The Lede
Top National News
Mortgage Market Heating Up for Many Credit Unions
Credit Union Times, June 17, 2019--Jim DuPlessisReal estate originations went through a long, dark winter, but credit union managers contacted this month said conditions started warming this spring. Some are even raising their forecasts for the year, citing an uptick in refinances as rates for fixed mortgages have unexpectedly fallen. (MBA mention)
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Fed Faces Unfamiliar Dilemma With Rate Projection
Wall Street Journal, June 17, 2019--Nick Timiraos (subscription)The so-called dot plot hasn't existed during a period when markets expected the central bank's next move would be to cut rates and not to raise them.
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The Big Question for the Fed This Week: Did We Make a Mistake?
New York Times, June 17, 2019--Neil IrwinThis week, at a two-day policy meeting ending Wednesday, Federal Reserve policymakers will, implicitly, be discussing whether they've raised interest rates too much, too soon.
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N.Y. Attorney General Urges CFPB to Dismiss Proposed HMDA Rule
National Mortgage Professional, June 17, 2019--Phil HallNew York State Attorney General Letitia James urged the Consumer Financial Protection Bureau not to adopt its recently-proposed rule that would undermine the ability to enforce fair lending laws and prevent discrimination in the mortgage lending market.
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CFPB Chief’s Equal-Opportunity Calendar
National Mortgage News, June 17, 2019--Kate Berry (subscription)In her first four and a half months on the job, Consumer Financial Protection Bureau Director Kathy Kraninger was no stranger to Capitol Hill, holding in-person meetings with lawmakers more than twice as often as her predecessor did during a similar time frame.
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HomeStreet Bank Sells Off More of Its Mortgage Business to HomeBridge
HousingWire, June 17, 2019--Ben LaneHomeStreet Bank's move away from mortgages is nearing its completion, as the bank announced Monday that it completed the second part of the sale of a sizable piece of its origination business to Homebridge Financial Services.
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