Category: Top National News

Mortgage Daily, Mar. 8, 2018A delinquent borrower has paid for a billboard in Wilmington, North Carolina, in his effort to avoid a foreclosure on his delinquent loan with SunTrust Mortgage Inc.

Bloomberg, Mar. 8, 2018–Tiffany KaryLehman Brothers Holdings Inc.’s bankruptcy estate will pay $2.38 billion to compensate for its role in the previous decade’s mortgage crisis, a federal judge decided, far less than the $11.4 billion some hedge funds had sought.

National Mortgage News, Mar. 8, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau’s final rule gives mortgage servicers a temporary exemption, for a single statement period, from certain timing requirements in sending periodic statements to borrowers entering and exiting bankruptcy. The rule is a technical revision to the CFPB’s 2016 mortgage servicing rule.

Bloomberg, Mar. 8, 2018–Lauren Coleman-Lochner, Matthew Townsend, Eliza Ronalds-HannonToys “R” Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders.

MReport, Mar. 8, 2018–David WhartonHUD Secretary Ben Carson fired back against accusations that proposed changes to the HUD mission statement represented a rolling back of the agency’s commitment to fair housing practices.

Reuters, Mar. 8, 2018–Lucia MutikaniU.S. economic growth for the fourth quarter is likely to be revised higher after data on Thursday indicated more spending on services than previously estimated by the government.

CNBC, Mar. 7, 2018–Diana OlickThe start of the spring housing market has yet to energize the mortgage market, the latest numbers from the Mortgage Bankers Association show.

Huffington Post, Mar. 7, 2018–Angie Terkel Housing and Urban Development Secretary Ben Carson is changing the mission statement of his agency, removing promises of inclusive and discrimination-free communities.

Bloomberg, Mar. 7, 2018–Erik Larson, Greg FarrellRoyal Bank of Scotland Group Plc agreed to pay $500 million to settle New York’s probe into its marketing of toxic mortgage-backed securities that triggered the financial crisis, moving the government-owned lender a step closer to resolving a series of costly U.S. investigations.

Wall Street Journal, Mar. 7, 2018–Laura Kusisto (subscription)The culprits: rising mortgage rates, a tax bill that reduces the incentives for homeownership and a growing weariness among first-buyers being priced out of the market-all of which are expected to damp demand for homes this year.