning large U.S. metropolitan area. Median household income in the San Francisco metro area in 2016 was $96,667, just ahead of the $95,843 figure for the Washington region, the Census Bureau announced Thursday.
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As Uncertainty Swirls, CFPB Keeps on Regulating
National Mortgage News, Sept. 14, 2017--Kate Berry (subscription)The Consumer Financial Protection Bureau may face an unsteady political environment and the potential of a leadership shakeup, but a new CFPB report on the agency's supervisory priorities has experts warning banks not to rest on their laurels.
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Irma-Related Damage Could Affect Billions of Dollars in CMBS
National Mortgage News, Sept. 14, 2017--Elina Tarkazikis (subscription)Damage from Hurricane Irma could affect some $26.6 billion in commercial mortgage-backed securities, according to Morningstar Credit Ratings.
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SoFi Defends Mortgage Standards, Denies Fast Company Allegations
HousingWire, Sept. 14, 2017--Brena SwansonSoFi, also known as Social Finance, adamantly said it doesn't shy from criticism, stepping up to defend itself amid the recent negative news coverage on the company's alleged toxic workplace environment.
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Manhattan’s Eager Renters Can’t Make a Dent in Apartment Supply
Bloomberg, Sept. 14, 2017--Oshrat CarmielRenters signed 7,061 new leases in August, the most for any month in data going back to January 2008, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Despite all those deals, vacancies climbed to 2.27 percent from 2.14 percent a year earlier, the first annual increase since February.
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CA Lender Hires Billion Dollar Mortgage Originator
Mortgage Daily, Sept. 14, 2017Ben Anderson, who reportedly closed $242 million in home loans last year for Guaranteed Rate, has jumped to RPM Mortgage.
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GSE Refis Sink to 27-Month Low, All-Time HARP Low
Mortgage Daily, Sept. 14, 2017The monthly number of government-sponsored enterprise mortgages refinanced tumbled to a two-year low. Government-supported refinances plunged to a record low.
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Mnuchin Demurs on Question of GSEs’ Capital
National Mortgage News, Sept. 14, 2017--Kate Berry (subscription)Despite a direct request by six Democratic senators that Fannie Mae and Freddie Mac be allowed to rebuild capital, Treasury Secretary Steven Mnuchin on Thursday did little to clarify the administration's thinking on the issue.
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CFPB Announces First No-Action Letter to Upstart Network to Gain Input on Alternative Credit
HousingWire, Sept. 14, 2017--Brena SwansonThe idea is to assure companies that the Consumer Financial Protection Bureau will not take action against them as they look to launch new products and ideas in finance.
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Starkey Mortgage Rebrands as Certainty Home Loans
HousingWire, Sept. 14, 2017--Brena SwansonPlano, Texas-based Starkey Mortgage announced it is rebranding the company and changing its name to Certainty Home Loans, effective Oct. 2.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Advanced Risk Management Workshop Sept. 26
MBA Education holds its Advanced Risk Management Workshop on Tuesday, Sept. 26 from 1:00-5:00 p.m. ET at the Intercontinental Miami, in conjunction with the MBA Risk Management, QA and Fraud Prevention Conference.
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