The Lede

Top National News

Mortgage Rates Plateau Amid Stock Market Fluctuations
Washington Post, Nov. 15, 2018--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average held steady at 4.94 percent with an average 0.5 point. It was unchanged from a week ago and up from 3.95 percent a year ago. (MBA mention)
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HUD Will Address Rising Risk with FHA Loans
Scotsman Guide, Nov. 15, 2018--Victor WhitmanChanges are likely to come soon that will make it harder for prospective borrowers to obtain Federal Housing Administration loans. Mortgage Bankers Association President Robert Broeksmit said HUD's scrutiny of FHA's credit standards was "prudent."
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Ditech Warns of Potential Return to Bankruptcy Despite Better Results
National Mortgage News, Nov. 15, 2018 (subscription)Ditech has "begun to have discussions with certain of its corporate debt holders and their advisors regarding potential strategic transactions that may involve implementation through an in-court supervised Chapter 11 process," according to a company press release.
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Volume of Fannie Mae Risk-Sharing Hits $2.6B in 2018
National Mortgage News, Nov. 15, 2018--Brad Finkelstein (subscription)Fannie Mae completed 10 traditional and front-end credit risk insurance transactions during 2018 sharing $2.6 billion of risk, including $192 million in its final deal of the year.
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Redfin is Latest Real Estate Company Taking a Deeper Mortgaeg Dive
National Mortgage News, Nov. 15, 2018--Elina Tarkazikis (subscription)Redfin is the latest example of real estate companies diving deeper into the mortgage industry, but also joins more tech-focused mortgage companies in their push toward digitizing the process.
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Wildfire Victims Get Extra Time for Mortgage Payments
San Bernardino Sun (Calif.), Nov. 15, 2018--Jeff LazersonServicers are authorized to suspend or reduce homeowner's mortgage payments for up to 90 days without any contact with the homeowner if the servicer believes the homeowner has been affected by a disaster.
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Senate One Step Closer to Voting on CFPB Nominee
American Banker, Nov. 15, 2018--Neil Haggerty, Kate Berry (subscription)Senate Majority Leader Mitch McConnell filed a motion that could bring the administration's choice for Consumer Financial Protection Bureau director , Kathy Kraninger, up for a vote before the full Senate later this month.
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Wells Fargo Eliminating 900 Mortgage Jobs
HousingWire, Nov. 15, 2018--Ben LaneWells Fargo announced Thursday it is eliminating 1,000 positions nationwide in its Consumer Lending and Payments, Virtual Solutions and Innovations groups.Of those, 900 cuts will be in the company's home lending division.
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In New York, $35 Million Will Buy an Apartment. Or Grand Central
Bloomberg, Nov. 15, 2018--Danielle MoranFor $39 million, you could buy a mansion in New York's Upper East Side with eight bedrooms, eighteen bathrooms, a cigar bar, private library, and top-floor indoor pool just blocks away from Central Park. Or if you're the Metropolitan Transportation Authority, you could buy Grand Central Terminal, one of New York's greatest icons, and still have $4 million to spare.
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MBA News

Upcoming MBA Education School of Mortgage Banking II Courses
MBA Education presents its popular School of Mortgage Banking Course II Nov. 27-30 at USAA in Tampa, Fla.
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