The Lede
Top National News
Blackstone Said Planning $1.1 Billion European Hotels Sale
Bloomberg, May 27, 2016--Fahmy, Dalia; Callahan, Neil
Blackstone Group LP, the world's biggest private-equity property investor, is said to plan to sell hotel buildings in London, Dublin and Amsterdam for 980 million euros ($1.1 billion).
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Nuns With Guns: The Strange Day-to-Day Struggles Between Bankers and Regulators
Wall Street Journal, May 30, 2016--Grind, Kirsten; Glazer, Emily
Among the new federal banking regulations there is one that financial wonks call "TRID," the TILA-Respa Integrated Disclosure rule. Attendees at a recent training school here for bank compliance staff, who must learn and enforce such rules, said they deciphered TRID's true meaning: "The reason I drink."
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Letter: State Must Speed Up Foreclosure Process
Buffalo News, May 30, 2016--Collins, Marianne
The author, executive director and COO of the New York Mortgage Bankers Association, says a bill addressing vacant and abandoned property legislation does not address the underlying issue or resolve the situation for neighborhoods and consumers.
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Wells Fargo to Target Millennials in Mortgage Lending Push
Financial Times, May 30, 2016--Gray, Alistair; McLannahan, Ben
Wells Fargo, the biggest provider of US home loans, is poised to boost mortgage lending again after pulling back sharply in recent years, a watershed moment that suggests banks are finally getting over post-crisis fines and regulations.
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Is There Really Any Difference Between Mortgage Lenders?
St. Louis Post-Dispatch, May 29, 2016--Sheldon, Scott
The Consumer Financial Protection Bureau has safeguards in place to make sure mortgage companies operate on a level playing field with consumers. The level playing field specifically has to do with rates, pricing and whether borrowers are getting a fair and reasonable offer from one lender to another. But how banks look at your financial picture is something else entirely.
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Chase in Homestretch of $4B Mortgage Bond Settlement
National Mortgage News, May 27, 2016--Finkelstein, Brad
JPMorgan Chase is close to satisfying its $4 billion consumer relief obligation under a residential mortgage-backed securities settlement.
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Adult Kids are a Drag
UExpress, May 27, 2016--Sichelman, Lew
According to a survey by American Consumer Credit Counseling, a national nonprofit that helps consumers with budgeting, financial education and debt management, 41 percent of those polled are providing support for one adult child. Ten percent are supporting two. The most common type of support was in the form of housing.
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The Rise and Retreat of the Megabank
Wall Street Journal, May 30, 2016--Canipe, Chris; Baer, Justin; Redegeair, Peter
Citigroup Inc. in 1998 became the first modern-day megabank. Its trajectory since reveals the rise and decline of the global bank model.
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Why Banks Are Dumping Fannie, Freddie Debt
National Mortgage News, May 27, 2016--Peters, Andy
The largest banks are dumping their holdings of Fannie Mae and Freddie Mac debt, and it's contagious. It turns out small banks have been doing the same thing.
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‘Face of the Housing Crisis’ Exonerated by Appeals Court Countrywide Hustle Ruling
HousingWire, May 27, 2016--Lane, Ben
Lost in the shuffle of the United States Court of Appeals for the Second Circuit's decision to toss the $1.27 billion penalty against Bank of America in a fraud case over defective mortgages sold by Countrywide was the fact that the court also overturned the fraud charges and voided the $1 million penalty against Rebecca Mairone, who the New York Times once referred to as the "face of the housing crisis."
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Fed’s Bullard Says Global Markets Seem Well-Prepared for Summer Rate Hike
Reuters, May 30, 2016--Kim, Christine; Lee, Se Young St. Louis Federal Reserve President James Bullard said on Monday global markets appear to be "well-prepared" for a summer interest rate hike from the Fed, although he did not specify a date for the policy move.
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