The Lede

Top National News

Mortgage Rates Poised to Drop after Federal Reserve Announcement
Washington Post, June 20, 2019--Kathy OrtonMortgage rates showed little change heading into the Federal Reserve meeting. But now that the central bank has revised its stance, they could be headed lower. (MBA mention)
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10-Year Treasury Yield Falls Below 2%, Defying Expectations
Wall Street Journal, June 20, 2019--Steven Russolillo, Daniel Kruger (subscription)A fresh scramble for U.S. government debt has driven the benchmark 10-year yield back below 2%, a situation few economists or investors foresaw a few months ago.
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Big Banks Face Less Stress in This Year’s Fed Tests
Wall Street Journal, June 20, 2019--Lalita Clozel (subscription)The Federal Reserve is releasing results of annual stress tests for big banks in two parts, on Friday, June 21, and Thursday, June 27. The firms could have an easier time with the exams because the Fed for this year overhauled several components, including a test of how firms would fare under a hypothetical doomsday scenario.
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Situs Group Merges with American Mortgage Consultants
HousingWire, June 20, 2019--Jessica GuerinThe merged enterprise will rebrand as SitusAMC and offer services and tech services to commercial and residential real estate firms.
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Senators Seek to Reassure Small Businesses about AML Bill
American Banker, June 20, 2019--Kate Berry (subscription)Members of the Senate Banking Committee sought to allay the concerns of small businesses at a hearing Thursday on a bill to require firms to identify their true owners when incorporating by providing four basic pieces of information.
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Low Mortgage Rates Trigger More Loan Applicatins–And Longer Delays
Pasadena Star-News, June 20, 2019--Jeff LazersonMissing pages, missing documents and failure to respond to questions are among the biggest holdups for getting a loan approved. (MBA mention)
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U.S. Labor Market on Solid Ground; Manufacturing Struggling
Reuters, June 20, 2019--Lucia MutikaniAmericans filing applications for unemployment benefits fell more than expected last week, pointing to underlying labor market strength despite a sharp slowdown in job growth in May.
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