The Lede
Top National News
Weekly Mortgage Applications Drop as Homebuyers Drop Out
CNBC, Aug. 15, 2018--Diana OlickMortgage application volume fell 2 percent for the week, according to the Mortgage Bankers Association's seasonally adjusted report. Volume was 19 percent lower than the same week one year ago, when interest rates were lower.
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Frozen Credit Files Can Slow the Mortgage Process
Washington Post, Aug. 15, 2018--Kenneth R. HarneyNearly a year after the catastrophic Equifax hack exposed 147 million Americans' personal and financial data to cybercriminals, consumers are about to get a break--something especially useful for home buyers and owners.
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U.S. Pursues One of the Biggest Mortgage-Fraud Probes Since the Financial Crisis
Wall Street Journal, Aug. 15, 2018--Cezary Podkul (subscription)At issue is whether income from apartment complexes was falsified to support larger loans--which often became part of mortgage securities.
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Millennials May Delay Having Children to Afford a Home Purchase
National Mortgage News, Aug. 15, 2018--Elina Tarkazikis (subscription)As housing affordability continues eroding on growing property values and mortgage rates, nearly a quarter of millennials believe they need to delay having children to afford a home purchase, according to ValueInsured.
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Home Remodeling Surges 30% in 5 Years
HousingWire, Aug. 15, 2018--Kelsey RamirezHome remodeling continues to increase in frequency as more Baby Boomers are electing to age in place and even Gen Xers opt to improve their current homes rather than trading up to newer ones.
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Mega-Deals Give Cross-Border Investment Volume a Boost in First Half of 2018
National Real Estate Investor, Aug. 15, 2018--Beth Mattson-TeigForeign capital continues to pour into U.S. real estate. Transactions led by cross-border buyers jumped 27 percent during the first half of the year compared to overall investment sales that rose just 2 percent during that period, Real Capital Analytics reported.
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Bids Sought for MSRs on Over $3 Bil in Agency Loans
Mortgage Daily, Aug. 15, 2018Ginnie Mae II mortgages account for 12,194 loans for $2.285 billion, Fannie Mae A/A loans make up 5,694 units for $0.869 billion, and there are just 85 Fannie Mae MRS loans for $0.019 billion.
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Jump in USA Mortgage Originations
Mortgage Daily, Aug. 16, 2018Quarterly volume of home lending turned sharply higher at USA Mortgage. Also expanding was the number of people on the mortgage banking firm's payroll.
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Quicken Loans Accuses United Wholesale Mortgage of Waging Smear Campaign in Battle for Borowers
HousingWire, Aug. 15, 2018--Jacob GaffneyThe way in which the mortgage lending industry treats refinance borrowers turned into a finger-pointing session this week.
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A New Home for $90,000? Manufactured Housing Is Making a Comeback
Bloomberg, Aug. 16, 2018--Jeremy HillShipments of manufactured homes to dealers bottomed out in 2009 and have climbed in almost every year since then, according to Census Bureau data. This year, they're expected to cross the 100,000-unit mark for the first time in more than a decade.
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Senate Panel Reschedules Vote on CFPB Nominee
American Banker, Aug. 15, 2018--Joe Adler (subscription)The Senate Banking Committee has rescheduled a vote on Kathy Kraninger, the administration's nominee to run the Consumer Financial Protection Bureau to Aug. 23.
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