CQ News, Jan. 30, 2018–Doug Sword (subscription)Treasury Secretary Steven Mnuchin endorsed easing financial regulation for banks with less than $250 billion in assets and overhauling the nation’s housing finance system during testimony Tuesday before the Senate Banking Committee.
Category: Top National News
Getting Your Own Place? Buying Is Now Outpacing Renting in U.S.
Bloomberg, Jan. 30, 2018–Matthew BoeslerFollowing a surge in the number of Americans forming households as renters over the past decade in lieu of homeownership, the tide is starting to turn in the other direction.
Nationstar Settles Alleged MA Servicing Abuses
Mortgage Daily, Jan. 30, 2018Allegations of unfair servicing and foreclosure practices in Massachusetts have been resolved by Nationstar Mortgage LLC through a multi-million-dollar settlement.
JPMorgan Chase Shakes Up Senior Leadership, Dimon Staying Five More Years
HousingWire, Jan. 30, 2018–Caroline BasileDaniel Pinto and Gordon Smith have been appointed co-presidents and co-chief operating officers of JPMorgan Chase.
Frustrated by Losing Bidding Wars, House Hunter Starts His Own Mortgage Firm
Washington Post, Jan. 30, 2018–Michele LernerAfter losing multiple bidding wars as a first-time home buyer, Vishal Garg decided to start Better Mortgage, an online-only direct lender, to streamline the home financing process.
Mortgage Banking Group Seeks to Weed Out Sexual Harassment
National Mortgage News, Jan. 29, 2018–Bonnie Sinnock (subscription)The Mortgage Bankers Association’s professional development group for women examined how widespread and underreported the problem is by sending a survey to 2,000 members.
Is the Mortgage Forgiveness and Debt Relief Act Coming Back?
The Mortgage Reports, Jan, 29, 2018–Peter G. MillerThe Mortgage Relief and Debt Act is not in the news, and that’s a crime. Probably it seems odd that after more than a decade, we’re still picking and pulling over the mortgage meltdown.
How Lenders are Reducing Compensation Costs Without Hurting Sales
National Mortgage News, Jan. 29, 2018–Bonnie Sinnock (subscription)The seasonally weak first quarter is here, adding to the extraordinary number of cost challenges facing mortgage lenders following a year of lower volumes and higher rates.
Wells Fargo Picks Michael DeVito to Lead Home Lending Efforts
HousingWire, Jan. 29, 2018–Ben LaneDeVito took over as head of mortgage production at Wells Fargo in 2015, after previously leading the bank’s mortgage servicing operation.
Gender Power Shift Ahead for Mortgage Industry?
Mortgage Daily, Jan. 29, 2018From Hollywood to Washington, allegations of sexual harassment and inappropriate behavior have become some of the biggest headlines since last year. According to a Mortgage Bankers Association survey, 75 percent of respondents had experienced at least one work-related sexual harassment incident as defined by the Equal Employment Opportunity Commission.