Category: Top National News

Mortgage Professional America, Oct. 16, 2017–Francis MonfortMortgage applications for new-home purchases recorded a year-over-year decline in September, reflecting the effects of the recent hurricanes, according to the Builder Applications Survey released by the Mortgage Bankers Association.

Scotsman Guide, Oct. 16, 2017–Victor WhitmanThe Trump administration appears committed to significantly unwinding many of the rules imposed on banks and Wall Street after the recession. Earlier this month, the U.S. Treasury published its second major report on Dodd-Frank, this time making a number of recommendations to loosen rules on Wall Street.

National Mortgage News, Oct. 16, 2017–Bonnie Sinnock (subscription)Marketplace lending is, in many respects, an evolution of the privately funded mortgage market, which has co-existed with mainstream lenders without posing much threat for years.

HousingWire, Oct. 16, 2017–Brena SwansonThe Financial Industry Regulatory Authority ordered Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network to pay more than $3.4 million in restitution to affected customers over faulty sales practices.

Bloomberg, Oct. 16, 2017–David Kocieniewski, Caleb MelbyAn ambitious plan by Jared Kushner’s family to recast its indebted Fifth Avenue office building as a luxury architectural trophy is collapsing, setting off a chain of events that may imperil the Kushners’ ownership of a property central to their real estate empire.

Mortgage Orb, Oct. 16, 2017–Patrick BarnardWith legacy foreclosures dwindling and delinquencies now near pre-crisis lows, it would make sense if foreclosure timelines were shortening, but apparently that’s not the case, according to the most recent quarterly foreclosure report from ATTOM Data Solutions.

Mortgage Daily, Oct. 16, 2017The San Francisco-based organization said in its third-quarter earnings report that income before the provision for income taxes was $242 million in the three months ended Sept. 30.

Mortgage Daily, Oct. 16, 2017The Office of the State Bank Commissioner of Kansas on Friday seized control of The Farmers and Merchants State Bank of Argonia and shut it down.

CNBC, Oct. 16, 2017–Lori KonishFannie Mae, Freddie Mac and the Internal Revenue Service separately issued guidance on Friday for those affected by the blazes that began a week ago.

HousingWire, Oct. 16, 2017–Kelsey RamirezHere’s what some of the top mortgage lenders say were the main drivers of their growth, and what they will be focusing on going forward.