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Volume 15 | Issue 212 | Friday, October 28, 2016

The Lede


Despite Technology Availability, Mortgage Customer Service Still Falls Short

BOSTON--Greg Yeager, director of strategic initiatives with Simplifile, Provo, Utah, says lenders and servicers need only look at anecdotal evidence to see that consumers still consider the mortgage experience too burdensome.


Top National News

Mortgage Firms Warned About HMDA Noncompliance

Mortgage Daily, Oct. 28, 2016

Dozens of mortgage bankers and mortgage brokers have been warned that they might not be in compliance with Home Mortgage Disclosure Act requirements.

Experts: PHH Court Ruling Bruises CFPB, Wells Fargo Scandal Ensures its Future

GoRion, Oct. 27, 2016--Wisniowski, Charles

Industry observers predict that a recent adverse D.C. appeals court ruling will leave a lasting mark on the Consumer Financial Protection Bureau.

MBA Announces New Directors, Governors and Committee Chairs

National Mortgage Professional, Oct. 27, 2016

The Mortgage Bankers Association announced its new Board of Directors, members of the Residential Board of Governors, members of the Commercial Real Estate/Multifamily Finance Board of Governors and Residential Committee Chairs 2017.

Feds Seek to Block Release of Fannie Mae and Freddie Mac Memos

Fortune, Oct. 27, 2016--Parloff, Roger

Invoking an emergency procedure, the Justice Department appealed a judge's order that would force the government to turn over documents that might shed light on why Fannie Mae and Freddie Mac were effectively nationalized in August 2012.

Pressure Building on FHA to Cut Premiums Again

National Mortgage News, Oct. 27, 2016--Collins, Brian

A financial report due out soon could reignite a battle over whether the Federal Housing Administration should again reduce its annual premium.

Ocwen Discloses Possible CFPB Action

Mortgage Daily, Oct. 27, 2016

Ocwen Financial Corp. revealed it is working with the Consumer Financial Protection Bureau to avoid actions that could have a material impact on the company.

Barclays Is Trying to Cap U.S. Mortgage Penalty at $2 Billion

Bloomberg, Oct. 27, 2016--Ring, Suzi; Morris, Stephen; Farrell, Greg

Barclays Plc is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high.

Tepid Demand for Ginnie Servicing Rights: How Big a Problem Is It?

National Mortgage News, Oct. 27, 2016--Sinnock, Bonnie

A market that some Ginnie Mae issuers tap to help finance their mortgage operations has a dwindling number of investors.

Why Credit Scores Are Improving for Previously Foreclosed Borrowers

National Mortgage News, Oct. 27, 2016--Passy, Jacob

Millions of consumers' credit reports will no longer reflect past mortgage problems, which could open up borrowing opportunities for many of them.

Mortgage Rates Pull Back Ahead of Federal Reserve Meeting

Washington Post, Oct. 27, 2016--Orton, Kathy

After two weeks of spikes, mortgage rates retreated this week, falling back to where they had hovered most of the summer.

Homeownership Rate Continues to Hover Near 50-Year Low

HousingWire, Oct. 27, 2016--Ramirez, Kelsey

Industry awaits spike in Millennial homeownership.

Mortgage Rates Down But Poised to Jump

Mortgage Daily, Oct. 27, 2016--Garcia, Sam

Interest rates on residential loans improved nicely over the past week. But recent market activity suggests fixed rates could be higher in the next report.

Mixed Restaurant Sales Hint at Tough Environment Ahead

National Real Estate Investor, Oct. 27, 2016--Mitchell, Donna  

Decent chain restaurant performance figures potentially reassure retail landlords that restaurant tenants still generate foot traffic and sales. But the more important same-store sales metrics can tell a different story.

Yes, the Economy is Finally Ready for Another Interest Rate Hike

HousingWire, Oct. 27, 2016--Ramirez, Kelsey Should the Fed raise the funds rate in December? The answer is simple: yes.

U.S. Durable Goods Orders Declined in September

Wall Street Journal, Oct. 27, 2016--Sussman, Anna Louie

U.S. manufacturing appears to have found firmer ground as it closed out quarter.

Residential Finance News

September Pending Home Sales Up Slightly

Stabilize after Sharp August Dip

Beyond the Headlines--Using IT Substitution Across Functions

Mid-tier and community institutions are being presented an unprecedented opportunity to carve out profitable, leadership products and services using three intersecting trends--data & analytics, cloud delivery and hyper-connectivity.

Residential Briefs

News from Fannie Mae; LoanBeam; Equifax; Simplifile; MetaSource; ComplianceEase; Roostify; STRATMOR; ClosingCorp; Alterra  

Commercial/Multifamily News

ULI: CRE Industry Reducing Energy Consumption, Carbon Emissions and Water Usage

Buildings Responsible for Nearly One-Third of Carbon Emissions

Dealmaker: HFF Arranges $77M for Retail, Office Properties

One Refinance, One Post-Close Acquisition Loan

MBA News

MBA Accounting & Financial Management Conference in San Diego Nov. 15-17

Residential and Commercial/Multifamily Tracks Available

MBA Education Residential Underwriting Basics Webinar Series Begins Oct. 31

Four-Part Series Looks at Eligibility, Income, Credit & Assets, Collateral

MBA Education Multifamily Property Inspection Workshop in Dallas Nov. 2-3

Learn Best Practices to Meet Fannie Mae/Freddie Mac Requirements

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856

Advertising Opportunities: Bill Farmakis 203/834-8832

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