The Lede

Top National News

A Brief Respite for Interest Rates Fails to Spur Mortgage Applications
CNBC, May 9, 2018--Diana OlickInterest rates for home loans fell last week for just the third time this year, but homeowners and homebuyers weren't impressed. Total mortgage application volume fell 0.4 percent for the week, according to the Mortgage Bankers Association.
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Mulvaney Guts CFPB’s Student Lending Office
American Banker, May 9, 2018--Kate Berry (subscription)Mick Mulvaney on Wednesday announced a restructuring of the Consumer Financial Protection Bureau that will strip the agency's student lending office of all functions except consumer education.
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Amazon Rolls Out Model ‘Smart’ Homes for U.S. Shopperts to Try Out Alexa
Reuters, May 9, 2018--Jeffrey Inc on Wednesday said it has set up model "smart" homes across the United States for shoppers to experience what it's like for voice aide Alexa to dim the lights, turn on the TV or order more laundry detergent.
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GSE Reform Is Dead–Long Live GSE Reform!
Urban Institute, May 9, 2018--Jim Parrott, Mark M. ZandiAs it becomes apparent that the 115th Congress will not pass legislation to reform Fannie Mae and Freddie Mac, the authors describe the path the current administration will likely take to reform the government-sponsored enterprises administratively.
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RBS Reaches $4.9 Billion Deal to Settle U.S. Mortgage Bond Investigation
Reuters, May 9, 2018--Nate Raymond, Eric Walsh, Sinead CruiseRoyal Bank of Scotland has agreed to pay a smaller-than-expected $4.9 billion to resolve a U.S. investigation into its sale of mortgage-backed securities, paving the way for a long-awaited return of cash to UK taxpayers who bankrolled its post-crisis survival.
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Wells Fargo Owes California Mortgage Bankers $97M for Rest Breaks
American Banker, May 9, 2018 (subscription)Wells Fargo must pay $97 million to home mortgage consultants and private mortgage bankers in California who didn't get the breaks they were entitled to under the state's stringent labor laws.
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PHH Corp.’s Results Clear Hurdles to Acquisition by Ocwen Financial
National Mortgage News, May 9, 2018--Bonnie Sinnock (subscription)PHH Corp. took a net loss in the first quarter but was able to surpass minimums for net worth and available cash necessary for Ocwen Financial to acquire the company.
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CRM and Lead Generation for Mortgages Adapt to Revival of Suburbs
National Mortgage News, May 9, 2018--Elina Tarkazikis (subscription)As the American population migrates to the suburbs and midsize cities, mortgage lenders and real estate professionals must re-examine their customer relationship management and lead generation strategies to better serve potential borrowers.
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Upcoming MBA Education School of Mortgage Banking Courses
MBA Education presents its School of Mortgage Banking Courses I & II in Arlington, Va., July 24-27.
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