HousingWire, Oct. 4, 2017–Ben LaneOcwen announced the Securities and Exchange Commission concluded two different examinations of the nonbank’s business, and said that the agency will not be seeking enforcement actions in either matter.
Category: Top National News
Hurricanes Hit U.S. Hiring in September; Services Sector Resilient
Reuters, Oct. 4, 2017–Richard LeongU.S. companies scaled back their hiring to an 11-month low in September after two powerful hurricanes disrupted some business activities, while the vast domestic services sector overcame those snags to expand at its fastest pace in 12 years.
Investors Look for Bargains in Undervalued Markets
National Real Estate Investor, Oct. 4, 2017–Beth Mattson-TeigProperty values have surged steadily higher in the prolonged recovery. But that high tide isn’t raising all boats as some metros are still falling short of 2007 pricing.
MSRs Being Auctioned on Over $300 Mil in GSE Loans
Mortgage Daily, Oct. 4, 2017MSRs on 1,415 Fannie Mae and Freddie Mac home loans with an aggregate unpaid principal balance of $339 million have been put up for auction. California properties secure 52 percent of the loans in the offering.
Over $800 Million in Freddie Mac Loans Sold
Mortgage Daily, Oct. 4, 2017Freddie Mac disclosed Wednesday that it sold 3,514 single-family loans with a collective unpaid principal balance of $817 million through a seasoned loan structured transaction.
This Lender Will Now Help Mortgage Borrowers Crowdfund their Down Payment
MarketWatch, Oct. 5, 2017–Jacob PassyPrivately held mortgage banking firm CMG Financial has launched HomeFundMe–a pilot crowdfunding service that’s the first to receive approval from Fannie Mae and Freddie Mac.
CFPB Gives More Time to Reach Troubled Borrowers in Servicer Rule Revision
National Mortgage News, Oct. 4, 2017–Kate Berry (subcription)In an interim rule, the Consumer Financial Protection Bureau said Wednesday that it would give mortgage servicers more time to send early intervention notices to distressed borrowers who have asked not to be contacted about collection of their debts.
Waters’ Bill Gives Power to Fed to Shut Down Megabanks
HousingWire, Oct. 4, 2017–Kelsey RamirezRanking Member of the House Committee on Financial Services Maxine Waters, D-Calif., introduced The Megabank Accountability and Consequences Act Wednesday in a press conference.
Economic Consensus Masks Many Uncertainties
Commercial Property Executive, Oct. 4, 2017–Paul FiorillaWhile economists foresee little chance of a recession in the near term, potential policy changes could affect the U.S. economy and commercial real estate values.
Homebuyers Rush to Riskier Mortgages as Home Prices Heat Up
CNBC, Oct. 3, 2017–Diana OlickHome prices are heating up yet again, and that is sending more potential buyers looking for ways to afford a monthly mortgage payment.