The Lede
Top National News
Mortgage Banking Group Seeks to Weed Out Sexual Harassment
National Mortgage News, Jan. 29, 2018--Bonnie Sinnock (subscription)The Mortgage Bankers Association's professional development group for women examined how widespread and underreported the problem is by sending a survey to 2,000 members.
Full Story
Is the Mortgage Forgiveness and Debt Relief Act Coming Back?
The Mortgage Reports, Jan, 29, 2018--Peter G. MillerThe Mortgage Relief and Debt Act is not in the news, and that's a crime. Probably it seems odd that after more than a decade, we're still picking and pulling over the mortgage meltdown.
Full Story
How Lenders are Reducing Compensation Costs Without Hurting Sales
National Mortgage News, Jan. 29, 2018--Bonnie Sinnock (subscription)The seasonally weak first quarter is here, adding to the extraordinary number of cost challenges facing mortgage lenders following a year of lower volumes and higher rates.
Full Story
Wells Fargo Picks Michael DeVito to Lead Home Lending Efforts
HousingWire, Jan. 29, 2018--Ben LaneDeVito took over as head of mortgage production at Wells Fargo in 2015, after previously leading the bank's mortgage servicing operation.
Full Story
Gender Power Shift Ahead for Mortgage Industry?
Mortgage Daily, Jan. 29, 2018From Hollywood to Washington, allegations of sexual harassment and inappropriate behavior have become some of the biggest headlines since last year. According to a Mortgage Bankers Association survey, 75 percent of respondents had experienced at least one work-related sexual harassment incident as defined by the Equal Employment Opportunity Commission.
Full Story
Mortgage Servicing, Staffing Grow at loanDepot
Mortgage Daily, Jan. 29, 2018Mortgage servicing and staffing both expanded at loanDepot LLC. But despite a quarter-over-quarter rise in home lending, there was a year-over-year decline.
Full Story
Mortgage Rates Jump to Highest in 4 Years, an Ominous Sign for Spring Housing
CNBC, Jan. 29 2018--Diana OlickMortgage rates are surging due to the jump in U.S. bond yields. Higher mortgage rates, combined with higher home prices, could make this spring housing market even more challenging.
Full Story
Mulvaney Could Use Dodd-Frank to Gut CFPB Mortgage Rules
National Mortgage News, Jan. 29, 2018--Kate Berry (subscription)Mick Mulvaney's recasting of the Consumer Financial Protection Bureau marks a new day for the agency, but a substantial part of his authority to unwind rules--particularly on mortgages--was already part of the agency's tool chest before he arrived.
Full Story
U.S. Consumer Spending Rose in December, Saving Rate Dipped
Bloomberg, Jan. 29, 2018--Sho ChandraU.S. consumer spending rose at a solid pace in December after an upwardly revised advance a month earlier as shoppers splurged during the holiday season. While incomes also rose, the saving rate fell to a fresh 12-year low.
Full Story