The Lede

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Siding with Landlords and Lenders, Voters Reject Expanded Rent Control
National Mortgage News, Nov. 7, 2018--Elina Tarkazikis (free article)California voters rejected Proposition 10, which would have reduced state restrictions on municipal rent control laws that proponents said would create more affordable housing options for tenants, but was opposed by real estate and mortgage industry interests. "We recognized early on that this could have a very far-reaching impact on the multifamily industry and the housing industry, so we're very pleased with the outcome of the election," said Sharon Walker, associate vice president of multifamily at the Mortgage Bankers Association.
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Mortgage Applications Drop to 4-Year Low as Interest Rates Hit 8-Year High
CNBC, Nov. 7, 2018--Diana OlickRising interest rates are now clearly taking their toll on potential homebuyers. Total mortgage application volume fell 4 percent last week from a week earlier and plunged 16 percent from a year ago, according to the Mortgage Bankers Association's seasonally adjusted index.
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Getting a Mortgage is Now Easier, But it Could Backfire
Union-Leader (Manchester, N.H.), Nov. 7, 2018--Deborah Kearns ( who don't fit into a pristine credit box now have more options, Joel Kan, associate vice president of industry surveys and forecasting with the Mortgage Bankers Association. There's more balance to the lending equation nowadays after the regulatory pendulum swung too far in the opposite direction--a move that shut out otherwise capable borrowers, Kan says.
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MBA Lobbyist: Here’s What a Democrat-Led House Means to Us
HousingWire, Nov. 7, 2018--Alcynna LloydMortgage Bankers Association Chief Lobbyist Bill Killmer believes there will be an emphasis on issues ranging from consumer protection, affordable housing and more.
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UBS Faces New Legal Battle in U.S. over Mortgage Securities
Reuters, Nov. 8, 2018--Karen Freifeld, Michael ShieldsUBS Group AG, Switzerland's largest bank, faces another potentially costly legal battle as the U.S. Department of Justice draws up civil charges over the sale of mortgage-backed securities in the run-up to the 2008 financial crisis.
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Federal Reserve Likely to Keep Interest Rates Steady
Wall Street Journal, Nov. 8, 2018--Nick Timiraos (subscription)Federal Reserve officials are expected to keep interest rates steady at their two-day policy meeting that concludes Thursday. They will likely discuss the economy, financial markets and the future path of rates, among other topics.
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Sources: Mr. Cooper to Buy Pacific Union Financial
HousingWire, Nov. 7, 2018--Kelsey RamirezSources tell HousingWire that Mr. Cooper is expected to announce the move on Thursday in conjunction with the release of its third-quarter earnings and plans to discuss it during its earnings call.
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Sizing Up the Real Fintech Threat
American Banker, Nov. 7, 2018--Penny Crossman (subscription)Fintechs, challenger banks and tech companies trying to disrupt financial services certainly have made their presence felt.
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Ditech Faces NYSE Delisting as it Continues to Explore a Sale
National Mortgage News, Nov. 7, 2018--Bonnie Sinnock (subscription)"The company has fallen below the New York Stock Exchange's continued listing standard that requires listed companies to maintain an average global market capitalization over a consecutive 30-trading-day period of at least $15 million," Ditech said in a press release. "The company will continue to file periodic and certain other reports with the Securities and Exchange Commission under applicable federal securities laws. The suspension and commencement of delisting proceedings do not affect the company's business operations."
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