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States with the Highest Mortgage Rates Have These Things in Common, Nov. 20, 2018--Natalie CampisiSpoiler alert: They're not on the West Coast.
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GSEs Establish Tougher Standards for Green Apartment Loans in 2019
National Real Estate Investor, Nov. 20, 2018--Bendix AndersonMultifamily borrowers will have to do a lot more in 2019 to get the lower interest rates offered by Fannie May and Freddie Mac's popular "green" lending programs.
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Commercial, Multifamily Originations Pull Back Amid Higher Rates
Mortgage Professional America, Nov. 20, 2018--Francis MonfortCommercial and multifamily originations slowed during the third quarter on year-over-year and quarter-over-quarter bases amid a pullback in lending activity across most property types, according to the Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations released by the Mortgage Bankers Association.
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Feds Significantly Expand Investigation into All-Cash Real Estate Deals
HousingWire, Nov. 20, 2018--Ben LaneTitle insurance companies in 12 of the nation's largest markets will now have to provide federal authorities with substantial details on all real estate deals of $300,000 or more if the buyer is paying all cash. The requirement comes at the hands of the Treasury Department's Financial Crimes Enforcement Network.
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‘I Can Be the Bank’: Individual Investors Buy Busted Mortgages
Wall Street Journal, Nov. 20, 2018--Ben Eisen, Cezary Podkul (subscription)A decade after the housing crisis, new risk takers invest in nonperforming loans--often written off by banks--and push the borrowers to start paying on them again.
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First Mortgage Default Rate Holds Steady
National Mortgage Professional, Nov. 20, 2018--Phil HallThe default rate on first mortgages remained unchanged at 0.63 percent from September to October, according to data from the S&P/Experian Consumer Credit Default Indices.
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Study: Minority Homebuyers Pay Higher Interest Rates
HousingWire, Nov. 20, 2018--Jessica GuerinA recent study by the University of California Berkeley revealed that lenders make between 11% and 17% more profit on purchase loans to minority borrowers.
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FDIC Unveils Long-Awaited Community Bank Leverage Ratio
American Banker, Nov. 20, 2018--Rachel Witkowski (subscription)The plan would create a community bank leverage ratio for institutions with less than $10 billion of assets which smaller banks could comply with in lieu of more complicated Basel risk-based capital standards. Under the proposal, the ratio was set at 9% of tangible equity to total assets.
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