The Lede

Top National News

Mortgage Rates Soar to 7-Year Highs
Washington Post, Oct. 11, 2018--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.72 percent with an average 0.5 point. It was 4.65 percent a week ago and 3.83 percent a year ago. (MBA mention)
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The ‘Pain Threshold Approaches for the Housing Market, Analyst Warns
MarketWatch, Oct. 11, 2018--Shawn MargolisWhile investors are no doubt wringing their hands over what's going on in the stock market this week, here's another thing to fret over: rising mortgage rates. (MBA mention)
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Higher Rates will Keep Home Sales, Prices in Check
Scotsman Guide, Oct. 11, 2018--Victor WhitmanHome sales will stay in a holding pattern--hurt by higher rates but also helped by the strong economy.
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Loan Applications for New Homes Rise Despite Higher Mortgage Rates
National Mortgage News, Oct. 11, 2018--Bonnie Sinnock (subscription)Loan applications for new-home purchases were up more than 8% from September 2017, according to the Mortgage Bankers Association's Builder Application survey.
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Hurricane Michael May Prevent Thousand of Mortgages from Closing
HousingWire, Oct. 11, 2018--Jessica GuerinAn estimate released Thursday by real estate data provider ClosingCorp highlights the lasting effects of the storm, estimating more than 1,600 pending mortgage transactions are in jeopardy thanks to Michael's destruction.
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What Will Trigger Irresponsible Lending?
Orange County Register, Oct. 11, 2018--Jeff LazersonIn September 2016, I first reported to you that averaging deposits from 24 months of bank statements would be acceptable to count as income. In August 2017, I first reported that stated income loans are back. Ever since, common cries from many readers have been, "Here we go again" and "Didn't lenders learn the lesson from the mortgage meltdown?"
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Mortgage Rates Soar, Could Sink in Next Report
Mortgage Daily, Oct. 11, 2018--Sam GarciaAn expected surge in mortgage rates came to fruition this week. The latest forecast has fixed rates tumbling in next week's report.
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California Pummeled by Mortgage Layoffs
Mortgage Daily, Oct. 11, 2018--Sam GarciaA Mortgage Daily analysis of individual states' employment data has uncovered thousands of previously unreported mortgage-related layoffs this year. California employees suffered the most, while banks took a beating.
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Big Lenders Make Push to Liquidate Sears
Wall Street Journal, Oct. 11, 2018--Suzanne Kapner, Lillian Rizzo (subscription)Some of Sears Holdings Corp.'s biggest lenders were pushing for it to liquidate rather than use bankruptcy protection to try to save an American legend whose stores and catalogs dominated retailing for generations.
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Pentagon, Others Baffled by CFPB Plan to Cease Military Lending Exams
American Banker, Oct. 11, 2018--Kate Berry (subscription)The Consumer Financial Protection Bureau's decision to stop examining financial firms for compliance with the Military Lending Act has sparked pushback not only from lawmakers and consumer advocates but also from the Defense Department and every major group representing military service members.
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MBA News

MBA Education School of Loan Origination II Oct. 30-Nov. 15
MBA Education offers its popular School of Loan Origination II instructor-guided online course from Oct. 30-Nov. 15.
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