Category: Top National News

HousingWire, June 7, 2017–Brena SwansonAfter a little more than a year, HSBC officially completed its obligations under the National Mortgage Settlement, according to the latest update from Joseph Smith, monitor of the National Mortgage Settlement.

National Mortgage News, June 6, 2017–Kate Berry, Ian McKendry (subscription)In a 15-page report released Tuesday by Republican staff, the committee claimed that the CFPB has not produced records showing that it conducted a full investigation of Wells’ branch sales practices or that it was aware of problems with phony accounts before the L.A. city attorney took action against the bank.

Scotsman Guide, Jun 6, 2017–Victor WhitmanPamela Patenaude, nominated by President Donald Trump to the second highest job at HUD, faced tough questions on the deep cuts proposed to the agency’s budget, but largely sailed through her confirmation hearing before the Senate Banking Committee on Tuesday.

Mortgage Professional America, June 5, 2017–Steve RandallComplaints about mortgages are the second most common among American seniors according to figures from the Consumer Financial Protection Bureau.

Los Angeles Times, June 4, 2017–Andrew KhouriConsumer groups, regulators and lawmakers are increasingly raising concerns about Property Assessed Clean Energy loan programs, which are authorized by governments but largely administered and funded by private lenders.

National Mortgage News, June 5, 2017–Bonnie Sinnock (subscription)Public companies in the mortgage industry have to act swiftly and decisively to continuously meet the demands of both their customers and shareholders. They are often a bellwether of broader industry changes, particularly during a cyclical market shift.

HousingWire, June 5, 2017–Ben LaneMaryland announced last week that it reached a $95 million settlement with Deutsche Bank over claims that Deutsche Bank misled investors about its securitization and sale of residential mortgage-backed securities and collateralized debt obligations during the run-up to the financial crisis.

Reuters, June 5, 2017–Lucia MutikaniU.S. services sector activity slowed in May as new orders tumbled, but a jump in employment to a near two-year high pointed to sustained labor market strength despite a deceleration in job growth last month.

Mortgage Daily, June 5, 2017The American Bankruptcy Institute said businesses and consumers collectively filed 69,668 new cases in the nation’s bankruptcy courts in May.

Mortgage Daily, June 5, 2017S&P Global said volume of residential loan securitizations has more than doubled the level activity at the same point last year.