Category: Top National News

Wall Street Journal, Dec. 14, 2017–Emily Glazer (subscription)Wells Fargo & Co. laid off about 60 employees in its mortgage division as the bank continues to reshuffle parts of its business following heightened regulatory scrutiny.

Wall Street Journal, Dec. 13, 2017–Josh Mitchell (subscription)The number of Americans severely behind on payments on federal student loans reached roughly 4.6 million in the third quarter, a doubling from four years ago, despite a historically long stretch of U.S. job creation and steady economic growth.

HousingWire, Dec. 13, 2017–Ben LaneAccording to the state, the entity is ending unsolicited emails to residents, offering them loans. The emails originate from the email address: “impacmortgagecorp@gmail.com,” and the scammer is using the name of Impac’s CEO, Joseph Tomkinson.

Mortgage Daily, Dec. 13, 2017–Sam GarciaColumbia, South Carolina-based Homeowners Mortgage has been acquired by Towne Mortgage Co., a press release last month stated. Homeowners will add around $0.24 billion to Towne’s $1 billion in annual originations.

Los Angeles Times, Dec. 12, 2017–Jim Puzzanghera Westfield Corp., operator of upscale shopping malls in Los Angeles and dozens of other U.S. locations, is being sold to French commercial real estate giant Unibail-Rodamco in a $16 billion deal, the two companies announced Tuesday.

Mortgage News Daily, Dec. 12, 2017–Jann SwansonMBA’s Builder Applications Survey, conducted among mortgage subsidiaries of home construction companies, indicates that sales during the month were down 6 percent from October, but were a healthy 12.2 percent higher than in November 2016.

Scotsman Guide, Dec. 12, 2017–Victor WhitmanCommercial mortgage debt rose across all major investor classes to $3.11 trillion in the third quarter, the Mortgage Bankers Association reported.

Associated Press, Dec. 12, 2017Congressional aides say negotiators have agreed to scale back the mortgage interest deduction, which would allow homeowners to deduct interest on the first $750,000 of a new mortgage.

HousingWire, Dec. 12, 2017–David StevensMBA President and CEO outlines the Association’s strategy for comprehensive secondary mortgage market reform.

Wall Street Journal, Dec. 12, 2017–Nicole Friedman (subscription)Insurers and reinsurers are already on track for one of the largest ever industrywide losses from natural catastrophes.