The Lede

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SunTrust to Relocate Mortgage Leadership Team from Richmond to N.C. as Part of Planned BB&T Merger
Richmond Times-Dispatch, May 24, 2019--John Reid Blackwell, Gregory J. GilliganSunTrust confirmed this week that it plans to locate the leadership team for the combined company's mortgage business in Greensboro, N.C., which will mean relocating leadership positions from SunTrust Mortgage operations in South Richmond.
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Builders Less Confident in Multifamily Market
National Mortgage Professional, May 24, 2019--Phil HallBuilder confidence in the market for new multifamily housing frayed during the first quarter, according to the latest Multifamily Market Survey released by the National Association of Home Builders.
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Freedom Mortgage to Acquire RoundPoint Mortgage Servicing
HousingWire, May 24, 2019--Jessica GuerinFreedom Mortgage and RoundPoint Mortgage Servicing are planning to merge, the companies announced Friday. The deal will make RoundPoint--which services and subservices about $91 million in mostly agency loans--a wholly owned subsidiary of Freedom, a full-service, nonbank mortgage lender and servicer.
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Florida Is the Big Winner as the Wealthy Move Out of Northern States
Bloomberg, May 24, 2019--Lee J. Miller, Wei LuFlorida and South Carolina enjoyed the top economic gains, while Connecticut, New York and New Jersey faced some of the biggest financial drains, according to a Bloomberg analysis of state-to-state moves based on data from the Internal Revenue Service and the U.S. Census Bureau.
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REITs Bet Big on the Mortgage Market
Wall Street Journal, May 28, 2019--Ben Eisen (subscription)A once-sleepy corner of American housing finance is increasingly buying up mortgages, and it stands to grow further as the government's role in the market shrinks. (MBA Chief Economist Mike Fratantoni mention)
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The Silver Lining Amid the China Trade War? Lower Mortgage Rates
Fox Business News, May 24, 2019On the heels of continued trade tensions with China, mixed economic data and volatile markets, there is one silver lining for Americans: lower home mortgage interest rates.
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First American Financial Corp. Leaked Hundreds of Millions of Title Insurance Records
Krebs On Security, May 24, 2019--Brian KrebsThe digitized records--including bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and drivers license images--were available without authentication to anyone with a Web browser.
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CFPB’s Kraninger Digs in Over Halt to Military Lending Exams
National Mortgage News, May 27, 2019--Kate Berry (subscription)Kathy Kraninger, the director of the Consumer Financial Protection Bureau, is in a standoff with Senate Democrats over the bureau's refusal to examine financial firms for compliance with the Military Lending Act.
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NAR Files Motion to Dismiss Anti-Trust Lawsuit over Buyer Broker Commissions
HousingWire, May 24, 2019--Jessica GuerinThe suit alleges that the MLS providers conspire with NAR to require sellers to pay buyer's broker's fees at inflated rates in violation of anti-trust laws, and that practice has "saddled home sellers with a cost that would be borne by the buyer in a competitive market." NAR contests this assertion, claiming that it has no role in determining the buyer broker's fee.
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Odd Parcels: Landlord Woes, Auto Loans, Parental Help
UExpress, May 24, 2019--Lew SichelmanMuch has been said about how student debt is hurting the ability of many millennials to qualify for a mortgage. But lenders may be starting to take a harder look at the amount of money would-be borrowers are paying every month for their fancy BMWs, Mercedes and Ram trucks.
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