Category: Top National News

Wall Street Journal, Sept. 5, 2018–Dave Michaels (subscription)Elad Roisman, 37, will join the Securities and Exchange Commission after working for several years on the Senate Banking Committee, where he was the panel’s chief counsel. The Senate approved him 85 to 14 in Wednesday’s vote.

Mortgage Daily, Sept. 5, 2018Freddie Mac CEO Donald Layton informed the company’s board of directors that he plans to retire; Freddie’s executive vice president and head of multifamily, David Brinkman, has been promoted to President.

National Mortgage News, Sept. 5, 2018–Joseph OttingThe Comptroller of the Currency writes “a broad consensus has emerged that we can make a dramatic improvement in how the Community Reinvestment Act works and increase lending, investment and other banking activity where it is needed most.”

HousingWire, Sept. 5, 2018–Jacob GaffneySeptember 6, 2018, marks the 10-year anniversary of the Federal conservatorship of Fannie Mae and Freddie Mac. By the beginning of next year, the Trump administration is likely to become the dominant force overseeing the entire nation’s housing finance infrastructure.

Mortgage Daily, Sept. 5, 2018Servicing on nearly $4 billion in single-family loans that are backed by the government-sponsored enterprises is being offered for sale, mostly in Texas.

HousingWire, Sept. 5, 2018–Ben LaneWith the 10-year anniversary of the government taking Fannie Mae and Freddie Mac into conservatorship approaching, a coalition of the housing industry’s largest trade groups and others is calling on the Trump administration and Congress to enact permanent reforms to the government-sponsored enterprises.

Bloomberg, Sept. 4, 2018–Noah Buhayar, Sarah FrierSince Facebook Inc. arrived in Menlo Park, California, seven years ago, the town has been overrun by construction cranes, orange safety cones and truckloads of building materials to transform a former industrial area into a sprawling campus that can support a $500 billion tech giant.

American Banker, Sept. 4, 2018–Hannah Long (subscription)Under the proposal, Volcker Rule compliance would be revised, the rule would be tailored for institutions that participate in fewer trading activities and the definitions of certain prohibited trades would be altered.

HousingWire, Sept. 4, 2018–Caroline BasilIn their final, official roles David Stevens served as the head of the Mortgage Bankers Association and Brad Blackwell was the executive vice president of housing policy and homeownership growth strategies at Wells Fargo Home Lending.

Commercial Observer, Sept. 4, 2018–Matt GrossmanLenders of all types give construction loans close scrutiny before they approve a loan.