The Lede

Top National News

Powell Defends Fed’s Approach to Monetary Policy
HousingWire, Aug. 24, 2018--Kelsey RamirezFederal Reserve Chair Jerome Powell's remarks come just days after President Donald Trump reportedly complained to Republican donors at a fundraiser in the Hamptons that Powell was raising interest rates.
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The Markets That Have Seen the Most Construction Starts So Far in 2018
National Real Estate Investor, Aug. 24, 2018--David Bodamer Five of the top 10 markets for commercial and multifamily construction starts in the first half of 2018 showed increased activity compared to the same period in 2017.
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Chase Bank Hit with Downgrade over Jumbo Mortgage Underwriting, Fintech Gaps
National Mortgage News, Aug. 24, 2018--Bonnie Sinnock (subscription)Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.
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Facebook Set to Add Millions of New Real Estate Listings as Push into Real Estate Continues
HousingWire, Aug. 24, 2018--Jeremiah JensenLast November, Facebook partnered with Zumper and Apartment List to add rental listings to Facebook Marketplace. Now, a little under a year later, Facebook is at it again, this time with Rental Beast, a software-as-a-service rental listing platform that provides millions of rental listings.
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Originations, Servicing Up at Quicken Loans
Mortgage Daily, Aug. 24, 2018New quarterly business moved modestly higher at Quicken Loans Inc., as did the company's mortgage servicing portfolio.
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Regional Banks Still Need a Lending Boost
Wall Street Journal, Aug. 26, 2018--Aaron Back (subscription)A promising rebound in loan growth now appears to be fading. That could become an issue, especially for small and midsize lenders.
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OCC to Take Preliminary Step in CRA Overhaul Plan
American Banker, Aug. 24, 2018--John Heltman, Rachel Witkowski (subscription)Comptroller of the Currency Joseph Otting has been a vocal proponent of the need to overhaul the rules that the OCC--along with the Federal Reserve and Federal Deposit Insurance Corp.--use to implement the decades-old law, which requires banks to extend credit and services to low- and moderate-income customers in communities they serve.
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Mortgage Biz Slips, ARMS Lead Decline
Mortgage Daily, Aug. 24, 2018Mortgage Daily's U.S. Mortgage Market Index for the week ended Aug. 24 fell 2 percent from the preceding week.
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MBA News

MBA Compliance Essentials UDAAP & FTC MAP Rule Resource Guide Available
The MBA Compliance Essentials program offers a new Resource Guide: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule.
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MISMO Fall Summit Sept. 24-28
The MISMO Fall Summit takes place Sept. 24-28 at the Ritz-Carlton in Tyson's Corner, Va., just outside of Washington, D.C.
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