Politico, Aug. 10, 2018–Lorraine Woellert, Katy O’DonnellTimothy Mayopoulos had recused himself broadly from any business between Fannie Mae and the company, TransUnion, where his romantic partner, Heather Russell, serves as chief legal officer. But the watchdog faulted Mayopoulos–and Fannie Mae–for not flagging a possible conflict involving a credit-scoring project that could benefit TransUnion.
Category: Top National News
U.S. Inflation Pressures Rise in July; Fed on Track to Lift Rates
Reuters, Aug. 10, 2018–Lindsay DunsmuirU.S. consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures that keeps the Federal Reserve on track to gradually raise interest rates.
Mortgage Rates Dip After a Weak Jobs Report
Washington Post, Aug. 9, 2018–Kathy OrtonMortgage rates retreated this week after weaker-than-expected employment data. The Mortgage Bankers Association reported mortgage applications fell.
Mortgage Applications Rise for New Homes
Scotsman Guide, Aug. 9, 2018–Victor WhitmanMortgage applications for new-home purchases rose through the month of July and were running ahead of the pace of last year, the Mortgage Bankers Association reported.
Ditech Lost $40.5M in First Full Period after Bankruptcy
National Mortgage News, Aug. 9, 2018–Brad Finkelstein (subscription)”Our second-quarter performance did not meet our expectations, and we are continuing to take actions that we believe will help the company return to sustained profitability,” said Tom Marano, who assumed the CEO and president roles after Ditech exited Chapter 11.
Fannie Mae Warns of Raft of Fake Employers Being Used on Borrowers’ Mortgages
HousingWire, Aug. 9, 2018–Ben LaneThe government-sponsored enterprise issued a new warning this week, identifying 10 new purported employers that do not seem to actually exist.
Who’s on First? The Confusing State of Federal Fintech Regulation
American Banker, Aug. 9, 2018–Rachel Witkowski (subscription)Federal agencies have recently rolled out a series of efforts aimed at collaborating more on fintech regulation, but one key question remains: who is taking the lead?
Biggest Players in Real Estate Appraisals
Mortgage Daily, Aug. 9, 2018During the past five years, the nation’s real estate appraisal market has been on a declining trend. Behind the trend are increased regulations.
Mortgage Originations Up at Finance of America
Mortgage Daily, Aug. 9, 2018New quarterly mortgage business was better at Finance of America Holdings LLC. But the size of the company’s servicing portfolio and staff was down.
Luxury Housing Market Continues to Sizzle
National Mortgaage Professional, Aug. 9, 2018–Phil HallLuxury home sales recorded double-digit annualized gains in 19 markets during July as the number of sales at or above the $1 million mark spiked by 13 percent from one year ago.