The Lede

Top National News

Mortgage Rates Retreat But are Expected to Resume Rising
Washington Post, Oct. 4, 2018--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 4.71 percent with an average 0.4 point. It was 4.72 percent a week ago and 3.85 percent a year ago. (MBA mention)
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MBA: Mortgage Credit Tightens in September
Scotsman Guide, Oct. 4, 2018--Victor WhitmanMortgage credit tightened in September as availability for government loans declined to the lowest level since July 2015, the Mortgage Bankers Association reported.
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10 Years Later: How The Housing Market Has Changed Since The Crash
Washington Post, Oct. 4, 2018--Michele Lerner The crisis is still in the forefront of the minds of everyone in the lending industry and influences their decisions, says Michael Fratantoni, chief economist of the Mortgage Bankers Association in Washington. "Many of the products that started the crisis aren't around and the practices that started it are severely constrained," he said.
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MBA and ACUMA in New Education Discount Deal
National Mortgage Professional, Oct. 4, 2018--Phil HallThe Mortgage Bankers Association teamed with the American Credit Union Mortgage Association on a new education and training arrangement.
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This Year’s Movement Mortgage Layoffs Surpass 300
Mortgage Daily, Oct. 4, 2018A fresh round of job cuts at Movement Mortgage LLC has pushed total layoffs so far for this year past 300. The latest staff reductions are the result of lower-than-expected home lending volume.
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Wells Fargo Is Planning Its First Post-Crisis Mortgage Bond
Bloomberg, Oct. 4, 2018--Adam TempkinWells Fargo & Co. is planning its first post-crisis offering of bonds tied to U.S. home loans without government backing. The $441 million non-agency bond will include top portions, which will be rated AAA, sources said.
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NYSE Owner International Exchange Acquires Full Control of MERS
National Mortgage News, Oct. 4, 2018--Bonnie Sinnock (subscription)Intercontinental Exchange, the owner of the New York Stock Exchange, has purchased the remaining equity in Merscorp Holdings it did not already own.
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Acquisition of PHH Corp. a Done Deal
Mortgage Daily, Oct. 4, 2018Ocwen Financial Corp.'s acquisition of PHH Corp., which has operated as an independent organization for more than a dozen years, has been completed.
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