The Lede

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Nonbank Mortgage Jobs Grow Again Amid Turbulent Home Buying Season
National Mortgage News, July 6, 2018--Bonnie Sinnock (subscription)There were 341,500 people employed by nondepository mortgage lenders and brokers in May, the Bureau of Labor Statistics reported Friday. That's up 3,800 workers from April.
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Freddie Mac: ACIS Loss Coverage Reaches $10 Billion
HousingWire, July 6, 2018--Alcynna LloydFreddie Mac announced on Friday that it has obtained a new insurance policy under its Agency Credit Insurance Structure, which will provide a combined maximum limit of up to $294 million of losses on single-family loans made under the Home Affordable Refinance Program.
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Mortgage Banking Book Part of Denver History, Memoir
Colorado Real Estate Journal, July 9, 2018--John RebchookVeteran mortgage banker E. Michael Rosser chronicles the history of the mortgage industry in Denver and beyond in his new, 372-page book, "A History of Mortgage Banking in the West, Financing America's Dream."
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Manafort Mortgage Bought Bank CEO Spot as Trump Advisor: Prosecutors
American Banker, July 6, 2018--Kevin Wack (subscription)Federal prosecutors on Fridsay said Stephen Calk, the chief executive of The Federal Savings Bank, was named to Trump's 13-member team as payback for providing a $9.5 million mortgage to former Trump campaign manager Paul Manafort.
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House Money: Wall Street Is Raising More Cash Than Ever for its Rental-Home Gambit
Wall Street Journal, July 9, 2018--Ryan Dezember, Laura Kusisto (subscription)Investors wager that high prices, higher mortgage rates and skimpy inventory are making homeownership harder for individuals and families.
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CFPB Official Who Challenged Mulvaney for Top Job is Stepping Down
CNN, July 6, 2018--Dona BorakLeandra English, a top Consumer Financial Protection Bureau official, is stepping down from the agency and ending a legal fight to become acting chief.
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Overall Share of Equity Withdrawals Drops to 4-Year Low
HousingWire, July 9, 2018--Jessica GuerinAmerican homeowners have record amounts of equity in their homes, but the percentage of tappable equity withdrawn fell in the first quarter of 2018, according to data released Monday by Black Knight.
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Back-Office Innovations Help Banks Dump Costly Real Estate
American Banker, July 6, 2018--Andy Peters (subscription)JLL said in a recent report that this mass relocation to less-expensive space could save banks--all of which are trying to reduce overhead any way they can--an estimated $800 million a year in real estate costs.
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‘We Haven’t Made Any Progress:’ Black Homeownership is Stuck Near 30-Year Lows
Washington Post, July 6, 2018--Jonelle MarteIn many ways, African Americans have regained the ground lost during the financial crisis. Many are finding jobs and getting raises. But the holy grail of homeownership remains elusive. Forty-three percent of blacks owned homes in 2017, according to an annual report from the Joint Center for Housing Studies of Harvard University.
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Mortgage Biz in July 4 Week Lowest Since Holidays
Mortgage Daily, July 6, 2018An indication of upcoming loan originations, the U.S. Mortgage Market Index from Mortgage Daily for the seven days ended July 6, was 98--the lowest level since it was 92 in the week ended Jan. 5.
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Consumer Bankruptcy Filings Decline
Mortgage Daily, July 6, 2018The American Bankruptcy Institute reported a month-over-month and year-over-year reduction in the number of new consumer bankruptcy cases.
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Odd Parcels: Schools, Speed, Appraisals
UExpress, July 6, 2018--Lew SichelmanThe main problem is that no matter what the buyer is willing to pay, it's the appraisal on which the lender bases its decision about how much to lend.
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