Category: Top National News

Mortgage Daily, May 30, 2017This summer, Fannie Mae is updating its automated underwriting system with more relaxed requirements for ratios, credit and adjustable rates.

Mortgage Daily, May 30, 2017On Friday, the Illinois banking regulator closed down Fayette County Bank. The Federal Deposit Insurance Corp. was appointed conservator.

Los Angeles Times, May 30, 2017–James Rufus KorenMortgage discrimination lawsuits filed by Los Angeles against Bank of America and Wells Fargo & Co. have hit a roadblock, with a federal appeals court saying the cases spurred by last decade’s housing bust lack merit.

Bloomberg, May 30, 2017–Matt ScullyDeutsche Bank AG chief John Cryan urged regulators in Europe to reject the same kind of heavy-handed rules for banks’ mortgage holdings that have been adopted by their American counterparts.

Forbes, May 30, 2017–Trefis TeamThe total mortgage servicing portfolio at the the five largest U.S. banks continues to shrink at a rapid pace, as these banks now service under $3.4 trillion in outstanding U.S. mortgages – down from a figure of almost $3.7 trillion at the end of Q1 2017.

HousingWire, May 30, 2017–Kelsey RamirezOver the next five years, about 6 million Americans will have their bankruptcies disappear, possibly sending a flood of more homebuyers into the housing market.

American Banker, May 26, 2017–Kate Berry (subscription)A federal appeals court appears to be leaning toward a ruling in favor of the Consumer Financial Protection Bureau, with several judges arguing that a single director is more accountable to the president than a multimember commission.

Asbury Park Press (N.J.), May 26, 2017–Jean Mikle, Russ ZimmerHomeowners have until 5 p.m. Wednesday to request a mortgage forbearance certification from the state, under a program that aims to give Sandy victims a measure of financial relief.

Mortgage Orb, May 26, 2017–Patrick BarnardThe Federal Housing Finance Agency is seeking feedback from mortgage lenders and servicers to learn more about what they are doing to help mortgage borrowers with limited English proficiency.

National Mortgage News, May 26, 2017–Bonnie Sinnock (subscription)Maryland Gov. Larry Hogan (R) signed a bill that will put vacant home foreclosures on a faster track starting Oct. 1.