Category: Top National News

Mortgage News Daily, June 25, 2018–Jann SwansonBoth the Mortgage Bankers Association’s first quarter Quarterly Mortgage Bankers Performance Report and an earlier release from Fannie Mae regarding results from its second quarter Mortgage Lender Sentiment Survey reported mortgage lender’s declining profits and gloomy outlook for improved financial results.

Wall Street Journal, June 25, 2018–Katie Honan (subscription)Thousands of city-owned apartments will be renovated by private investors through a federally administered program that has repaired scores of publicly owned residences nationwide, New York City Mayor Bill de Blasio announced Monday.

HousingWire, June 25, 2018–Kelsey RamirezOn Thursday, President Donald Trump released a massive proposal that, among other things, would end the government conservatorship of Fannie Mae and Freddie Mac, but now it looks as though that won’t be happening anytime soon.

HousingWire, June 25, 2018–Ben LaneOcwen announced Monday that as “part of its ongoing efforts to reduce costs,” the company is electing not to renew its contract with Fitch for “various corporate ratings.” Ocwen also announced Monday that John Britti, the company’s executive vice president and chief investment officer, has been named interim CEO.

National Mortgage News, June 25, 2018–Bonnie Sinnock (subscription)Credit reporting firms with significant operations in New York will face new cybersecurity and registration requirements to stave off concerns related to a breach of Equifax’s systems last year.

National Mortgage News, June 22, 2018–Elina Tarkazikis (subscription)The share of consumers confident that it wouldn’t be difficult to obtain a mortgage in the current market shot up 10% from a quarter ago, according to a new survey.

HousingWire, June 22, 2018–Kelsey RamirezWhile there are several women in high-level positions at HUD and in other areas of the housing industry, Patenaude said the industry still needs more women, saying, “I think women are still really under-represented in the field.”

Bloomberg, June 22, 2018–Matt Levine (subscription)The author noted the Securities and Exchange Commission brings a lot of enforcement actions against a lot of people in its own internal courts. And for the past few years many of the people caught up in it-the people accused by the SEC of doing bad stuff-have complained that it is illegitimate.

The Hill, June 23, 2018–Sylvan LaneConsumer Financial Protection Bureau acting Director Mick Mulvaney is going to bat for his potential successor, and in doing so he’s poised to extend his influence at the watchdog agency. Mulvaney, who doubles as head of the White House Office of Management and Budget, has emerged as a key proponent of Kathy Kraninger, President Trump’s pick to be the CFPB’s full-time director.

Mortgage Daily, June 22, 2018A nationwide round of layoffs by Wells Fargo Home Mortgage will impact 400 employees.