Category: Top National News

The Hill, May 10, 2017–Lydia WheelerThe Consumer Financial Protection Bureau is reviewing the mortgage servicing rules under the Real Estate Settlement Procedures Act that was amended under the Dodd-Frank Act.

HousingWire, May 10, 2017–Brena SwansonThe Texas Department of Savings and Mortgage Lending recently ordered Ocwen Financial Corp. to cease and desist, adding its name to a growing list of states and regulators coming after the mortgage servicer over alleged violations of state and federal law.

Burlington County Times (N.J.), May 10, 2017–Crissa Shoemaker DeBreeMount Laurel mortgage company PHH Corp. reported a first-quarter net loss of $67 million, or $1.26 a share. The loss was double the $30 million loss reported a year ago and comes as the company continues to restructure its business.

Mortgage Orb, May 10, 2017–Patrick BarnardNorth Carolina made history last week when it hosted its first paperless, all-electronic e-closing in the state. What’s more, it was only the fifth all-electronic e-closing in the U.S.

Mortgage Daily, May 10, 2017One offering has 3,600 non-performing Fannie Mae loans with a collective unpaid principal balance of $613 million. Bids are due by June 1.

Mortgage Daily, May 10, 2017Years after home lenders began settling charges of discrimination against women on maternity leave, one credit union didn’t get the message it’s illegal.

Wall Street Journal, May 11, 2017–Andrew Ackerman (subscription)The Senate Banking Committee has begun behind-the-scenes work on the issue of how, exactly, to revamp the companies. The senators want to develop a framework to decrease the government’s outsize role backstopping the nation’s $10 trillion mortgage market.

MarketWatch, May 9, 2017–Laura LamagnaChase JPM announced Monday it is offering 100,000 Chase Ultimate Rewards points to its customers who have Sapphire, Sapphire Preferred or Sapphire Reserve credit cards–if they open a mortgage with Chase.

National Mortgage News, May 9, 2017–Brad Finkelstein (subscription)As president and CEO of Arch MI, the new No. 1 private mortgage insurance carrier, David Gansberg has his company focused on new opportunities for growth, like the rise of millennial and low-to-moderate-income borrowers and the ever-important purchase mortgage market.

Wall Street Journal, May 9, 2017–Josh Zumbrun (subscription)The Labor Department’s main jobs report in March showed a small slump in hiring, but a secondary jobs report for that month, released Tuesday, showed little change in the labor market’s underlying momentum.