The Lede

Top National News

Mortgage Rates Shoot Up Following Bond Market Sell-Off
Washington Post, Sept. 29, 2019--Kathy OrtonThe Federal Reserve cut interest rates this week, but mortgage rates had their biggest one-week upturn in nearly a year. (MBA mention)
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Mortgage Rates for Borrowers with Damaged Credit are Dropping
Orange County Register (Calif.), Sept. 19, 2019--Jeff LazersonAt the National Association of Mortgage Brokers annual conference in Las Vegas, I found an investor with jaw-dropping sub-prime rates for borrowers with imperfect credit, starting under 4% for a 30-year fixed--even for jumbo-sized loans. (MBA mention)
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Flagstar Recovers a Small Portion of Its Loan to Live Well
National Mortgage News, Sept. 19, 2019--Brad Finkelstein (subscription)Flagstar Bank expects to recover $1 million of its loan to defunct reverse mortgage lender Live Well Financial following the sale of the collateral that secured it.
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Potential LIBOR Replacement Spikes 800 Basis Points Overnight
HousingWire, Sept. 19, 2019--Kelsey RamirezRepurchase agreement rates spiked on Tuesday from about 2% to more than 10% for some borrowers as borrowers were pressured by corporate tax payments and settlements of the newly actioned U.S. Treasuries.
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Trump Housing Plan Could Have Unexpected Consequences for FHA
National Mortgage News, Sept. 19, 2019--Hannah Lang (subscription)In its vision for the future of housing finance, the Trump administration foresees a smaller role for the Federal Housing Administration. Yet many of the ideas outlined for the FHA in a Sept. 5 report by HUD have raised eyebrows and have some former FHA officials concerned.
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Burgeoning Real Estate Giant Pretium Buys Deephaven Mortgage from Varde Partners
HousingWire, Sept. 19, 2019--Ben LanePretium, an investment management firm that already owns one of the nation's largest single-family rental operators and buys non-performing loans from Fannie Mae and Freddie Mac by the truckload, is now in the non-Qualified Mortgage lending business after acquiring Deephaven Mortgage.
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Prolonged Funding Stress Boosts Calls for Permanent Fed Fix
Bloomberg, Sept. 18, 2019--Liz McCormick, Alex HarrisThe New York Fed plans to do another $75 billion overnight repo operation on Friday. It follows liquidity doses of the same size Thursday and Wednesday, and $53.2 billion on Tuesday. The central bank is deploying this remedy for the first time in a decade.
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MBA News

MBA Accounting & Financial Management Conference in San Diego Nov. 19-21
The Mortgage Bankers Association's Accounting & Financial Management Conference takes place Nov. 19-21 at the Marriott Marquis San Diego Marina.
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