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Flagstar Finalizes Acquisition of Wells Fargo Branches
HousingWire, Dec. 3, 2018--Caroline BasileThe move was part of Wells Fargo's previous announcement that it plans to reduce its retail bank branches by about 5,000 by the end of 2020 through consolidations and divestitures.
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Mortgage Lender Profits Reach New Low for Q3
HousingWire, Dec. 3, 2018--Kelsey RamirezLenders reported a lower net production income in the third quarter this year, down from the previous quarter and the previous year and reaching a new low for the third quarter, the Mortgage Bankers Association reported.
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Brainard: Fed Close to Finalizing Deal on Treasury Market Data Collection
Wall Street Journal, Dec. 3, 2018--Kate Davidson, Gabriel T. Rubin (subscription)The Federal Reserve is close to finalizing an agreement to start collecting Treasury market data from banks, Fed governor Lael Brainard said Monday. She also said the Fed plans to propose a rule to collect data on mortgage-backed securities issued by government-sponsored agencies such as Fannie Mae and Freddie Mac.
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Waters Likely to Raise Affordable Housing’s Profile in GSE Debate
American Banker, Dec. 3, 2018--Hannah Lang (subscription)One particular difference between a House Financial Services Committee likely led by Rep. Maxine Waters, D-Calif., and her GOP predecessor could be a newfound focus on affordable housing issues.
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U.S. Construction Spending Slows, Factory Growth Readings Mixed
Reuters, Dec. 3, 2018--Meredith MazzilliU.S. construction spending fell for a third straight month, government data showed on Monday, while private-sector figures showed an uptick in manufacturing order growth but offered a mixed view on overall factory activity.
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