The Lede
Top National News
New-Home Loan Apps Suggest Spring Buying Will Be Better this Year
National Mortgage News, Apr. 9, 2019--Brad Finkelstein (subscription)Loan applications for newly constructed properties accelerated going into this year's peak home buying season, contrasting with the weakness seen in the market a year ago, according to the Mortgage Bankers Association.
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House Flipping Is Back to Pre-Crisis Levels. Here’s Why It’s Less of a Concern
Wall Street Journal, Apr. 9, 2019--Laura Kusisto (subscription)House flipping is back to nearly the same level it was around the 2006 peak of the housing boom, when it became a symbol of the rampant speculation that soared before the bubble burst. But a new analysis from CoreLogic Inc. suggests most of the current flips are less risky than those more than a decade ago, making today's flippers less likely to cause market volatility if prices decline in the next few years.
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Ben Carson Bashes ‘Imaginary Belief’ that HUD Aims to Dismantle Fair Housing Protections
HousingWire, Apr. 9, 2019--Jessica GuerinBen Carson said his critics have it all wrong--he is not trying to unravel the fair housing rules put into play by the Obama administration, he is trying to uphold them.
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Chipping Away at the Mortgage Deduction
Wall Street Journal, Apr. 9, 2019--William G. Gale (subscription)The author says less than half as many American taxpayers are claiming the mortgage-interest deduction for 2018 as did the year earlier. "With any luck, the 2017 tax overhaul will prove to be only the first step toward eventually replacing the century-old housing subsidy with a more effective program."
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U.S. Non-Bank Mortgage Lenders Come Under Scrutiny
Financial Times, Apr. 9, 2019--Sam Fleming, Joe Rennison (subscription) Ginnie Mae, a U.S. government agency that guarantees payments on $2 trillion of U.S. mortgage-backed securities, is advancing proposals that would require non-bank mortgage lenders to compile "living wills"--documents that dictate how to keep their operations running if they get into trouble.
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Senate Republicans Skeptical of Cain’s Fed Confirmation Chances
Wall Street Journal, Apr. 9, 2019--Paul Kiernan, Kristian Peterson, Siobhan Hughes (subscription)Senate Republicans sounded increasingly doubtful Tuesday about the prospects of confirming President Trump's latest pick for the Federal Reserve Board, former GOP presidential candidate Herman Cain.
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Agencies Near Consensus on Key Elements of CRA Reform
American Banker, Apr. 9, 2019--Rachel Witkowski (subscription)Senior officials at the Office of the Comptroller of the Currency, Federal Deposit Insurance Corp. and Federal Reserve briefed industry leaders at a conference last week on their discussions, providing further signs of momentum in efforts to develop an interagency CRA proposal.
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Mnuchin, Waters Engage in Angry Exchange with Cameras Rolling on Capitol Hill
Washington Post, Apr. 9, 2019--Damian Paletta, Erica WarnerTreasury Secretary Steven Mnuchin and House Financial Services Committee Chairwoman Maxine Waters, D-Calif., engaged in a fierce clash Tuesday, squaring off amid rising antagonism between the White House and congressional Democrats.
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U.S. Job Openings Hit 11-Month Low; Quits Rate Stagnates
Reuters, Apr. 9, 2019--Lucia MutikaniU.S. job openings dropped to an 11-month low in February and hiring decreased, which could partially explain a sharp slowdown in job growth during that month.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA School of Loan Origination I Begins Apr. 22
MBA Education presents its popular School of Loan Origination instructor-guided online course from Apr. 22-May 16.
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MBA Education UMBS and Your Business: Best Practices for Readiness Webinar Today
MBA Education presents a webinar, UMBS and Your Business: Best Practices for Readiness Webinar, today, Apr. 10 from 2:00-3:30 p.m. ET.
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MBA Legal Issues & Regulatory Compliance Conference in New Orleans May 5-8
The Mortgage Bankers Association's Legal Issues & Regulatory Compliance Conference takes place May 5-8 at the Hyatt Regency New Orleans.
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MBA Legal Issues & Regulatory Compliance Conference in New Orleans May 5-8
The Mortgage Bankers Association's Legal Issues & Regulatory Compliance Conference takes place May 5-8 at the Hyatt Regency New Orleans.
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MBA Legal Issues & Regulatory Compliance Conference in New Orleans May 5-8
The Mortgage Bankers Association's Legal Issues & Regulatory Compliance Conference takes place May 5-8 at the Hyatt Regency New Orleans.
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