Category: Top National News

Wall Street Journal, Jan. 17, 2018–Emily Glazer (subscription)Wells Fargo & Co.’s Chief Risk Officer Michael Loughlin is retiring as the bank continues to face heightened regulatory scrutiny, especially over its risk-management practices.

National Mortgage News, Jan. 17, 2018–Kate Berry (susbcription)The Consumer Financial Protection Bureau said it plans to publish a series of requests for information in the Federal Register in the coming weeks asking for the public to weigh in on the agency’s enforcement, supervision, rulemaking, market monitoring and education activities.

Mortgage Daily, Jan. 17, 2018Home lenders have continued to loosen their standards compared to a year ago as turnaround has improved over the period. Refinance share was the widest it’s been 10 months, Ellie Mae reported.

Associated Press, Jan. 17, 2018Goldman Sachs posted a $1.93 billion loss in the fourth quarter as the investment bank had to record more than $4 billion in charges related to the new tax law. It was the bank’s first quarterly loss in more than six years.

USA Today, Jan. 17, 2018–Adam ShellBank of America, boosted by a 9% rise in its consumer loan business, reported fourth-quarter earnings that topped analyst expectations despite a nearly $3 billion one-time charge related to the newly signed tax law.

Mortgage Daily, Jan. 17, 2018Home lending inched up from the previous quarter at U.S. Bancorp, as did the size of its servicing portfolio.

Bloomberg, Jan. 18, 2018–Matthew LeisingA group of big financial institutions wants to use blockchain to help resurrect the packaging of home mortgages into securities, a business that almost destroyed the global banking system in 2008.

Detroit Free Press, Jan. 18, 2018–John GallagherA long-running Department of Justice lawsuit against Quicken Loans comes up for a hearing Thursday afternoon before U.S. District Judge Mark Goldsmith in federal court in Detroit. And Dan Gilbert isn’t giving an inch.

National Mortgage News, Jan. 17, 2018–Ian McKendry (subscription)Mark Calabria, Vice President Mike Pence’s chief economist, struck a bearish tone Wednesday on the prospects for a financial regulatory relief bill, saying that it may need to wait in line behind other policy initiatives.

Bloomberg, Jan. 17, 2018–Joe LightFederal Housing Finance Agency Director Mel Watt wrote that he and agency staff believe the mortgage market should be supported by shareholder-owned utilities with regulated rates of return and an explicit government guarantee of mortgage bonds.