Category: Top National News

American Banker, Aug. 24, 2018–John Heltman, Rachel Witkowski (subscription)Comptroller of the Currency Joseph Otting has been a vocal proponent of the need to overhaul the rules that the OCC–along with the Federal Reserve and Federal Deposit Insurance Corp.–use to implement the decades-old law, which requires banks to extend credit and services to low- and moderate-income customers in communities they serve.

Mortgage Daily, Aug. 24, 2018Mortgage Daily’s U.S. Mortgage Market Index for the week ended Aug. 24 fell 2 percent from the preceding week.

Washington Post, Aug. 23, 2018–Kathy OrtonMortgage rates haven’t done much lately, but they are at least moving in the right direction for home buyers. (MBA mention)

The Hill, Aug. 23, 2018–Sylvan LaneAll 13 Republicans on the Senate Banking Committee voted to recommend the confirmation of Kathleen Kraninger to lead the polarizing financial regulator for a five-year term, while all 12 Democrats opposed her. The Committee also approved Michael Bright as President of Ginnie Mae by voice vote.

National Mortgage News, Aug. 23, 2018–Bonnie Sinnock (subscription)Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.

HousingWire, Aug. 23, 2018–Jacob GaffneyThe war of words between Quicken Loans and United Wholesale Mortgage continues.

Mortgage Daily, Aug. 23, 2018As quarterly mortgage production moved higher at Homebridge Financial Services Inc., so did the company’s servicing portfolio.

Milwaukee Business Journal, Aug. 23, 2018–Sari LeskThe companies announced the move this week. Assured Mortgage has operated for nearly 30 years and has four offices that have written mortgages for more than 25,000 customers, according to a news release. Staff at Assured Mortgage will start to join the Bell Bank Mortgage team beginning in October.

HousingWire, Aug. 23, 2018–Ben LaneThe SEC took action against Equitybuild, Equitybuild Finance, and the company’s operators, the father and son team of Jerome and Shaun Cohen, for allegedly defrauding at least 900 investors by promising guaranteed returns on real estate investments.

Charlotte Observer, Aug. 23, 2018–Deon RobertsWells Fargo is laying off 101 employees in its Charlotte-area mortgage operation, part of a nationwide cut affecting 638 employees, the company said Thursday.