The Lede
Top National News
Mortgage Servicers Fret Over Interest Rate Hike, New Capital Rules
National Mortgage News, Oct. 19, 2015--Collins, Brian
Mortgage Servicers are concerned about capital requirements and compliance costs that are putting the squeeze on profits and particularly small servicers. "That will absorb a lot of capital that won't be available to support new servicing assets," said David Stevens, president and chief executive of the Mortgage Bankers Association.
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MBA Swears in 2015-16 Leadership
National Mortgage Professional, Oct. 19, 2015--Hall, Phil
The Mortgage Bankers Association swore in its new leadership team at its 102nd Annual Convention & Expo in San Diego. Bill Emerson, CEO of Detroit-based Quicken Loans Inc., was sworn in as chairman for the 2015-16 term.
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Barclays Agrees to Settle Mortgage Lawsuits for $325 Million
New York Times, Oct. 19, 2015--Bray, Chad
British bank Barclays said on Monday that it had agreed to pay $325 million to settle two civil lawsuits related to the sale of residential mortgage-backed securities in the United States.
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Greg Reiter, Wells Fargo’s Top Mortgage Analyst, Dies at 52
Bloomberg, Oct. 19, 2015--Scully, Matt
Greg Reiter, Wells Fargo & Co.'s head of residential mortgage research who spent more than 25 years specializing in bonds backed by home loans and other securities, has died. He was 52.
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Reynolds & Reynolds Acquires International Document Services
National Mortgage News, Oct. 19, 2015--Peters, Andy
Reynolds & Reynolds, a provider of document-management software for automotive dealers, has acquired International Document Services, a provider a mortgage-document services.
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MBA Annual: Lenders Want to Lend, But Is It Safe?
HousingWire, Oct. 19, 2015--Swanson, Brena
MBA President and CEO David Stevens moved the crowd at the MBA Annual Convention & Expo, saying what everyone was thinking.
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Fannie and Freddie CEOs Say the GSEs are Changing
Scotsman Guide, Oct. 19, 2015--Whitman, Victor
Although comprehensive housing finance reform has been put on the back burner by Congress, mortgage giants Fannie Mae and Freddie Mac are being reformed from within, their chief executive officers said Monday.
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Obama Officials Resist Calls to Release Fannie Mae, Freddie Mac
Bloomberg, Oct. 19, 2015--Hopkins, Cheyenne; Perlberg, Heather
A White House official said housing-finance reform is no longer expected in the near term as he dismissed investors' calls for releasing Fannie Mae and Freddie Mac from government conservatorship.
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White House Punts on Fannie-Freddie Fate
Wall Street Journal, Oct. 19, 2015--Light, Joe
Obama administration officials on Monday rejected calls to release Fannie Mae and Freddie Mac from government control, signaling that it could be up to the next president or Congress to resolve the mortgage giants' fate.
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GE Loan Book Helps Wells Fargo Report First Profit Rise in Three Quarters
Reuters, Oct. 19, 2015--Naidu, Richa; Chitra, Rachel
Wells Fargo & Co., the biggest U.S. residential mortgage lender, reported a rise in quarterly profit for the first time in three quarters on Wednesday, helped by its purchase of commercial loans from General Electric Co.
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Residential Finance News
Commercial/Multifamily News
MBA News
Today at the MBA 102nd Annual Convention & Expo
SAN DIEGO--The Mortgage Bankers Association's 102nd Annual Convention & Expo continues today with a full slate of events.
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MBA Presents Phelan with Rosser Lifetime Achievement Award
SAN DIEGO--The Mortgage Bankers Association presented Dan Phelan, CMB, CRI, CCMS, with its E. Michael Rosser, CMB, MBA Education Lifetime Achievement Award.
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MBA Future Leaders Program Graduates 34 Residential Professionals
SAN DIEGO--The Mortgage Bankers Association recognized 34 residential real estate finance industry professionals in a graduation ceremony of its Future Leaders Program.
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