New York Times, Sept. 8, 2017In an editorial, the NYT says weakening the regulation of institutions that are not banks would weaken a regulatory process that is already too restrained.
Category: Top National News
Employees of Fintech Firm SoFi Allege Women Are Treated Improperly
Wall Street Journal, Sept. 10, 2017–Peter Rudegeiar (subscription)Social Finance Inc., a fintech company whose hard-charging ethos propelled it to success, is ensnared in the controversy over workplace culture and the treatment of women at Silicon Valley technology startups.
Equifax Breach May Kill Repeal of CFPB Mandatory Arbitration Rule
National Mortgage News, Sept. 8, 2017–Ian McKendry (subscription)The massive breach at Equifax is likely to hurt–and may ultimately doom–efforts by Republicans to overturn the Consumer Financial Protection Bureau’s rule banning mandatory arbitration clauses.
National Flood Insurance Program Granted 3-Month Extension
HousingWire, Sept. 8, 2017–Brena SwansonPresident Donald Trump signed a three-month extension to the National Flood Insurance Program on Friday, giving Congress more time to come up with a long-term financial solution for the program.
Blockchain Developers Face Off Over $1 Billion in Digital Cash
Bloomberg, Sept. 8, 2017–Jef Feeley, Olga Kharif, Matthew LeisingTwo of the world’s largest blockchain developers are battling over more than $1 billion in virtual-currency options, in a dispute that may help establish the leading player in providing new payment technologies to financial companies.
How to Sabotage Your Sale
UExpress, Sept. 8, 2017–Lew SichelmanThere’s nothing more offensive than a seller hovering over a would-be buyer when he or she is looking at the house. Well, maybe there is.
Delinquency Spike Possible from Hurricane Harvey
Mortgage Daily, Sept. 8, 2017As a result of Hurricane Harvey, hundreds of thousands of residential loans could become newly delinquent, with many becoming seriously delinquent.
Varied Backgrounds for New Mortgage Executives
Mortgage Daily, Sept. 8, 2017–Sam GarciaExecutives who recently found new homes at mortgage banking firms come from a variety of backgrounds including financial compliance, information technology and subprime mortgage lending.
Mortgage Industry Springs into Action for Irma
DSNews, Sept. 9, 2017–Brianna GilpinTo combat storm damage, President Trump signed a $15.3 billion disaster relief package into law Friday that will suspend the U.S. borrowing limit and extend the National Flood Insurance Program through December 8.
Fixed Mortgage Rates Keep Falling, Sinking to Yearly Lows
Washington Post, Sept. 7, 2017–Kathy Orton (MBA Mention)Fixed mortgage rates sank to new lows for the year this week, Freddie Mac reported.