Category: Top National News

National Mortgage News, Jan. 12, 2018–Kate Berry (subscription)The Supreme Court agreed Friday to hear a case challenging the appointment of administrative law judges, which could affect an appeals court ruling on the constitutionality of the Consumer Financial Protection Bureau.

HousingWire, Jan. 12, 2018–Kelsey RamirezThe bank’s fourth quarter earnings show Wells Fargo paid a total of $3.25 billion in pre-tax expenses for litigation accruals on a variety of matters including mortgage-related regulatory investigations, sales practices and other consumer-related matters. A majority of this expense was not tax deductible.

Mortgage Daily, Jan. 12, 2018As new mortgage business recovered from a holiday slump, the share of activity that was for refinances reached the widest level in more than three years.

Mortgage Daily, Jan. 12, 2018Following months of waiting, mortgage brokers can now add PennyMac Financial Services Inc. to their roster of wholesalers. With its entry, the fast-growing lender is poised to become a big player in the wholesale channel.

Mortgage Daily, Jan. 15, 2018–Sam GarciaA major financial institution recently implemented a new loan origination system, while providers of competing LOS offerings have integrated other services into their systems.

Reverse Mortgage Daily, Jan. 15, 2018–Alex SpankoCount Carol Galante among the growing chorus of housing experts who believe the federally backed reverse mortgage program should be separate from the Federal Housing Administration’s other loans.

Wall Street Journal, Jan. 12, 2018–Justin Lahart (subscription)Janet Yellen can take a victory lap about inflation on her way out as Federal Reserve chairwoman. She has been saying the weakness in last year’s inflation readings was transitory, and she was right.

Washington Post, Jan. 11, 2018–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 3.99 percent with an average 0.5 point.

Associated Press, Jan. 11, 2018The bill’s sponsors–Sens. Elizabeth Warren, D-Mass., and Thom Tillis, R-N.C.–said Thursday the goal is to protect veterans, particularly those who purchase homes through a U.S. Department of Veteran’s Affairs home loan program.

Huffington Post, Jan. 11, 2018–Jack GuttentagOne intriguing approach has been suggested by Wayne Passmore and Alexander H. von Haften, economists at the Federal Reserve Board. Their central idea for encouraging more rapid equity growth is to trade off the borrower’s right to refinance when interest rates fall, which imposes a heavy cost on lenders, for larger principal payments.