The Lede
Top National News
Crapo Planning Two Days of Senate Banking Committee Hearings on GSE Reform
American Banker, Mar. 15, 2019--Hannah Lang (subscription)The Senate Banking Committee will hold two days of hearings at the end of March on Chairman Mike Crapo's most recent framework for housing finance reform. Robert Broeksmit, President and CEO of the Mortgage Bankers Association, and Vince Malta, president-elect of the National Association of Realtors, are among the witnesses slated to testify at the March 27 hearing.
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New Home Mortgage Applications Are Rising, and So are the Loan Amounts
National Mortgage News, Mar. 15, 2019--Elina Tarkaziks (subscription)Mortgage applications for new-home purchases are on the rise, and their loan amounts are also getting larger, according to the Mortgage Bankers Association.
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Is San Francisco the World’s Most Expensive Rental Market?
HousingWire, Mar. 15, 2019--Caroline Basile Spoiler alert: yes. Yes, it is.
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What’s Behind OCC’s Public Rebuke of Wells Fargo?
American Banker, Mar. 15, 2019--Kate Berry (subscription)Traditionally, the federal banking agencies are extremely cautious to even name specific banks, concerned the attention could lead to deposit outflows or other fallout. But the regulators - most notably the Office of the Comptroller of the Currency--appear to be taking a different tack with Wells, feeding statements to the press that do little to hide their frustration with the megabank.
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Time for the Housing Market to Spring Forward
CNN, Mar. 17, 2019"The housing market remains poised for a strong spring," said Joel Kan, associate vice president of economic and industry forecasting for the Mortgage Bankers Association. "We are starting to see signs of more new residential construction and inventory, which increases buying opportunities for the many home shoppers who have been hampered by the ongoing lack of supply."
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Federal Reserve Rate Projections Could Show Greater Confidence in Extended Pause
Wall Street Journal, Mar. 17, 2019--Nick Timiraos (subscription)Federal Reserve officials are likely to end their meeting this week signaling little if any appetite to raise interest rates this year, part of a strategy designed to reduce the risks of a sharp slowdown in global economic growth.
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‘Bank of Mom & Dad’ Ranks 7th Among Mortgage Originators
The Financial Brand, Mar. 18, 2019--Steve CocheoIf the "Bank of Mom & Dad" would have an enviable balance sheet if it was a chartered institution. According to a new study, this figurative bank now ranks as the seventh-largest housing loan originator.
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U.S. Fintech FIS to Buy Payment Processor Worldpay for about $35 Billion
Reuters, Mar. 18, 2019--Justin George VargheseU.S. fintech group Fidelity National Information Services Inc agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry.
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New Tools to End Buyer-Seller Battles
UExpress, Mar. 15, 2019--Lew SichelmanIf you are familiar with inspection reports, you know they can be lengthy and detailed--and therefore difficult to decipher. They also offer little, if any, insight into what it might cost to repair what the inspector says needs to be fixed.
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