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5 best ZIP codes for buying single-family rentals

National Mortgage News - 53 min 4 sec ago
Five of the top 25 ZIP codes for single-family rental purchases were concentrated in three states, according to Attom Data Solutions.

Amazon’s grocery expansion a threat to CRE, banks fear

National Mortgage News - 53 min 4 sec ago
With online retailers beginning to challenge the dominance of brick-and-mortar grocery stores, CRE loans to strip mails anchored by them look riskier.

East West Bancorp's profit jumps 20% on strong loan growth

National Mortgage News - 53 min 4 sec ago
The $36.3 billion-asset bank reported double-digit growth in C&I loans, commercial real estate loans and specialty loans to the private-equity, entertainment and energy industries in the third quarter.

Nearly half of Memphis renters are 'cost burdened'

National Mortgage News - 53 min 4 sec ago
Nearly half of all Memphis renters are "cost burdened,'' meaning they spend more than 35% of their household income on housing.

Watauga, Texas, voted the country's hottest housing market for 2017

National Mortgage News - 53 min 4 sec ago
For the second year in a row, a North Texas city is being honored as the country's hottest housing market.

Mortgage rates dip after two weeks of increases

National Mortgage News - 53 min 4 sec ago
Mortgage rates ticked down for the first time in two weeks as the 10-year Treasury yield fell to its lowest point in October, according to Freddie Mac.

Person-to-person is more credible for mortgage info than online

National Mortgage News - 53 min 4 sec ago
Originators and real estate agents are considered more trustworthy and credible by home purchasers than online sources about mortgage information, a Fannie Mae study found.

Freddie Mac revises requirements for income-based student loans

National Mortgage News - 53 min 4 sec ago
The way lenders need to submit payment information on certain student loans in order to calculate a borrower's monthly debt-to-income ratio is changing at Freddie Mac.

Trump's pick to run FHA has helped lenders fight it

National Mortgage News - 53 min 4 sec ago
For the past eight years, Brian Montgomery has helped mortgage lenders fight penalties sought by the Federal Housing Administration. Now he's President Trump's nominee to lead the agency.

B of A judge still resists erasing 'heartless' foreclosure ruling

National Mortgage News - 53 min 4 sec ago
A judge who imposed a $45 million penalty on Bank of America Corp. over a foreclosure on a California couple still isn't ready to forget the case he described as a "Kafkaesque nightmare."

Mortgages, tech expense create drag at Umpqua

National Mortgage News - 53 min 4 sec ago
Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,

Fannie, Freddie must be allowed to rebuild capital, say small banks, credit unions

National Mortgage News - 53 min 4 sec ago
In a moment of rare unity, the Independent Community Bankers of America and National Association of Federally-Insured Credit Unions sent a joint letter to FHFA arguing to stop the GSEs' profit sweep.

BB&T kept pruning its loan portfolio in 3Q

National Mortgage News - 53 min 4 sec ago
Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small.

Freddie beats Fannie to market with REIT-friendly risk-sharing deal

National Mortgage News - 53 min 4 sec ago
Called Structured Agency Credit Risk Securitized Participation Interests, the new securities are backed by mortgage loans, and are not general obligations of the government-sponsored enterprise.

CFPB issues principles on financial data sharing

National Mortgage News - 53 min 4 sec ago
The non-binding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles.

OCC-CFPB spat takes interagency discord to new level

National Mortgage News - 53 min 4 sec ago
Regulators usually avoid the public fights that define other realms of the polarized Washington landscape, but the recent tiff over the arbitration rule is an exception.

Drop in September home starts reflects slump in South

National Mortgage News - 53 min 4 sec ago
A larger-than-forecast decline in new-home construction reflected the weakest pace of building in the South since October 2015, showing the fallout from Hurricanes Harvey and Irma.

Refinance loans rise on lower interest rates in September

National Mortgage News - 53 min 4 sec ago
The percentage of refinance loans rose in September as interest rates dipped to a 2017 low, according to Ellie Mae.

Application volume rises even with little movement in rates

National Mortgage News - 53 min 4 sec ago
Mortgage applications increased 3.6% from one week earlier even though rates remained mostly flat during the period, according to the Mortgage Bankers Association.

Tennyson out at Clayton after Radian commits to restructuring

National Mortgage News - 53 min 4 sec ago
Jeff Tennyson is out as president of Radian Group's Clayton Holdings real estate services business as the holding company provided further details about its restructuring plan.