Mortgage Daily, Jan. 8, 2018The offering is for mortgage servicing rights on 12,115 Fannie Mae and Freddie Mac single-family loans that had an aggregate unpaid principal balance of $3.005 billion as of Nov. 30.
Category: Top National News
Industry Memorializes CFPB’s Laurie Maggiano on Social Media
HousingWire, Jan. 8, 2018–Caroline BasileDuring the weekend, the mortgage finance industry was saddened to learn the loss of Laurie Maggiano, an industry leader who served as the servicing and secondary markets program manager for the Consumer Financial Protection Bureau.
LoyaltyExpress Inks Deal to Acquire Lending Manager
HousingWire, Jan. 8, 2018–Ben LaneIn a release, the companies say that the combined company will service 115 lenders with more than 15,000 loan officers across all platforms.
Mortgage Firms Report Growing Originations
Mortgage Daily, Jan. 8, 2018–Sam GarciaWhile industry-wide annual mortgage originations are forecasted to retreat again, there are some lenders that are driving up loan volume.
Drop in Nonbank Mortgage jobs May Signal Market Shift Back to Banks
National Mortgage News, Jan. 5, 2018–Brian Collins (subscription)Recent market share gains by nonbank mortgage lenders have come primarily from refinance originations. But as refis decline and purchase mortgages remain muted by limited available housing inventory, depository mortgage lenders may be in a position to recapture market share.
Fed’s Harker: Two Rate Increases in 2018 Likely Appropriate
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.
Collateral Analytics Sues Nationstar for Allegely Stealing Trade Secrets
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.
Experts: 2018 Set to Be Best Economic Year Since Housing Crisis
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.
Wells Fargo’s 2017 Silver Lining Is a Drop in Consumer Complaints
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.
Wintrust Closes Deal with Veterans First Mortgage
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.