HousingWire, Sept. 19, 2017–Ben LaneOcwen Loan Servicing, a subsidiary of Ocwen Financial, reached a $17.5 million settlement that covers a pair of lawsuits that accused Ocwen of calling consumers’ cellphones without their consent, in violation of the Telephone Consumer Protection Act.
Category: Top National News
Toys ‘R’ Us Shows Real Estate Can’t Save Retailers
Bloomberg, Sept. 19, 2017–Lisa AbramowiczThe company has sought to prop up its failing business model for years by shuffling debt around and adding leverage to less-encumbered assets. This has undermined the extra safety and value that the real estate should have provided.
Mortgage Conferences Cover Compliance, Technology
Mortgage Daily, Sept. 19, 2017–Sam GarciaTopics to be covered at several upcoming mortgage-related events include compliance risk, housing risk and mortgage technology. One forum will tackle multifamily issues.
Empowering Women in Real Estate Finance
Mortgage Women Magazine, September 2017–Marcia DaviesMBA COO Marcia Davies says creating a space for women to advance and providing tools so they can reach their full potential must be a collective goal of the real estate finance industry.
The Fed, a Decade After the Crisis, Is About to Embark on the Great Unwinding
Wall Street Journal, Sept. 18, 2017–Nick Timiraos (subscription)The Federal Reserve resorted to a series of shock-and-awe stimulus campaigns to stabilize the economy after the financial crisis. Now the Fed is preparing the final move to unwind its support–and it wants to be as boring as possible.
Survey Finds 20 Percent of Millennials Are Homeowners
National Mortgage Professional, Sept. 18, 2017–Phil HallA new survey found only 20 percent of Millennial respondents own a home while carrying a student debt load ($41,200) greater than their annual income ($38,800).
Equifax, Wells Fargo Fiascos Prove Housing Needs Immediate Reform
HousingWire, Sept. 18, 2017–Jacob GaffneyHousingWire Editor in Chief says latest issues must spur Congress to take action on a number of housing finance fronts.
CFPB Settles With Owners of Wall Street’s Worst Student Debt
Bloomberg, Sept. 18, 2017–Shahien NasiripourThe Consumer Financial Protection Bureau had accused the National Collegiate Student Loan Trusts of illegally collecting from thousands of distressed borrowers using faulty paperwork, back-dated documents and other deceptive or unfair means.
State Licensed Loan Originators at Record High
Mortgage Daily, Sept. 18, 2017Including loan officers at financial institutions and at non-bank mortgage firms, there were 562,469 people registered in the Nationwide Mortgage Licensing System as of the second quarter.
Non-Banks Grab Mortgage Market Share from Banks
Mortgage Daily, Sept. 18, 2017Over the past year, the nation’s banks have given up mortgage market share to non-bank home lenders. Credit union share also widened.