The Lede

Top National News

After Falling to Yearly Lows, Rates Head Back Up
Washington Post, Mar. 7, 2019--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.41 percent with an average 0.5 point. It was 4.35 percent a week ago and 4.46 percent a year ago. (MBA Bob Broeksmit mention)
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Mortgage Credit Increased Slightly in February
Mortgage Orb, Mar. 7, 2019--Patrick BarnardMortgage credit availability increased in February, rising 0.6% to a score of 180.1 on the Mortgage Bankers Association's Mortgage Credit Availability Index.
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American Homeowners and Their Insurers Face a Flooding Crisis From Within
Wall Street Journal, Mar. 7, 2019--Leslie Scism (subscription)Data show claims for water damage from inside leaks have surged while other types of claims have fallen.
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Democrats Seek Commitment for Change in CFPB Hearing
HousingWire, Mar. 7, 2019--Kelsey RamirezThe hearing went as anyone would expect--Democrats criticized Consumer Financial Protection Burea Director Kathy Kraninger's actions and looked back on actions taken by former Acting Director Mick Mulvaney, while Republicans asked questions that confirmed their view that the CFPB has too much power and that Congress should act to change the structure.
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U.S. Household Wealth Posts Record Loss in Fourth Quarter Amid Stock Rout
Reuters, Mar. 7, 2019--Howard SchneiderU.S. household wealth fell by a record $3.8 trillion, or 3.5 percent, at the end of 2018, and corporate bond issuance plummeted as a global market rout threatened to weaken a near-decade old recovery, the Federal Reserve reported on Thursday.
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Meet the MENtors: Dan Driscoll
Mortgage Women Magazine, March 2019--Christine BeckwithInterview with Daniel "Dan" Driscoll, mentor of Marcia Davies, Chief Operating Officer of the Mortgage Bankers Association and founder of mPower, the leading banking women organization community.
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Mortgage Brokers’ Share of Home Loans on the Rise
Orange County Register, Mar. 7, 2019--Jeff LazersonMortgage brokers are back in a big way, not just with mortgage shopper gains but also because institutionally based mortgage loan officers are transforming themselves into brokers.
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Q4 Commercial/Multifamily Mortgage Delinquencies Remain Low
National Mortgage Professional, Mar. 7, 2019--Phil HallCommercial and multifamily mortgage delinquencies stayed at their rock-bottom levels during the fourth quarter of 2018, according to data from the Mortgage Bankers Association.
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Forget the Film Glamour, U.S. Finance Workers are Set to Be Squeezed
Financial Times, Mar. 7, 2019--John Dizard (subscription) Statistics fill in part of a grim picture. Marina Walsh of the Mortgage Bankers Association says that in the third quarter of last year (the latest available figures), the average pre-tax net production income per loan reached the lowest levels for any third quarter since inception of its report in 2008.
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HUD to Lenders: We are Not Denying Mortgages to DACA Dreamers
HousingWire, Mar. 7, 2019--Ben LaneHUD, the Federal Housing Administration, Department of Agriculture and Fannie Mae are not denying mortgages to Deferred Action for Childhood Arrivals recipients, the agencies said this week. That's in spite of what some in the mortgage industry are claiming the agencies are saying about lending to DACA recipients, also called Dreamers.
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Mr. Cooper Group Records $136M Loss as Mortgage Rates Drop
National Mortgage News, Mar. 7, 2019--Bonnie Sinnock (subscription)Mr. Cooper Group took a net loss of $136 million in the fourth quarter of 2018 after lower rates hit the mark-to-market fair value of its mortgage servicing rights portfolio harder than its peers.
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Trump Administration Proposes Overtime Pay Extension
Reuters, Mar. 7, 2019--Daniel WeissnerThe Department of Labor issued a long-awaited proposal on Thursday to extend mandatory overtime pay to a million more workers, far fewer than an Obama administration rule that was struck down by a federal judge.
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