Mortgage Daily, Dec. 19, 2017Fannie Mae has made changes to its policies on frozen credit reports, premium pricing and Texas home-equity loans.
Category: Top National News
Wells Fargo Names New Consumer Chief
Charlotte Observer, Dec. 19, 2017–Rick RothackerWells Fargo & Co. said Monday that Charlotte, North Carolina-based executive Mary Mack will become its new head of consumer lending, adding to her duties as head of community banking.
Mortgage Lending Services Will Change Name in New Year
HousingWire, Dec. 20, 2017–Jacob GaffneyMortgage Lending Services will change its name to TruStone Home Mortgage, beginning in the new year. This new name will better reflect its relationship to parent company, TruStone Financial Federal Credit Union.
House Passes Bill to Revamp Criteria for ‘Systemically Important’ Banks
Wall Street Journal, Dec. 19, 2017–Andrew Ackerman (subscription)Regulators would have more discretion to decide which banks to target for stricter oversight under bipartisan legislation that House lawmakers approved Tuesday, the latest front in a broad push to ease postcrisis regulations.
CFPB’s Mulvaney Scraps Survey for Debt Collection Plan
National Mortgage News, Dec. 19, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau on Tuesday withdrew a plan to conduct a web survey for its debt collection proposal while acting Director Mick Mulvaney reviews the rulemaking.
Bank of America: Affordable Housing Funding Will Grow Tight in 2018
HousingWire, Dec. 19, 2017–Kelsey RamirezAffordable housing remains a major concern going into 2018 as home prices rise and housing inventory decreases, says Bank of America’s Maria Barry.
Serious 2nd Mortgage Delinquency Soars
Mortgage Daily, Dec. 19, 2017The Composite Consumer Credit Default Index indicated that delinquency of at least 90 days on automobile loans, bank cards and mortgages fell to 0.89 percent in November.
Lone Star Shifts Tougher REOs to Residential Capital; Launches Rental Strategy
DebtWire, Dec. 18, 2017–Al YoonLone Star Funds is turning to residential rentals as it grapples with the dregs of more than USD 30bn in delinquent loans purchased over the past several years.
2018 Mortgage Loan Limits–With Charts
OurBroker.com, Dec. 18, 2017–Peter G. MillerMortgage loan limits are up for 2018 because real estate values nationwide have generally been rising.
RoundPoint Introduces Retail Mortgage Lending Division
DS News, Dec. 18, 2017–Rachel WilliamsThe new mortgage lending division, which employs 174 people, was initially launched to neutralize RPMS’s portfolio run-off. The next phase for the operation is to expand to purchase market opportunities.