The Lede

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Commercial Delinquencies Should Remain Low Despite Economic Worry: MBA
National Mortgage News, Sept. 24, 2019--Brad Finkelstein (subscription)Commercial and multifamily mortgage delinquency rates should stay at historically low levels in the near future even as economic uncertainty over trade affects U.S. businesses, according to the Mortgage Bankers Association.
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Freddie Mac Tests Underwriting Software That Could Boost Mortgage Approvals
Wall Street Journal, Sept. 24, 2019--AnnaMaria Andriotis (subscription)An effort underway at housing-finance giant Freddie Mac could increase mortgage approvals for borrowers who might otherwise be shut out of home buying. Freddie Mac has been testing underwriting software that could make mortgages more available for certain applicants including first-time home buyers and minorities.
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Average Mortgage Payments Slide for First Time in Years
The Mortgage Reports, Sept. 24, 2019--Aly J. YaleHome prices might be up, but American mortgage payments are actually falling. In fact, according to new data, the average monthly mortgage payment has dipped over 6 percent in just the last year.
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FHFA: Home-Price Gains in July Were Second-Smallest in 4 Years
HousingWire, Sept. 24, 2019--Alcynna LloydSingle-family house prices rose 5% in July from a year earlier, according to the Federal Housing Finance Agency. It was the second-smallest annual gain in more than four years, following June's 4.9% pace.
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5 Changes Lenders Want from CFPB’s Rewrite of QM Rule
American Banker, Sept. 24, 2019--Hannah Lang (subscription)The effects of that rule, which requires lenders to verify borrowers' ability to repay and provides legal protection for "qualified mortgages" with low debt-to-income ratios, so far has been limited, because of the GSE "patch." (MBA mention)
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Banks Counting on GSE Reform to Stop Mortgage Share Erosion
National Mortgage News, Sept. 24, 2019--Andy Peters (subscription)Banks have been ceding market share in home lending to nonbank lenders for years, but that could change under a Treasury Department proposal to remove Fannie Mae and Freddie Mac from conservatorship.
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Low Rates Will Push Mortgage Originations to 3-Year High, MBA Says
HousingWire, Sept. 24, 2019--Kathleen HowleyThe cheapest mortgage rates since 2016 will push U.S. mortgage originations to a three year-high this year, according to a forecast by Mortgage Bankers Association.
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U.S. Consumer Confidence Plunges in September
Reuters, Sept. 24, 2019--Howard SchneiderU.S. consumer confidence fell by the most in nine months in September, far more than expected, as Americans' economic outlooks darkened in the face of the U.S.-China trade war, according to The Conference Board.
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MBA Opens Doors Foundation Partners with on ‘Lender Challenge’
In support of the MBA Opens Doors Foundation, launched a "Lender Challenge," asking companies to join them in donating $10 per loan closed, each month for six months.
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