Category: Top National News

Wall Street Journal, Jan. 5, 2018–Michael S. Derby (subscription)Federal Reserve Bank of Philadelphia President Patrick Harker said Friday he is expecting the U.S. central bank to raise rates fewer times in 2018 than it did the year before, adding that officials have time to take stock of the economy before moving again.

HousingWire, Jan. 5, 2018–Ben LaneIn a lawsuit filed earlier this week in federal court, Collateral Analytics claims that Nationstar Mortgage stole the company’s proprietary property valuation technology, had a subsidiary replicate it, and is now trying to push Collateral Analytics aside to sell “knock-offs” of the company’s software to other market participants.

HousingWire, Jan. 5, 2018–Kelsey RamirezAlthough December’s job report numbers disappointed experts’ expectations, many explained that the end-of-year increase in construction jobs is just what the housing market needed.

Bloomberg, Jan. 5, 2018–Shahien NasiripourComplaints lodged against the lender with the Consumer Financial Protection Bureau through Dec. 15 dropped 18 percent from the same period of 2016, the steepest decline among major banks, federal figures show. Still, it remained first among that group in total complaints.

Chicago Daily Herald, Jan. 5, 2018Wintrust Mortgage also acquired servicing rights from Veterans First Mortgage on 8,300 loans, totaling an estimated $1.4 billion in principal balance.

Mortgage Daily, Jan. 5, 2018Shaun Hayes, the controlling shareholder of now shut-down Excel Bank in Missouri, admitted to deceiving officials about his interest in loans made by the bank and to mortgage fraud.

Mortgage Daily, Jan. 5, 2018As rising rates have driven down the share of borrowers seeking rate-term refinances to the lowest level in six months, rising home values have driven the share of borrowers seeking cashout loans to a record high.

Wall Street Journal, Jan. 7, 2018–Keiko Morris (subscription)Fast growth at technology advertising and media companies made tenants in those industries the darling of Manhattan’s office market in recent years, but in 2017 the spotlight shifted back to tenants that traditionally have been the bread and butter of the city’s office landlords.

National Mortgage News, Jan. 5, 2018–Bonnie Sinnock (subscription)Situs agreed Friday to buy mortgage servicing rights valuation and brokerage firm MountainView Financial Solutions in a deal set to close this month.

HousingWire, Jan. 5, 2018–Ben LaneThe Trump administration is appears to be set to appoint Kirsten Sutton Mork, who currently serves as the House Financial Services Committee’s staff director, to chief of staff of the Consumer Finanicial Protection Bureau.