The Lede

Top National News

What this Mortgage Expert Says is Behind the Refinancing Boom
CNBC, Aug. 28, 2019Robert Broeksmit, CMB, Mortgage Bankers Association President and CEO, joins "Squawk on the Street" to discuss the wave of mortgage refinancing as rates fall.
Full Story
Mortgage Applications Fell as Mini Refinance Boom Lost Some Steam
Mortgage Orb, Aug. 28, 2019--Patrick BarnardMortgage application volume fell 6.2% on an adjusted basis during the week ended August 23, with most of the decrease coming from an 8% drop in applications for refinances, according to the Mortgage Bankers Association's Weekly Applications Survey.
Full Story
Homeowners are Sitting on a Record Amount of Cash, But They’re Not Really Tapping It
CNBC, Aug. 28, 2019--Diana Olick"Savings have increased significantly since before the Great Recession, so the household balance sheet is just in a better position," said Bob Broeksmit, president and CEO of the Mortgage Bankers Association. "Perhaps the need to tap that equity is a little bit lower and there is a little bit more discipline among consumers."
Full Story
GOP Sen. Johnny Isakson to Resign at End of Year
The Hill, Aug. 28, 2019--Jordain CarneyGOP Sen. Johnny Isakson (Ga.) announced Wednesday that he will step down from the Senate at the end of the year, citing health issues.
Full Story
Fintech Firm Buys Hip Pocket Platform for Mortgage Leads
National Mortgage Professional, Aug. 28, 2019--Phil HallHT Mobile Apps, an Ann Arbor, Mich.-based fintech, acquired Hip Pocket, an online platform designed to use social influence and personalized consultation for generating new and qualified mortgage and retirement leads. Terms of the deal were not disclosed.
Full Story
Unconventional Mortgages Attract Warning From Regulator
Wall Street Journal, Aug. 29, 2019--Lalita Clozel (subscription)Asset-depletion loans, also known as asset-dissipation loans, are part of a small but growing subset of the mortgage market that includes subprime loans and other riskier products. They assume borrowers draw from assets to cover a mortgage, rather than just income.
Full Story

Residential Finance News

Commercial/Multifamily News

MBA News

MBA Education Foundational Elements of Mortgage Servicing Rights Workshop in San Diego Nov. 19
MBA Education presents Foundational Elements of Mortgage Servicing Rights Workshop, at the Marriott Marquis San Diego Marina on Tuesday, Nov. 19 in conjunction with the MBA Accounting and Financial Management Conference.
Full Story