The Lede
Top National News
The Mortgage Rate ‘Undo’: Opportunities And Caveats
Forbes, Apr. 1, 2019--Brad HunterMortgage rates just hit the "undo" button. Already this year rates have reversed almost all of the increases that they saw in 2018. (MBA mention)
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White House to Fed: Cut Rates
National Mortgage Professional, Apr. 1, 2019--Phil HallThe President took to Twitter to deride the Fed's 2018 rate hikes, which he considered a policy error that halted economic progress.
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Redfin: Homebuyer Competition Eases as Housing Market Cools
HousingWire, Apr. 1, 2019--Alcynna LloydAccording to recent data from Redfin, housing market competition is easing, therefore permitting homebuyers to close on homes faster than previous months.
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San Francisco Fed Says Banks Could Weather a Big Hit to Housing
Bloomberg, Apr. 1, 2019--Jeanna SmialekAmerica's banks could largely weather a major housing downturn, a new Federal Reserve Bank of San Francisco analysis finds, and that includes thousands of smaller lenders who typically have higher exposure to real estate.
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Congress Pits VA Mortgage Costs Against Veterans’ Health Care
American Banker, Apr. 1, 2019--Hanna Lang (subscription)The Blue Water Navy Vietnam Veterans Act would hike the VA's mortgage "guarantee fees" to cover medical costs of roughly 90,000 Navy veterans who served in Vietnam's territorial seas between 1962 and 1975 and suffer from diseases connected to the U.S. military's forest-clearing herbicide.
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Mortgage Lenders, Expect Your Closing Rate to Decline Over the Next Year
HousingWire, Apr. 1, 2019--Jessica GuerinThe closing rate for purchase mortgages recently hit a record high, but analysts at Capital Economics warn lenders that this trend is unlikely to continue.
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HUD: Reverse Mortgage Volume Falls in Q1 2019
Reverse Mortgage Daily, Apr. 1, 2019--Chris ClowHome Equity Conversion Mortgages endorsements in Q1 2019 dropped by 18.19 percent from the previous quarter to $2.48 billion, while HECM endorsement counts in FY 2019 Q1 declined 17.67 percent from last quarter to 7,388 loans.
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Altisource Selling Financial Services Business to Transworld Systems
HousingWire, Apr. 1, 2019--Ben LaneAltisource's financial services business includes Nationwide Credit, a provider of collections, customer relationship management and call center outsourcing for the financial, retail credit, mortgage servicing, insurance, utility and hospitality industries.
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Mixed Data Offer Glimmers of Hope for Slowing U.S. Economy
Reuters, Apr. 1, 2019--Lucia MutikaniU.S. retail sales unexpectedly fell in February, but a rebound in factory activity in March and strong increase in construction spending offered hope the economy was not slowing as sharply as previously feared.
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