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Volume 15 | Issue 200 | Friday, October 14, 2016

The Lede

 

Immigrants ‘Closing Gap' on Native-Born in Homeownership

Trulia, San Francisco, said when it comes to the American dream of homeownership, immigrants are closing the gap on the native-born.

 

Top National News

 
New Home Purchase Apps Rise in September: MBA

National Mortgage News, Oct. 13, 2016--Passy, Jacob

Loan applications for new home purchases rose 3% in September over the previous year, but continued year-over-year growth could be subdued for the rest of 2016, according to the Mortgage Bankers Association.

Small Lenders Worry GSE Moves Will Leave Them Behind

National Mortgage News, Oct. 13, 2016--Collins, Brian

The Mortgage Bankers Association wants FHFA to continue to build on its credit risk transfer programs and accelerate the transfer of credit risk to private investors. But it acknowledges FHFA needs to ensure fair access for smaller lenders.

Mortgage Rates Rise in Anticipation of Federal Reserve Rate Increase Later this Year

Washington Post, Oct. 13, 2016--Orton, Kathy

Mortgage rates remain quite low by historical standards, but even a modest increase is sufficient to significantly reduce refinance application volume, said MBA Chief Economist Mike Fratantoni.

Will CFPB Ruling Spur Banks to Reopen Old Enforcement Actions?

National Mortgage News, Oct. 13, 2016--Berry, Kate

Companies weighing whether to reopen past settlements with the Consumer Financial Protection Bureau after a federal appeals court limited the agency's powers may want to think twice, according to industry experts.

Wells Fargo's Textbook Case of Botched Crisis Management

Wall Street Journal, Oct. 13, 2016--Glazer, Emily

CEO John Stumpf slow to respond to outrage over employee misdeeds, stonewalled senators and irked No. 1 shareholder Warren Buffett

Stated Income Mortgages Quietly Return to RMBS

GoRion, Oct. 13, 2016--Curry, Kerry

Stated income loans all but disappeared after the housing crisis, but they, along with other forms of subprime lending, have quietly returned, albeit often under new terminology.

How Technology Is Revolutionizing CRE Investing

National Real Estate Investor, Oct. 13, 2016--Chivetta, A.J.

Momentum is building toward a tech-driven revolution that promises to provide a much-needed dose of modernization to commercial real estate investing.

The Foreclosure Crisis Is Over, But Not in Every State

Atlanta Journal-Constitution, Oct. 13, 2016--DiGangi, Christine

The housing crisis played out differently state by state, and foreclosure can take a very long time in some jurisdictions.

Are Men or Women Getting the Better Deal on a Mortgage?

Aol.com, Oct. 13, 2016--Lake, Rebecca

Research reveals that while women are statistically better than men at keeping up with their mortgage payments, they're also more likely to pay more for a loan.

Fed Buys $8 Billion of Mortgage Bonds, Sells None

Reuters, Oct. 13, 2016

The Federal Reserve bought $7.957 billion of agency mortgage-backed securities in the week from Oct. 6 to Oct. 12, compared with $10.901 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.

Economists Believe a Recession Is Likely Within Next Four Years

Wall Street Journal, Oct. 13, 2016--Zumbrun, Josh

In WSJ survey, GDP forecasts are little changed at 2.2% in 2017, 2% in 2018.

Manhattan Apartment Rents Decline After 35% Surge in Listings

Bloomberg, Oct. 13, 2016--Carmiel, Oshrat

Manhattan apartment rents fell last month as landlords' pricing power was hurt by a wave of new listings and tenants who shopped around for better deals.

2 Mortgage Executives Promoted

Mortgage Daily, Oct. 13, 2016--Garcia, Sam

Wells Fargo & Co.'s head of home lending Franklin Codel will join the company's operating committee and take over all of consumer lending.

Another Record Quarter for McLean Mortgage

Mortgage Daily, Oct. 13, 2016

A rise in home lending at McLean Mortgage Corp. pushed quarterly volume.

U.S. Jobless Claims at 43-Year Low; Import Price Deflation Easing

Reuters, Oct. 13, 2016--Mutikani, Lucia

The number of Americans filing for unemployment benefits held at a 43-year low last week, pointing to sustained labor market strength that could pave the way for the Federal Reserve to raise interest rates in December.

Residential Finance News

 
Residential Briefs

News from Calyx; idsDoc; LRES; Roostify; Optimal Blue; Seroka; ATTOM; UtilityScore

Commercial/Multifamily News

 
2Q Small-Balance Lending 'Vigorous'

Slightly Behind 2015's Record-Setting Pace

MBA News

 
Captains Mark, Scott Kelly Keynote MBA Annual Convention & Expo

Annual Convention Returns to Boston Oct. 23-26

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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