Category: Top National News

Los Angeles Times, Aug. 3, 2018–David LazarusAmericans for Financial Reform and the Center for Responsible Lending Tuesday released results from a survey results showing that an overwhelming majority of Americans–at least 80 percent–are concerned about the Trump administration’s recent efforts to curb oversight of banks and payday lenders, and the possible shutdown of a database of  consumer complaints.

HousingWire, Aug. 2, 2018–Ben LaneThe bank’s parent company, Citizens Financial Group, announced this week that the bank’s deal to acquire “certain net assets” of Franklin American Mortgage is finalized. The deal was originally announced back in May.

CNBC, Aug. 1, 2018–Diana OlickTotal mortgage application volume slipped 2.5 percent from the previous week and 12 percent from a year ago, according to the Mortgage Bankers Association’s seasonally adjusted report.

HousingWire, Aug. 1, 2018Mordi was the mortgage industry’s lead tax policy expert during a once-in-a-generation tax reform after the financial meltdown in 2007. She spearheaded a large effort across the industry to review the large, fast-changing legislation to ensure real estate finance came out ahead. Without her leadership, the industry would be in a decidedly worse place.

National Mortgage News, Aug. 1, 2018–Brad Finkelstein (subscription)Arch MI U.S. returned to having the No. 1 market share among private mortgage insurers as it increased its new insurance written 15% over the previous year.

Reuters, Aug. 1, 2018–Lucia MutikaniU.S. manufacturing activity slowed in July amid signs that a robust economy and import tariffs were putting pressure on the supply chain, which could hurt production in the long term.

Mortgage Daily, Aug. 1, 2018More than two years after revealing a government investigation into how it handled sales of subprime residential mortgage-backed securities, Wells Fargo & Co. has agreed to a more than $2 billion settlement.

Mortgage Daily, Aug. 2, 2018The previously announced acquisition of Nationstar Mortgage Holdings Inc. by the former parent of failed Washington Mutual Bank is now complete.

National Mortgage News, Aug. 1, 2018–Kristin Broughton (subscription)The beleaguered bank’s $2.09 billion settlement stemmed from crisis-era mortgage problems, rather than revelations of new issues at Wells that could have sparked a regulatory backlash or probe that might cause headaches for other banks.

American Banker, Aug. 1, 2018–Neil Haggerty (subscription)The Senate Banking Committee is postponing its vote on Kathy Kraninger’s nomination to be the director of the Consumer Financial Protection Bureau as the Senate moved to adjourn for a short recess on Wednesday.