Category: Top National News

Reuters, Sept. 28, 2017–Brendan PiersonThe banks had challenged the 2015 award on multiple grounds, including that the loss of the securities’ value was largely caused not by any false statements, but by the broader financial crisis in 2008.

HousingWire, Sept. 28, 2017–Ben LaneAt the core of each consent agreement is a stipulation that Ocwen move its servicing off of the REALServicing platform, its proprietary servicing platform, which is used to process and apply borrower payments, communicate payment information to borrowers and maintain loan balance information.

Reuters, Sept. 28, 2017–Lucia MutikaniGross domestic product increased at a 3.1 percent annual rate in the April-June period, the Commerce Department said in its third estimate on Thursday. The upward revision from the 3.0 percent rate of growth reported last month reflected a rise in inventory investment.

CNBC, Sept. 27, 2017–Diana OlickThe start of the fall housing market usually offers a nice bump to the mortgage business. Not this year. Mortgage application volume fell 0.5 percent last week from the previous week. Volume on the Mortgage Bankers Association’s seasonally adjusted survey is now 21.5 percent lower than a year ago.

Scotsman Guide, Sept. 27, 2017–Victor WhitmanOverall commercial and multifamily debt rose to $3.06 trillion at the end of the second quarter as three of the four major investor groups increased their holdings, according to the Mortgage Bankers Association.

Wall Street Journal, Sept. 27, 2017–Christina Rexrode (subscription)Ginnie Mae is targeting lenders who aggressively push military veterans to refinance their home loans, leading the borrowers in some cases to rack up thousands of dollars in unnecessary fees.

National Mortgage Professional, Sept. 27, 2017–Phil HallMillennials are finding their efforts to become homeowners stymied by financial pressures, according to a new data analysis released by Zillow.

Bloomberg, Sept. 27, 2017–Anna EdgertonThere’s “significant support” among Republican members of the tax-writing House Ways and Means Committee to create a special top income-tax bracket for the highest earners, a GOP member of the panel said.

National Mortgage News, Sept. 27, 2017–Brad Finkelstein (Free Content)The need to rebuild and repair houses following Hurricanes Harvey and Irma is likely to put a damper on new construction and aggravate the inventory shortage. The same crews that build new homes are also used to renovate existing ones, said Mark Fleming, Chief Economist at First American Financial Corp.

Politico, Sept. 27, 2017–Lorraine WoellertThe National Association of Home Builders split with industry allies to endorse a White House plan that reduces tax breaks for homeowners, increasing the vulnerability of a write-off that was once considered untouchable. David Stevens, president and chief executive officer of the Mortgage Bankers Association, said he was waiting for more details on the proposal.