National Mortgage News, Oct. 10, 2017–Kate Berry (subscription)Fannie Mae and Freddie Mac were not impacted by a hacking incident in September against the accounting giant Deloitte, the companies said Tuesday, after a British newspaper alleged a server containing emails from government agencies was compromised.
Category: Top National News
Quicken Loans: Home Prices Increase, But Still Not at Homeowner Expectations
HousingWire, Oct. 10, 2017–Kelsey RamirezHome prices continued to rise in September, however not fast enough to keep up with homeowners’ expectations, according to Quicken Loans National Home Price Perception Index.
In Aftermath of Hurricanes, FEMA’s Slow Flood Mapping Leaves Homeowners Vulnerable
The Hill, Oct. 9, 2017–Alison SpannThe Federal Emergency Management Agency has delayed decisions on flood zone determinations–in some cases by two years or more–and currently has more than 240 mapping projects on hold, the department’s inspector general warned in a report dated Sept. 27.
Lead Management Lacking in Many LOS Systems
Mortgage Daily, Oct. 9, 2017–Sam GarciaThe STRATMOR 2016 LOS Technology Insight Survey said that less than a quarter of the more than 250 lenders surveyed indicated compliance tools in their LOS were highly effective and gave them a competitive advantage.
Mortgage Fraud is on the Rise, And Here’s What that Means to You
Miami Herald, Oct. 9, 2017–Kenneth R. HarneyFraud in connection with home mortgages is on the rise, ranging from little white lies about the intended use of the property all the way up to much more sophisticated schemes.
Treasury Report Calls for Extensive Regulatory Relief for Finance Industry
HousingWire, Oct. 9, 2017–Kelsey RamirezThe Treasury released its second of four reports Friday which called for sweeping financial reform, including changes that would weaken the Dodd-Frank Act.
Former Reverse Mortgage Giant Sold
Mortgage Daily, Oct. 9, 2017An agreement has been reached to sell Financial Freedom to an undisclosed buyer, parent CIT Bank said.
Bank Earnings: ‘Lower for Longer’ Means Buybacks Will Continue
MarketWatch, Oct. 6, 2017–Andrea RiquierWhen big banks kick off the third-quarter earnings season next week, a familiar theme is likely to dominate: it’s hard to make money in a lower-for-longer world. Mortgage originations will be down for all the banks, according to data from the Mortgage Bankers Association.
Manhattan Office Leasing Jumps on Financial-Sector Hiring
Wall Street Journal, Oct. 8, 2017–Keiko Morris (subscription)Manhattan office leasing kicked into high gear in the third quarter as financial services jobs surpassed prerecession levels in August, but new construction kept rental increases low, according to new statistics released by real estate services firm JLL.
Trump Administration Calls for Scrapping CEO Pay Rule
Wall Street Journal, Oct. 6, 2017–Andrew Ackerman, Gabriel T. Rubin (subscription)The Trump administration wants to do away with signature markets regulations of the financial crisis era, including a requirement that companies show how much CEOs are paid compared with average workers.