What Election Results Mean for 2017 Mortgage Volume

Mortgage industry observers are still sorting out the election results to determine what, if any, adjustments are needed to expectations for 2017 origination volume. Rising interest rates will trigger a downturn in refinance activity in 2017, while purchase originations will rise, the Mortgage Bankers Association said in its most recent industry forecast.

Trump Has No Plans to Change the MID: Economic Adviser

"There's nothing in the plan that currently would bring that under attack," said Steve Calk, chairman and chief executive officer of The Federal Savings Bank, and a member of Trump's economic advisory council. Any plans President-elect Donald Trump may have for tax reform don't include cutting the mortgage interest deduction, according to a member of Trump's economic advisory council .

Agents Object to New FHA Condo-Occupancy Rule

The "requirements for a building to qualify for that 35% threshold are strict, and we'll be making the case that the 35% threshold should apply equally to all buildings otherwise eligible for FHA approval," says Bill Brown, president of the National Association of Realtors. WASHINGTON - When the Federal Housing Administration recently announced a reduction in its 50% owner-occupancy requirement for FHA-approved condominium developments, the National Association of Realtors called it a "big win."

Bitter campaign between Gottheimer, Garrett is over; counting underway

One of the nation's most closely watched House races, the bitter campaign between Democratic newcomer Josh Gottheimer and Republican Rep. Scott Garrett ended Tuesday with the polls closed and the counting underway. Mirroring the presidential race, the campaign featured bitter allegations including bigotry, bribery, forgery and assault, and it shattered records for expenditures, with Gottheimer and Garrett each spending at least $4 million while outside groups and super PACs added another $6 million on GottA heimer's side.

Bay Area billionairea s ties to Clinton campaign revealed in WikiLeaks release

Bay Area billionaire philanthropist Herb Sandler, who was among those blamed for the 2008 mortgage meltdown that triggered the financial crisis, has edged back into the spotlight thanks to the WikiLeaks hacking of the email account of Hillary Clinton's campaign chairman, John Podesta. The hacked emails from Podesta show a close relationship between the wealthy Clinton donor and longtime Clinton confidante, who worked as the Sandler Foundation's grant consultant for the past 21 months.

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

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, according to a person with knowledge of the situation. The Justice Department's starting point for negotiations wasn't disclosed but was less than the $14 billion initially presented by the government to Deutsche Bank AG in its talks with the U.S. over similar allegations, two people with knowledge of the matter said.

Deutsche Bank Says DoJ Talks Ongoing as Quarterly Results Beat Forecasts

Deutsche Bank CEO John Cryan said on Thursday the institution is working to forge a deal with U.S. regulators "as soon as possible" as he presented third-quarter numbers that beat forecasts. Investors have been on tenterhooks for news on whether the lender can negotiate lower a Department of Justice fine for mis-selling mortgage-backed securities before the financial crisis ever since the bank said on Sept.

Policy Prescriptions: Trump and Clinton on economic growth

Few Americans feel satisfied with the state of the U.S. economy, making it a central focus in the presidential election between Democrat Hillary Clinton and Republican Donald Trump . The economy has improved over the past seven years from the depths of the Great Recession, but just not enough to give many voters a sense of security.

Des Plaines flood buyouts finally move forward

Des Plaines officials say government buyouts of seven flood-prone homes near the Des Plaines River finally will proceed, after more than a year in limbo due to the state budget stalemate. The seven homeowners were among the first in town to seek voluntary federal government buyouts after floodwaters ravished their properties in 2008 and 2013.

George F. Will: a judicial slap to a careless Congress

By GEORGE F. WILL WASHINGTON -- Another small step was taken last week on the steep and winding ascent back to constitutional norms. The U.S. Court of Appeals for the D.C. Circuit, the nation's second-most important court, did its judicial duty by reprimanding Congress for abandoning constitutional propriety.

Deutsche Bank Is Said to Explore Shrinking Its U.S. Operations

Deutsche Bank AG, Germany's biggest bank, is exploring shrinking its U.S. operations as mounting legal expenses threaten to eat into the firm's capital, according to two people with knowledge of the matter. Such an option is being considered as part of the bank's broader strategy review, which evaluates businesses in the context of regulatory and capital requirements, said the people, who asked not to be identified because the talks are private.

Wikileaks releases what appear to be transcripts of Hillary Clinton’s private speeches

Transcripts of Hillary Clinton's private speeches appeared to be included in a trove of thousands of emails released by Wikileaks on Friday. The transcripts, which appear to have been gleaned from speeches given to some Wall Street firms, reveal Clinton's remarks on a number of topics that, at times, appear to be both pro-markets and pro-consumer.

Berlin pursues discreet talks with U.S. officials on Deutsche Bank

Until now, German officials have played down their role in the standoff, saying it is up to Deutsche to work out a deal with the U.S. Department of Justice , which is demanding up to $14 billion to settle claims the lender mis-sold mortgage-backed securities before the financial crisis. But government officials in Berlin, speaking on condition of anonymity, told Reuters they hoped to facilitate a quick deal that would buy Deutsche Bank time to regain its footing.

RPT-Conservative lawmakers slam German economy minister over Deutsche remarks

Oct 4 Conservative lawmakers lashed out at Germany's economy minister on Tuesday for attacking Deutsche Bank's chief executive, saying the minister's job was to support the country's biggest bank, not talk it down. Sigmar Gabriel, the economy minister and leader of Chancellor Angela Merkel's junior coalition partner, the Social Democrats, criticised Deutsche Bank CEO John Cryan for blaming speculators when the bank's share price plunged last week.

REFILE-Deutsche Bank shares recover after drawing support from clients, rivals

Oct 4 Shares in Deutsche Bank rose 2.5 percent on Tuesday, benefiting from the support of its major clients and even rivals, rebounding after concern over its future last week sent the stock to a record low. German business leaders from companies including BASF , Daimler, E.ON, RWE and Siemens lined up to defend the bank in the German press over the weekend, which included a public holiday on Monday.