The Lede

Top National News

30-Year Mortgage Rate Falls to Its Lowest Level in Nearly Three Years
Washington Post, Aug. 22, 2019--Kathy OrtonEconomic uncertainty drove mortgage rates down, according to Freddie Mac data released Thursday, with the popular 30-year reaching its lowest level in nearly three years. (MBA mention)
Full Story
Multifamily Borrowing Surges 10% in Q2
HousingWire, Aug. 22, 2019--Kelsey RamirezMortgage originations in commercial and multifamily surged 10% annually in the second quarter, according to the Mortgage Banker Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Full Story
The Inverted Yield Curve is Doing Something Weird to Mortgage Rates
CNBC, Aug. 22, 2019--Diana OlickIt's very odd to suddenly see ARMs showing higher interest rates than the traditional 30-year fixed, which is what Bankrate.com is currently showing for average purchase mortgage rates. Refinance rates are still lower for ARMs.
Full Story
As U.S. Watchdog Retreats, Mortgage Firms Reprise Cozy Marketing Arrangements
Reuters, Aug. 22, 2019--Katanga Johnson, Michelle PriceU.S. mortgage firms are getting back into joint marketing and advertising arrangements, reviving a controversial practice that was effectively banned in the aftermath of the 2007-2008 subprime mortgage crisis.
Full Story
First-Time Homebuyers Need More Than Just Lower Mortgage Rates
Bloomberg, Aug. 22, 2019--Prashant GopalMortgage rates in the U.S. dropped closer to historic lows this week, but that may do little to help first-time buyers as starter homes vanish.
Full Story
Lenders Using IRS System Must Pay For Upgrade, But It May Be Worth It
National Mortgage News, Aug. 22, 2019--Bonnie Sinnock (subscription)Fees that new legislation will force the Internal Revenue Service to charge users for system modernization will fund improvements that could dramatically shorten processing times for mortgage companies' tax transcript requests.
Full Story
What to Watch for at Fed’s Jackson Hole Symposium
Wall Street Journal, Aug. 23, 2019--Nick Timiraos (subscription)Federal Reserve officials will be joined by academic economists and central bankers from around the world at a mountain resort near Jackson Hole, Wyo., on Friday and Saturday for the Kansas City Fed's annual economic symposium.
Full Story
How Low Will Fixed-Rate Mortgages Go?
Orange County Register, Aug. 22, 2019--Jeff Lazerson"Never say never," said Mike Fratantoni, chief economist of the Mortgage Bankers Association when asked if the U.S. could see negative mortgage rates.
Full Story
Phone Companies Ink Deal With All 50 States And D.C. To Combat Robocalls
NPR, Aug. 22, 2019--Brakkton BookerThe agreement, which amounts to a set of anti-robocall principles, is aimed at combating and preventing the phone-ringing annoyance. The tech giants will also provide other call blocking and call labeling for those customers who want more screening tools.
Full Story
Overcoming Fintech Hurdles
Mortgage Media, Aug. 22, 2019Earlier this month at the CMBA Mortgage Innovators Conference, held in San Diego, Mortgage Media spoke with many industry leaders and visionaries about a wide range of topics related to fintech and innovation.
Full Story

Residential Finance News

Commercial/Multifamily News

MBA News

MISMO Seeks Input on Consent Language for Tax Transcripts to Comply with Taxpayer First Act
MISMO®, the mortgage industry standards organization, seeks industry participants to collaborate on developing standardized language to gain consent for use of tax transcripts by stakeholders throughout the mortgage process.
Full Story
Upcoming MBA Education School of Mortgage Banking I Courses
MBA Education presents its popular School of Mortgage Banking Course I this summer and fall.
Full Story