The Lede

Top National News

Mortgage Rates Retreat But Remain Near 7-Year Highs
Washington Post, Nov. 1, 2018--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 4.83 percent with an average 0.5 point. It was 4.86 percent a week ago and 3.94 percent a year ago. (MBA mention)
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Multifamily Lending in U.S. Hit New High of $285 Billion in 2017
World Property Journal, Nov. 1, 2018--Monsef RachidAccording to the Mortgage Bankers Association's annual report on the U.S. multifamily lending market, strong market conditions helped fuel a 6 percent increase in multifamily lending in 2017, as lenders provided a record high $285 billion in new mortgages for apartment buildings with five or more units.
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Signs of Relief Emerge for Battered U.S. Homebuilding Stocks
Reuters, Nov. 1, 2018--April JoynerU.S. homebuilders' earnings have been hit by rising mortgage rates in the latest quarter, but their shares are showing signs of recovering. (MBA mention)
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Amrock Seeks New Trial in HouseCanary Suit After Judge Denies Motion
National Mortgage News, Nov. 1, 2018--Bonnie Sinnock (subscription)Amrock is calling for a new trial in its dispute with HouseCanary following a judge's denial of its motion to reverse an earlier decision in HouseCanary's favor. The Quicken Loans affiliate had sought a motion for judgment notwithstanding the verdict in the case, in which a Texas state court in Bexar County awarded HouseCanary more than $700 million.
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The Most Powerful Person in Mortgage Lending is About to be Replaced
HousingWire, Nov. 1, 2018--Jacob GaffneyIn two month's time, President Donald Trump will be able to replace Federal Housing Finance Agency Director Mel Watt, and there will also be new leadership at Fannie and Freddie. The represents a decisive opportunity for housing reform, something Trump has long supported.
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Affordable Jumbos: 40-Year Fixed Rate, Easy, Qualifying, Interest-Only for 10 Years
Orange County Register, Nov. 1, 2018--Jeff LazersonIf affordability and qualifying are hurdles to a jumbo loan, there is some good news following a new report from CoreLogic that saw an 18 percent swan dive locally in year-over-year home sales. A new jumbo loan option eases borrowers into a permanent, fixed-rate mortgage by adding 10 years up front of lower interest-only payments, essentially making this a 40-year loan.
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New Credit Score System Might Make It Easier to Get A Mortgage
Forbes, Nov. 1, 2018--Aly J. YaleThe change comes by way of the UltraFICO--a new type of credit scoring system that aims to help consumers establish credit based on banking and savings activity, rather than credit cards, loans and other debts.
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Zillow is Now Officially in the Mortgage Business
HousingWire, Nov. 1, 2018--Kelsey RamirezZillow announced Thursday it completed its acquisition of Mortgage Lenders of America, marking its official first step into the mortgage industry.
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Can CRA be Moderninzed and Still Serve Its Original Purpose?
American Banker, Nov. 1, 2018--Rachel Witkowski (subscription)Among the key objectives with the CRA reform effort is redefining geographic areas in which banks are evaluated. Those areas are traditionally based on physical branch networks, but the rapid shift to digital banking has prompted a rethink.
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MBA News

MBA Education School of Mortgage Banking Course III Dec. 4-7 in Dallas
MBA Education presents its School of Mortgage Banking Course III Dec. 4-7 at Mr. Cooper in Dallas.
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