Category: Top National News

Reuters, Nov. 3, 2017–Dan FreedWells Fargo & Co. disclosed in a regulatory filing on Friday it is facing litigation over previously disclosed sales problems related to its auto and mortgage businesses.

HousingWire, Nov. 3, 2017–Ben LaneFour Equifax executives were not aware of the massive data breach at the credit reporting agency when they sold off more than $1.5 million in company stock before the breach became public knowledge, the company said Friday.

National Mortgage Professional, Nov. 3, 2017–Phil HallThe housing and mortgage industry has seen the House Republicans’ tax reform plan, and no one is popping champagne bottles-although some aspirin or antacid bottles might be opened. David Stevens, President and CEO of the Mortgage Bankers Association, questioned the mortgage-related aspects of the bill.

UExpress, Nov. 3, 2017–Lew SichelmanWould you buy a mortgage from Kevin Costner? This isn’t quite a rhetorical question. The Academy Award-winning actor and director is the lead investor in a new venture in the mortgage space called Lender Price.

National Mortgage News, Nov. 3, 2017–Brad Finkelstein, Elina Tarkazikis (subscription)If industry participants came to the 2017 Mortgage Bankers Association’s annual convention seeking clarity and direction, they left with firm guidance in some areas, but ambiguity remained in others.

Wall Street Journal, Nov. 5, 2017–Nick Timiraos, Michael S. Derby (subscription)Federal Reserve Bank of New York President William Dudley is set to announce he will retire next year, around six months earlier than scheduled, and the announcement could come as soon as Monday.

National Mortgage News, Nov. 3, 2017–Brian Collins (subscription)When the Consumer Financial Protection Bureau finalized its mortgage underwriting rule in 2013, it granted government-backed loans an exemption. Years later, the government-backed market appears to be enjoying the benefits, sparking a debate about whether the exemption should remain.

HousingWire, Nov. 3, 2017–Ben LanePresident Donald Trump and other top Republicans may be debating the future of Consumer Financial Protection Bureau Director Richard Cordray, but one thing they won’t be able to hold over Cordray’s head is a violation of federal election laws.

New York Times, Nov. 4, 2017–Mary Williams WalshThe government-run National Flood Insurance Program is, for now, virtually the only source of flood insurance for more than five million households in the United States. This hurricane season, as tens of thousands of Americans seek compensation for storm-inflicted water damage, they face a problem: The flood insurance program is broke and broken.

Washington Post, Nov. 3, 2017–Jena McGregorFederal Reserve Chair Janet L. Yellen earned widespread approval for her term at the helm of the U.S. central bank, a singularly powerful job in the global economy. It wasn’t enough for her to keep her job.