The Lede
Top National News
Mortgage Rates Continue their Summer Swoon
Washington Post, Aug. 23, 2018--Kathy OrtonMortgage rates haven't done much lately, but they are at least moving in the right direction for home buyers. (MBA mention)
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Senate Panel Narrowly Approves Trump Consumer Bureau Pick
The Hill, Aug. 23, 2018--Sylvan LaneAll 13 Republicans on the Senate Banking Committee voted to recommend the confirmation of Kathleen Kraninger to lead the polarizing financial regulator for a five-year term, while all 12 Democrats opposed her. The Committee also approved Michael Bright as President of Ginnie Mae by voice vote.
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Nonbank Mortgage Lenders May Need to Brace for More Cuts
National Mortgage News, Aug. 23, 2018--Bonnie Sinnock (subscription)Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.
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United Wholesale Fight Back Against Quicken Loans’ Allegation of Mortgage Mischief
HousingWire, Aug. 23, 2018--Jacob GaffneyThe war of words between Quicken Loans and United Wholesale Mortgage continues.
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Mortgage Originations, Servicing Up at Homebridge
Mortgage Daily, Aug. 23, 2018As quarterly mortgage production moved higher at Homebridge Financial Services Inc., so did the company's servicing portfolio.
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Brookfield’s Assured Mortgage Merges with Bell Bank Mortgage
Milwaukee Business Journal, Aug. 23, 2018--Sari LeskThe companies announced the move this week. Assured Mortgage has operated for nearly 30 years and has four offices that have written mortgages for more than 25,000 customers, according to a news release. Staff at Assured Mortgage will start to join the Bell Bank Mortgage team beginning in October.
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SEC Shuts Down EquityBuild, Claims Company is $135 Million Real Estate Ponzi Scheme
HousingWire, Aug. 23, 2018--Ben LaneThe SEC took action against Equitybuild, Equitybuild Finance, and the company's operators, the father and son team of Jerome and Shaun Cohen, for allegedly defrauding at least 900 investors by promising guaranteed returns on real estate investments.
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Wells Fargo Announces Layoffs of 101 Charlotte-Area Workers
Charlotte Observer, Aug. 23, 2018--Deon RobertsWells Fargo is laying off 101 employees in its Charlotte-area mortgage operation, part of a nationwide cut affecting 638 employees, the company said Thursday.
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Does Sears Have a Future? Troubles Mount with More Sears, Kmart Store Closures
USA Today, Nathan Bomey, Charisse JonesThe parent company of the two chains, Sears Holdings, announced Thursday that it would close about 5 percent of its remaining stores, all of which it said were losing money, totaling 46 stores.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Successful Practices in Third-Party Risk Management Sept. 25
MBA Education presents Successful Practices in Third-Party Risk Management on Sept. 25 at the JW Marriott LA Live, in conjunction with the MBA Risk Management and Quality Assurance Forum.
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Academy Award-Winning Actor Geena Davis Keynotes mPower Event at MBA Annual Convention
Academy Award winning actor Geena Davis keynotes the mPower Luncheon on Tuesday, Oct. 16 at the Mortgage Bankers Association's Annual Convention & Expo in Washington, D.C.
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MBA Partners with HousingWire for engage.marketing Conference Sept. 13-14
The Mortgage Bankers Association announced it is an Association Partner for the HousingWire engage.marketing Conference, taking place Sept. 13-14 at the Renaissance Dallas Hotel.
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Academy Award-Winning Actor Geena Davis Keynotes mPower Event at MBA Annual Convention
Academy Award winning actor Geena Davis keynotes the mPower Luncheon on Tuesday, Oct. 16 at the Mortgage Bankers Association's Annual Convention & Expo in Washington, D.C.
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Academy Award-Winning Actor Geena Davis Keynotes mPower Event at MBA Annual Convention
Academy Award winning actor Geena Davis keynotes the mPower Luncheon on Tuesday, Oct. 16 at the Mortgage Bankers Association's Annual Convention & Expo in Washington, D.C.
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