The Lede

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America’s Small Lenders
The Economist, Jan. 5, 2019--Bob Broeksmit, CMB (subscription)In this letter to the editor, MBA President and CEO takes issue with story suggesting non-bank lenders pose harm to the housing finance system and defends the role of independent mortgage banks.
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Federal Shutdown Creating Mortgage Victims
Chicago Tribune, Jan. 7, 2019--Kenneth HarneyWhen the government shuts its doors because of a funding brouhaha that pits the White House against Capitol Hill, who gets hit hardest among people needing a home mortgage? The latest version of federal breakdown made one fact painfully clear: It all depends on the type of loan you seek and where you're located.
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Experts Weigh In on What the 2019 Housing Market Will Bring
Washington Post, Jan. 7, 2019--Kathy OrtonThe Mortgage Bankers Association expects moderate growth in home purchase mortgage originations, with refinance volume continuing to decline. It anticipates the 30-year fixed-rate mortgage will level out at 5.1 percent.
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Supreme Court Debates the Meaning of the Term ‘Debt Collector’…
CNBC, Jan. 7, 2019--Tucker HigginsIn a brief, an array of business groups including the Chamber of Commerce and the Mortgage Bankers Association wrote that applying Fair Debt Collections Practices Act protections to the foreclosure process would add "an additional, unwarranted layer of complexity in the foreclosure process, thereby harming both lenders and borrowers."
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Lennar, Mortgage Company Loaned to Unqualified Borrowers and Deceived Feds, Lawsuit Alleges
Tampa Bay Times, Jan. 7, 2010--Susan Taylor MartinIn a lawsuit filed in Pinellas County Circuit Court, Wanda Burling says she repeatedly complained to a vice president at Eagle Home Mortgage about the company's lending practices only to be warned to "let it go'' if she wanted to keep her job.
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House Diversity Panel a Double-Edged Sword for Banks
American Banker, Jan. 7, 2019--Neil Haggerty (subscription)A new House subcommittee planned by Democrats to focus on diversity in banking and financial inclusion is getting high marks not just from public interest groups but also industry groups that say it could foster regulatory reforms needed to reach more customers.
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Falling Mortgage Rates Raise Hopes for Battered Housing Market
Wall Street Journal, Jan. 7, 2019--Ben Eisen, Laura Kusisto (subscription)Mortgage rates have fallen to around their lowest levels in eight months, offering a potential boost to the housing market after a rough patch in recent months.
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Nellie Liang Withdraws From Consideration for Fed Board Seat
Wall Street Journal, Dec. 7, 2019--Nick Timiraos, Andrew Ackerman (subscription)Former Federal Reserve economist Nellie Liang, whom the Trump administration had nominated to serve on the central bank's board of governors, withdrew from consideration Monday, a casualty of opposition from the banking industry which feared she would stymie efforts to loosen financial regulation.
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Watt Out: Occ’s Otting Officially Takes Over as Director
HousingWire, Jan. 7, 2019--Ben LaneGoing forward, the Federal Housing Finance Agency will be led by Comptroller of the Currency Joseph Otting, who was picked by President Donald Trump to serve as acting director of the FHFA while Mark Calabria is awaiting Senate confirmation to replace Watt on a permanent basis.
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MBA Premier Member Profile: DocMagic
Founded in 1987 and headquartered in Torrance, Calif., DocMagic provides Document Generation, Compliance, eSign, eDelivery and comprehensive Digital Transaction Solutions for the mortgage industry.
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