The Lede
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Nearly Half of Consumers Think Getting a Mortgage Isn’t Difficult
National Mortgage News, June 22, 2018--Elina Tarkazikis (subscription)The share of consumers confident that it wouldn't be difficult to obtain a mortgage in the current market shot up 10% from a quarter ago, according to a new survey.
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HUD Deputy Secretary Pam Patenude Shares Experience Working Under Current Administration
HousingWire, June 22, 2018--Kelsey RamirezWhile there are several women in high-level positions at HUD and in other areas of the housing industry, Patenaude said the industry still needs more women, saying, "I think women are still really under-represented in the field."
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Lots of Financial Regulation Is Illegal (Op-Ed)
Bloomberg, June 22, 2018--Matt Levine (subscription)The author noted the Securities and Exchange Commission brings a lot of enforcement actions against a lot of people in its own internal courts. And for the past few years many of the people caught up in it-the people accused by the SEC of doing bad stuff-have complained that it is illegitimate.
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Mulvaney Aiming to Cement Legacy by Ensuring Successor’s Legacy
The Hill, June 23, 2018--Sylvan LaneConsumer Financial Protection Bureau acting Director Mick Mulvaney is going to bat for his potential successor, and in doing so he's poised to extend his influence at the watchdog agency. Mulvaney, who doubles as head of the White House Office of Management and Budget, has emerged as a key proponent of Kathy Kraninger, President Trump's pick to be the CFPB's full-time director.
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Wells Fargo Cuts 400 Mortgage Jobs
Mortgage Daily, June 22, 2018A nationwide round of layoffs by Wells Fargo Home Mortgage will impact 400 employees.
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ARM Biz Rises as Share Balloons, Fixed Biz Falls
Mortgage Daily, June 22, 2018During the seven days ended June 22, the U.S. Mortgage Market Index from Mortgage Daily, which is not adjusted for seasonal factors, retreated 15 percent from the preceding week to 117.
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CEO of Busted Subprime Lender Now Seeding Mortgage-Related Startups
Wall Street Journal, June 23, 2018--Julie Wernau (subscription)Brad Morrice's firm, New Century Financial Corp., was the first major subprime lender to go bankrupt in 2007.
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Persuading Reluctant Sellers
UExpress, June 22, 2018--Lew SichelmanOne of the main reasons for the lack of homes for sale is that people don't want to give up their low-interest-rate mortgages. Another reason for the low inventory: Folks are leery about being able to find a suitable place to replace the one they have now.
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