The Lede
Top National News
Amid Pressure, AIG Will Pare Down
Wall Street Journal, Jan. 26, 2016--Scism, Leslie; Beilfuss, Lisa
American International Group Inc. will sell its broker-dealer network, conduct an initial public offering of its mortgage-insurance unit and more aggressively cut costs, Chief Executive Peter Hancock said in a strategy update Tuesday, as pressure from investor Carl Icahn grows.
Full Story
Home Prices Go Up, Up and Away
National Mortgage Professional, Jan. 26, 2016--Hall, Phil
Three different data-crunching organizations have examined the state of U.S. home prices and have come to the same conclusions: Home prices show no signs of falling.
Full Story
Treat Myriad Mortgage Regs as the Sum of Their Parts
National Mortgage News, Jan. 26, 2016--Godfrey, Hans
The mortgage industry can better manage disparate regulatory requirements with a comprehensive approach that streamlines compliance.
Full Story
U.S. Consumer, Housing Data Underscore Economy’s Resilience
Reuters, Jan. 26, 2016--Burns, Dan; Mutikani, Lucia
U.S. consumer confidence improved in January despite a stock market rout and house prices accelerated in November, suggesting underlying strength in the economy despite a sharp growth slowdown in recent months.
Full Story
Mortgage Industry Divided over Further Cuts to FHA Insurance Premiums
Scotsman Guide, Jan. 26, 2016--Whitman, Victor
Now that the Federal Housing Administration's insurance fund has rebounded, some mortgage lobbyists say it's time for the Obama Administration to cut the FHA's mortgage insurance premiums for the second year in a row--but not all agree. Mortgage Bankers Association President David Stevens said a swing in the FHA's home-equity conversion mortgage program, also known as a reverse mortgage, boosted the reserve to its required minimum level.
Full Story
Huntington Says Risks in FirstMerit Deal are Manageable
Columbus Dispatch, Jan. 27, 2016--William, Mark
The last time Huntington Bancshares made a big acquisition, the bank got stuck with $1.5 billion in toxic subprime loans that blew up during the recession and help pushed the bank's stock down to a dollar. This time, Huntington says its acquisition of Akron-based FirstMerit Bank is different.
Full Story