Wall Street Journal, Mar. 28, 2018–Josh Barbanel (subscription)Sales of Manhattan apartments slowed during the first quarter to the slowest pace in five years, according to an analysis by The Wall Street Journal.
Category: Top National News
Apathy, Blind Spots and Fixes: Insights on Workplace Harassment
National Mortgage News, Mar. 28, 2018–Chelsey Emery, Bonnie McGeer, Dana Jackson (subscription)While the #MeToo movement has prompted important discussions about workplace equality, a SourceMedia study shows sexual harassment continues to be an issue in many industries.
Equifax Names New CEO as Fallout from Data Breach Continues
HousingWire, Mar. 28, 2018–Ben LaneEquifax announced Wednesday that it is naming Mark Begor as its next CEO. Begor will take over at the company on April 16, replacing Paulino do Rego Barros, who took over as interim CEO when Richard Smith retired in the immediate aftermath of the company’s disclosure of the breach.
Under Ben Carson, HUD Scales Back Fair Housing Enforcement
New York Times, Mar. 28, 2018–Glenn ThrushThe Trump administration is attempting to scale back federal efforts to enforce fair housing laws, freezing enforcement actions against local governments and businesses, including Facebook, while sidelining officials who have aggressively pursued civil rights cases.
PA Mortgage Servicers to Start License Applications
Mortgage Daily, Mar. 28, 2018Residential loan servicers will soon be able to apply for licenses in the Keystone State as required by legislation that became law late last year.
Freddie Mac Eases Underwriting Requirements
Mortgage Daily, Mar. 28, 2018Improvements to lending guidelines at Freddie Mac include expanded loan-to-value ratios and more flexible condominium requirements.
U.S. Subprime Mortgage Bonds Back in Fashion
Financial Times, Mar. 29, 2018–Ben McLannahan, Joe Rennison (subscription)Home loans to people with scratches and dents in their credit histories dwindled to almost nothing in the aftermath of the crisis, as litigation-weary lenders retreated to patch up their balance sheets. But over the past couple of years a group of specialist firms has begun to bring the loans back, navigating a dense web of new rules drawn up to protect borrowers and investors.
Lender Consolidation Looms as Liquidity Dries Up
National Mortgage News, Mar. 28, 2018–Brad Finkelstein (subscription)Mortgage banking is a cash-negative business and one of the few ways to make money for many companies is by selling whole loans along with the associated servicing rights to an aggregator, Stan Middleman, the president and CEO of Freedom Mortgage, said during a panel presentation at the Regional Conference of Mortgage Bankers Associations in Atlantic City, N.J.
Risks of Lax Underwriting Far Outweigh the Rewards, MBA Chief Warns
National Mortgage News, Mar. 28, 2018–Brad Finkelstein (subscription)Lenders should not get so desperate chasing volume by originating lower credit non-qualified mortgage products that they are inviting the next regulatory crackdown, said David Stevens, the Mortgage Bankers Association’s CEO.
Radian Buys Direct-to-Consumer Insurer Entitle Direct
HousingWire, Mar. 28, 2018–Ben LaneRadian is making another change in its services business by acquiring Entitle Direct Group, a title insurance and settlement services company that specializes in selling title insurance directly to consumers.