The Lede

Top National News

Movement Mortgage Acquiring Retail Operations of Platinum Mortgage
HousingWire, May 3, 2019--Jacob GaffneyThe purchase marks Movement's second acquisition of 2019, following the purchase of the retail mortgage assets of Eagle Home Mortgage.
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Lenders Opening Doors to a Wider Swath of Home Buyers
The Real Deal, May 3, 2019--Kenneth R. HarneyAccording to the Urban Institute Housing Finance Policy Center's latest quarterly credit availability report, mortgage lenders are reaching out to borrowers who might have been marginal--or rejectees--in the past. Lenders are increasing their appetite for at least slightly riskier applicants--people with lower credit scores, higher debt-to-income ratios, smaller down payments and other issues.
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Amazon Says It Will Avoid a Housing Crunch With HQ2 by Planning Better Than It Did in Seattle
Washington Post, May 3, 2019--Robert McCartney, Patricia Sullivan Amazon said its new second headquarters in Virginia will not aggravate housing problems as much as in Seattle because it will be able to plan for growth in a way that it could not in earlier years in its home base.
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Live Well Financial Halts Funding for New Loans
Reverse Mortgage Daily, May 3, 2019--Elizabeth EckerLive Well Financial has halted fundings for new reverse mortgage loans and some loans in process, according to wholesale account executives within the company.
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Ginnie Mae Moves to Crack Down on Repeated Refinancings
Wall Street Journal, May 3, 2019--Ben Eisen (subscription)The government-backed firm, which promotes homeownership by guaranteeing government mortgage bonds, is considering barring some loans backed by the Department of Veterans Affairs from inclusion in its flagship bonds.
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Initial Spring Home Buying Fails to Revive Nonbank Mortgage Employment
National Mortgage News, May 3, 2019--Bonnie Sinnock (subscription)Nondepository mortgage companies cut another 1,500 workers in March as the housing market's peak season got underway, suggesting that even with business potentially picking up, lenders remain cautious about hiring.
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Moore, Cain Withdrawals Re-Up Quest for Supporters on Fed Board
Wall Street Journal, May 5, 2019--Paul Kiernan, Alex Leary (subscription)The White House has renewed its quest for Senate-confirmable candidates for the Federal Reserve Board who will reflect President Trump's economic priorities, after his previous two choices flamed out in a messy public fashion.
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CFPB Accuses Two of the Nation’s Largest Credit Repair Companies of Tricking and Cheating Customers
HousingWire, May 3, 2019--Ben LaneThe CFPB this week filed a lawsuit against and Lexington Law, which the bureau claims are two of the country's largest credit repair companies, alleging that the companies violated the Telemarketing Sales Rule by requesting and receiving payment of prohibited upfront fees for credit repair services.
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Homeowners Fault Government for Hurricane Harvey Damage
Wall Street Journal, May 6, 2019--Sara Randazzo, Dan Frosch (subscription)Houston area residents allege the U.S. Army Corps of Engineers knew houses were at risk and now, under eminent domain law, owe them compensation.
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Maxine Waters Has a Plan to Get What She Wants From Wall Street
Bloomberg, May 6, 2019--Austin WeinsteinCommittee member Katie Porter, a California Democrat elected last year, said the panel's use of hearings helps provide genuine oversight of the financial services industry and serves to "focus the minds" of industry executives.
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Installing Floor Tiles Tops List of ‘Most Regretted DIYs’
Uexpress, May 3, 2019--Lew SichelmanOne in 12 respondents to the survey by ImproveNet--a website that connects consumers with contractors and other pros--has damaged his or her home in the process.
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MBA Compliance Essentials Consumer Complaints Resource Guide Available; Webinar May 29
The MBA Compliance Essentials Consumer Complaints Resource Guide serves as a base for the development of your company's policies and procedures in this important area. And join MBA Education on Wednesday, May 29 for an informative webinar, Update on Recent Activity & Managing Consumer Complaints.
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