The Lede

Top National News

Lowest Mortgage Rates in a Year and a Half Don’t Impress Homebuyers
CNBC, June 5, 2019--Diana OlickMortgage rates are falling fast but not enough to offset high home prices. Buyers are still pulling back. Total mortgage application volume increased 1.5% last week from the previous week and 12% from a year earlier, according to the Mortgage Bankers Association.
Full Story
Most Consumers Overestimate What it Takes to Get a Mortgage
HousingWire, June 5, 2019--Jessica GuerinWhen it comes to obtaining a mortgage, the majority of consumers think it requires a higher credit score and larger down payment than is actually necessary, according to a recent survey by Fannie Mae.
Full Story
CMBS Delinquency Rate Continues to Plunge
National Mortgage Professional, June 5, 2019--Phil HallThe commercial mortgage-backed securities delinquency rate published by Trepp LLC hit another post-financial cross low in May, falling 16 basis points to 2.66 percent.
Full Story
CFPB Finds Freedom Mortgage Intentionally Reported Inaccurate HMDA Data
HousingWire, June 5, 2019--Ben LaneLoan officers at Freedom Mortgage intentionally reported inaccurate Home Mortgage Disclosure Act data over a several-year period, the Consumer Financial Protection Bureau said Wednesday, announcing it fined the company $1.75 million.
Full Story
Beseiged Florida Banking Regulator Avoids Firing–For Now
American Banker, June 5, 2019--Kate Berry (subscription)Florida Gov. Ron DeSantis said this week that he will wait for a report by a state inspector general tasked with investigating the allegations before deciding whether to fire Banking Commissioner Ron Rubin, a former Republican staffer on the House Financial Services Committee, who had been in the superintendent job less than three months.
Full Story
Survey 40% of Top Economists Expect Fed to Cut Rates Over Next Year, June 6, 2019--Sarah Foster"Despite a strong domestic economy and job market, the global economy is slowing, financial markets are skittish, and inflation is low, all leading the Fed to take this ‘wait-and-see' approach," says Mike Fratantoni, chief economist at the Mortgage Bankers Association.
Full Story
Herbert Sandler, Home Mortgage Lender and Philanthropist, Dies at 87
Wall Street Journal, June 5, 2019--James R. Hagerty (subscription)Herbert M. Sandler, who spent the last 13 years giving away a fortune he and his wife made in the home-mortgage market, died Wednesday in San Francisco at age 87, the Sandler Foundation announced on his website.
Full Story
ADP: U.S. Added 27,000 Private-Sector Jobs in May, the Lowest Number Since 2010
Washington Post, June 5, 2019--Taylor TelfordPrivate employers added fewer workers in May than any month in the past nine years, falling far short of analyst estimates and sending a troubling signal about the state of the U.S. labor market.
Full Story

Residential Finance News

Commercial/Multifamily News

MBA News