The Lede

Top National News

Mortgage Rates Continue Their Six-Week Decline, Falling to Nine-Month Lows
Washington Post, Jan. 10, 2019--Kathy Orton (MBA mention)The 30-year fixed-rate mortgage rate tumbled to 4.45 percent with an average 0.5 point, Freddie Mac reported.
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Milken: FHFA SHould Pave Way for Housing Reform
Scotsman Guide, Jan. 10, 2019--Victor WhitmanThe Milken Institute, in a new paper, recommended that the Trump Administration clear a path for the government to end its 10-year control of Fannie Mae and Freddie Mac, but not release control over the government-sponsored enterprises until Congress addresses their "flawed charters." (MBA mention)
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Mortgage Rates and Credit Availability Fall
National Mortgage Professional, Jan. 10, 2019--Phil HallThe Mortgage Bankers Association reported that its Mortgage Credit Availability Index fell by 7.3 percent to 175 in December, its lowest level since February 2017.
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Trump Administration Nears Release of New Overtime Proposal
Wall Street Journal, Jan. 10, 2019--Eric Morath (subscription)The Labor Department sent its proposed overtime rule to the White House for review, which could allow the regulation determining how many Americans are entitled to extra pay when working more than 40 hours to be finished by late this year.
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Government Shutdown Increases Mortgage Lender Credit Risk: Moody’s
National Mortgage News, Jan. 10, 2019--Brad Finkelstein (subscription)The government shutdown could affect mortgage origination credit quality as lenders miss some red flags normally found using data that is not currently available, according to a report from Moody's.
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Amrock Denied: Judge Won’t Grant New Trial in $740 Million Fight with HouseCanary
HousingWire, Jan. 10, 2019--Ben LaneHouseCanary is one big step closer to collecting one of the largest and most unlikely legal awards in the history of the housing industry after a Texas judge denied Amrock's request for a new trial in the two companies' battle over the alleged theft of trade secrets.
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Ginnie’s Bright to Leave for Private Sector Post
The Mortgage Leader, Jan. 10, 2019Michael Bright, executive vice president and COO of Ginnie Mae, has accepted a position in the private sector and will resign from his position on January 16. Bright will serve as CEO of the Structured Finance Industry Group, a trade group.
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House Passes Bill to Fund Transportation Dept., HUD
The Hill, Jan. 10, 2019--Juliegrace BrufkeThe Democratic-led House passed a standalone spending measure Thursday to provide funding for the Departments of Transportation, Housing and Urban Development and other agencies.
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CFPB Mortgage Rule Didn’t Cost Industry Much, Agency Says
American Banker, Jan. 10, 2019--Kate Berry (subscription)The industry's worst fears about higher costs and less available credit stemming from the Consumer Financial Protection Bureau's mortgage rules have not materialized in the years since those regulations were written, the bureau said Thursday.
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Lenders Coming to Aid of Workers Affected by Government Shutdown
Orange County Register, Jan. 10, 2019--Jeff LazersonRefreshing is the word that comes to mind as the lending industry prepares for a possible wave of unpaid and furloughed federal workers in need of mortgage payment forbearance, late charge waivers and a pass on reporting mortgage late payments to the credit bureaus.
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Residential Finance News

Commercial/Multifamily News

MBA News

Call for Nominations for MBA Insights 2019 Tech All-Star Awards; Deadline Today
The Mortgage Bankers Association and MBA Insights are accepting nominations for the MBA Insights 2019 Tech All-Star Awards. Nominations will be accepted through today, Jan. 11.
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MBA Education Ten Things Your Mortgage Company Must Do in 2019 Webinar Jan. 17
MBA Education presents a webinar, Ten Things Your Mortgage Company Must Do in 2019, on Wednesday, Jan. 17 from 2:00-3:30 p.m. ET.
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