The Lede
Top National News
Weekly Mortgage Applications Fall as Rates Rise…
CNBC, June 19, 2019--Diana OlickTotal mortgage applications were down 3.4% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. But volume was up 31.6% from the same week a year ago.
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Mortgage Refinancings Poised to Speed Up, Challenging Traders
Bloomberg, June 19, 2019--Christopher MaloneyThough June speeds should come in flat or even slightly lower due to a reduced day count compared to May, the August report should show prepayments to be about 20% higher than current levels, according to a recent report by JPMorgan MBS strategists.
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Studying the Gender Gap in Mortgage Knowledge
MReport, June 19, 2019--Mike AlbaneseWhile prior reports by LendingTree have found single women own homes at higher rates than men, the Consumer Finance Protection Bureau reports that women have less knowledge on mortgages than men, possibly leading to higher costs.
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Where GSE Reform Could Be Headed and What It Could Mean for Lenders
National Mortgage News, June 19, 2019--Bonnie Sinnock (subscription)Since becoming Federal Housing Finance Agency director, Mark Calabria has sent ever clearer signals that the White House is prepared to take unilateral action that would at least start Fannie Mae and Freddie Mac back on the path to private-sector ownership.
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Anti-Trust Lawsuits Contesting Buyer Broker Compensation Rules Heat Up
HousingWire, June 19, 2019--Jessica GuerinIn recent months, the National Association of Realtors and four leading multiple listings service providers have been hit with two class-action lawsuits taking aim at buyer broker compensation rules. Now, things are heating up as the two plaintiffs have teamed together, filing an amended complaint in Chicago federal court.
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Fannie and Freddie’s Latest Push: Factory-Built Homes
Wall Street Journal, June 19, 2019--Ben Eisen, Nicole Friedman (subscription)Mortgage giants hope to help low- and middle-class Americans buy homes but programs' narrow reach and consumer bias impede progress.
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Former CFPB Official Criticized or Blog Posts Joins Ginnie Mae
National Mortgage News, June 19, 2019--Kate Berry (subscription)Ginnie Mae has hired Eric Blankenstein, a former political appointee at the Consumer Financial Protection Bureau who sparked controversy over writings more than a decade ago in which he used a racial slur, sources said.
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Exploring Racial Discrimination in Mortgage Lending: A Call for Greater Transparency
Clever.com, June 2019--Eylul TekinThe author's analysis of Home Mortgage Disclosure Act data show racial disparities persist in mortgage lending, with African-Americans twice as likely to be denied a mortgage when controlling for income.
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