Category: Top National News

National Mortgage News, Sept. 21, 2018–Neil Haggerty (subscription)The Federal Reserve is proposing to repeal mortgage loan originator licensing and registration requirements, as the Dodd-Frank Act transferred rulemaking authority to the Consumer Financial Protection Bureau.

American Banker, Sept. 21, 2018–Hannah Lang (subscription)Federal Housing Finance Agency Director Mel Watt and Fannie Mae CEO Timothy Mayopoulos will both testify [this] week at a House Financial Services Committee hearing to look into the FHFA’s role as conservator of the government-sponsored enterprises, a committee spokesperson said Friday.

Wall Street Journal, Sept. 20, 2018-Katherine Clarke (subscription)Entertainers Beyoncé and Jay-Z and billionaire hedge-fund executive Ken Griffin have something in common: They are among a small but growing number of ultraluxury home buyers who are borrowing tens of millions of dollars for home purchases.

National Mortgage News, Sept. 20, 2018–Elina Tarkazikis (subscription)Fiserv Lending Solutions rebrand to Sagent Lending Technologies reflects the company’s focus on a more efficient process for mortgage and consumer lenders. The move comes after Fiserv agreed to sell a majority stake of its mortgage and consumer loan origination and servicing business to private-equity firm Warburg Pincus in February.

HousingWire, Sept. 20, 2018–Alyssa StringerEmployment of loan officers is expected to grow 11% from 2016 to 2026, faster than the average for all occupations.

Bloomberg, Sept. 20, 2018–Hannah LevittWells Fargo & Co. plans to trim its workforce by about 5 percent to 10 percent within the next three years as Chief Executive Officer Tim Sloan works to pull the bank clear of a series of customer-abuse scandals and prop up a lagging stock price.

American Banker, Sept. 20, 2018–Neil Haggerty (subscription)At a time when the Trump administration is mostly appointing regulators eager to roll back post-crisis regulations, the nomination of Nellie Liang to a seat on the Federal Reserve Board is something of a throwback.

Mortgage Daily, Sept. 21, 2018Mortgage originations are expected to sink to $370 billion in the fourth quarter then deescalate further, to $328 billion, during the first-three months of next year, the Mortgage Bankers Association said.

Mortgage Daily, Sept. 20, 2018FHA reported a monthly up tick in new business, though a dip will likely follow. Single-family delinquency tumbled 48 basis points.

Reuters, Sept. 20, 2018–Lindsay DunsmuirU.S. households added nearly $2.2 trillion to their wealth from April to June this year, the Federal Reserve said on Thursday.