Mortgage Daily, Apr. 20, 2018SunTrust said that it has become aware of the potential theft of client information. The culprit: a former employee.
Category: Top National News
Going and Coming
UExpress, Apr. 20, 2018–Lew SichelmanSo you’ve sold your house and are about to move into a new one. Other than the physical move itself, you think you’re about done with the process. Well, think again. You still have plenty to do.
Mortgage Rates Climb to High Not Seen in Four Years
Washington Post, Apr. 19, 2018–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.47 percent with an average 0.5 point. (MBA mention)
Fed’s Quarles: 30-Year Fixed-Rate Mortgage ‘Probably’ Doesn’t Need Government Backstop
MarketWatch, Apr. 19, 2018–Greg RobbAt a Senate Banking Committee hearing, Fed Vice Chairman for Supervision Randal Quarles was asked by Sen. Heidi Heitkamp, Democrat for North Dakota, whether a government guarantee was “essential” for “retaining” the 30-year mortgage instruments. Quarles replied: “My belief today is probably not.”
KeyBank Has High Hopes for Mortgage Business
The Buffalo News, Apr. 19, 2018–Matt GlynnKeyBank is ready to capitalize on the residential mortgage business it picked up from First Niagara Bank, but determined the insurance business it acquired in the same deal wasn’t a good fit.
Longtime Ocwen Financial CEO Ron Faris to Step Down
National Mortgage News, Apr. 19, 2018–Bonnie Sinnock (subscription)Ron Faris plans to retire as head of Ocwen Financial and pass on his position to former PHH Corp. CEO Glen Messina around the time Ocwen acquires PHH.
Lennar Names New CEO for First Time in 21 Years
HousingWire, Apr. 19, 2018–Ben LaneCEO Stuart Miller will become the company’s executive chairman. In that role, Miller will be “actively involved in all aspects of the Company’s operations and continue to set the strategic direction for Lennar,” the company said. Replacing Miller as CEO will be Rick Beckwitt, who has been the company’s president since 2011.
To Make Cybersecurity More Effective, Treat It Like Compliance
National Mortgage News, Apr. 19, 2018–Elina Tarkazikis (subscription)Mortgage companies should model cybersecurity protocols after their compliance strategies to avoid being underprepared in the event of a data breach, said panelists at the recent Mortgage Bankers Association Technology Solutions Conference.
It’s a Whole New Ballgame: Takeaways from MBA Tech
HousingWire, Apr. 19, 2018–Michael KolbrenerIt was fitting that the Mortgage Bankers Association chose Detroit, the launch pad of Rocket Mortgage, as the site for this year’s Technology Solutions Conference & Expo. The “liftoff” of that disruptive, imagination-capturing product has been the catalyst for a new appreciation of what technology can do for lenders and borrowers.
Why Do Underwater Homeowners Keep Paying their Mortgage?
MarketWatch, Apr. 19, 2018–Andrea RiquierA survey published by the New York Fed this week sheds some light on how homeowners think about their mortgage payments when they’re underwater–or at least how they say they think about it.