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$3.18T in Commercial/Multifamily Mortgage Debt Outstanding in 2017
National Mortgage Professional, Mar. 20, 2018--Phil HallCommercial/multifamily mortgage debt outstanding reached $3.18 trillion at the end of 2017, a 6.7 percent increase from the $200.3 billion level reached one year earlier, according to the Mortgage Bankers Association.
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5 HMDA Traps for Mortgage Lenders to Avoid in 2018
National Mortgage News, Mar. 20, 2018--Bonnie Sinnock (subscription)The new Home Mortgage Disclosure Act reporting requirements have been in place since the beginning of the year, but lenders are still adjusting to how they work in practice.
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Mortgage Bankers Cut Q2 Purchase Forecast
Mortgage Daily, Mar. 20, 2018The Mortgage Bankers Association said refinance volume is projected to fall from $128 billion in the first quarter to $110 billion the following three-month period. MBA previously had second-quarter refinance production at $105 billion.
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Senate to House: Don’t Risk Upending Deal on Dodd-Frank Rollback
Wall Street Journal, Mar. 20, 2018--Andrew Ackerman (subscription)Senators are pressing House lawmakers not to jeopardize what they see as their best opportunity to ease postcrisis financial regulations, urging them to quickly pass bipartisan Senate legislation without making changes.
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Ben Carson Denies Trying to Mislead Public About $31,000 Dining Set
Bloomberg, Mar. 20, 2018--Joe LightHousing and Urban Development Secretary Ben Carson said he wasn't trying to mislead the public when an agency spokesman initially denied that he and his family were involved in a controversial decision to buy a $31,000 dining room set for his office.
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Congress Leaders Seek to Finalize $1.3 Trillion Spending Bill
Reuters, Mar. 20, 2018--Susan Cornwell, Richard CowanU.S. lawmakers sought to reach agreement on Tuesday on a massive government spending bill that Congress hopes to pass by Friday, with immigration issues such as President Donald Trump's border wall a stumbling block in the negotiations.
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Opinion: Is The Fed Really Ready to Run With the Bulls?
MarketWatch, Mar. 20, 2018--Caroline BaumThree or four interest rate increases? That is the burning question on everyone's mind as the Federal Reserve meets this week for the first time under the stewardship of new Chairman Jerome Powell.
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FHA Biz and Delinquency Improve, HECM Biz Spikes
Mortgage Daily, Mar. 20, 2018Monthly residential production picked up at the Federal Housing Administration, with reverse mortgage endorsements spiking. Single-family delinquency was down, and commercial mortgage endorsements jumped.
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UWM: Brokers Hurt Least by Rising Interest Rates
HousingWire, Mar. 20, 2018--Kelsey RamirezBrokers in general thrive in purchase markets, UWM President and CEO Mat Ishbia said. He pointed out that brokers typically do less refinances, and therefore the decrease in refi shares will be less likely to affect them.
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A CFPB Commission Will Never Fly
National Mortgage News, Mar. 20, 2018--Kate Berry (subscription)Critics of the Consumer Financial Protection Bureau have long pinned their hopes on converting the Consumer Financial Protection Bureau's leadership structure from a single director to a five-member commission. But with the recently passed Senate regulatory relief bill excluding such a measure, and that bill's fate resting in the hands of moderate Democrats opposed to changes in the CFPB's structure, such a measure is now dead on arrival.
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FHA is Making Progress on False Claims Act Concerns: Carson
National Mortgage News, Mar. 20, 2018--Brian Collins (subscription)HUD's efforts with the Justice Department to address lenders' fears of being sued under the False Claims Act are having a positive impact, Secretary Ben Carson said Tuesday.
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Despite What Some Lenders Think, It’s a Bad Time to Get Lax on Compliance
HousingWire, Mar. 20, 2018--Sarah WheelerPresident Donald Trump has made eliminating regulations a top priority of his administration and has tried to limit the reach of one of the chief mortgage regulators--the Consumer Financial Protection Bureau. But lenders who interpret that to mean they can relax their compliance efforts are sadly mistaken, according to analysts at the Ellie Mae Encompass conference in Las Vegas.
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U.S. Starter Homes Are Scarcer, Pricier, Smaller and More Run-Down
Bloomberg, Mar. 21, 2018--Noah Buhayar"Starter homes have become scarcer, pricier, smaller, older and more likely in need of some TLC" than they were six years ago, the real estate website Trulia reported Wednesday after analyzing housing stock across the country.
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Reverse Mortgages Surge at Ginnie Mae
National Mortgage News, Mar. 20, 2018--Bonnie Sinnock (subscription)Ginnie Mae mortgage-backed securities backed by Home Equity Conversion Mortgages totaled $1.47 billion during February, up from $869 million the previous month and up from $713 million a year ago.
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MBA Education/MISMO eMortgages: eDocuments & SMART Docs Webinar Mar. 22
MBA Education and MISMO present the next webinar in its eMortgage series, eDocuments & Smart Docs, this Thursday, Mar. 22 from noon-1:30 p.m. ET.
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