Category: Top National News

Wall Street Journal, Aug. 15, 2017–Emily Glazer (subscription) Wells Fargo & Co. said Elizabeth Duke would replace its chairman, Stephen Sanger, on Jan. 1, making the former Federal Reserve governor the first woman to hold a top board role at one of the nation’s largest banks.

Mortgage Daily, Aug. 15, 2017Monthly new business at the Federal Housing Administration moved higher, while an improvement was recorded for delinquency. The agency grew its residential and commercial books of business.

Commercial Property Executive, Aug. 15, 2017–Daniel HalprinThe departure of a department store or big-box retailer may actually represent an opportunity for landlords.

Mortgage Daily, Aug. 15, 2017A private investment firm has has taken an interest in a Silicon Valley wholesale mortgage lender, enabling a geographic expansion and entry into new lending channels.

Associated Press, Aug. 14, 2017–Martin CrutsingerA top Federal Reserve official is suggesting that the Fed will likely announce next month that it will begin paring its bond portfolio–a step that could lead to slightly higher rates on mortgages and other loans.

San Jose (Calif.) Mercury-News, Aug. 14, 2017–Richard ScheininGoogle’s new plan to remake downtown San Jose into a massive, transit-centered ‘Google village’ with up to 20,000 new jobs could forever change the city’s trajectory.

HousingWire, Aug. 14, 2017–Brena SwansonDespite housing affordability being near-record highs, homeownership still feels completely out of reach for many people, Freddie Mac Vice President and Chief Economist Sean Becketti said.

Mortgage Daily, Aug. 14, 2017A firm that has claim to be among the biggest home-purchase lender for veteran programs has agreed to pay over $1 million to settle alleged violations of the Real Estate Settlement and Procedures Act.

Mortgage Daily, Aug. 14, 2017–Sam GarciaIn addition to an acquisition involving a loan origination system, two LOS service provides have upgraded there systems–with one labeled as a “major” release. Meanwhile, LOS integrations continue.

The Real Deal Magazine, Aug. 14, 2017Fannie Mae and Freddie Mac have built a trillion-dollar business insuring mortgages. But increasingly they are doing something entirely different: selling off mortgage-backed securities without any guarantee that the two firms will pay in the event of a default.