Mortgage Daily, Apr. 27, 2017A new offering of mortgage servicing rights on as much as $600 million in government-sponsored enterprise loans has an East Coast concentration.
Category: Top National News
20-Point Increase Expected in Credit Scores
Mortgage Daily, Apr. 26, 2017A change in the way some public records are included in consumer credit files is likely to increase scores without any meaningful change in consumer behavior.
Federal Reserve Restructuring Part of Its Large Bank Supervision Program
Wall Street Journal, Apr. 26, 2017–Katy Burne (subscription)The Federal Reserve is restructuring a panel it set up in 2010 to improve its supervision of the largest and most complex banks, according to people familiar with the initiative, in its latest effort to implement lessons learned from the financial crisis.
Courts are New Weapon of Choice for Banks Looking to Shift Policy
National Mortgage News, Apr. 26, 2017–Rob Blackwell, Joe Adler (subscription)Financial services companies and groups are increasingly willing to take the regulatory regime to court in an effort to fight back against enforcement orders and initiatives–and so far, they appear to be succeeding.
MBA Lays Out Plan for a ‘More Vibrant’ Secondary Mortgage Market
Mortgage Professional America, Apr. 25, 2017–Anna SobrevinasThe Mortgage Bankers Association released a detailed plan for GSE reform, calling for more private capital, multiple guarantors and a new federally backed insurance fund.
Rising Home Prices Raise Concerns of Overheating
Wall Street Journal, Apr. 25, 2017–Laura Kusisto (subscription)The U.S. housing market’s red-hot recovery from the depths of the crash five years ago is fueling concerns among economists and real-estate brokers that home prices are overheating.
VR Headsets are Putting the ‘Real’ in Real Estate
New York Post, Apr. 25, 2017–Lois Weiss New technology and cutthroat competition for tenants have infused commercial real estate projects in New York and beyond with a hefty dose of virtual realty.
Ocwen Takes Massachusetts, Illinois to Court to Fight Mortgage Restrictions
HousingWire, Apr. 25, 2017–Ben LaneOcwen said last week that it intended to fight back against the state regulators’ accusations and business restrictions, and the company did just that on Tuesday, announcing that it is taking the regulators in Massachusests and Illinois to court to fight for its ability to operate within the states.
Wells Fargo Board Gets Black Eye in Shareholder Vote
Reuters, Apr. 25, 2017–Dan Freed, Ross KerberWells Fargo & Co shareholders showed displeasure with the scandal-hit bank’s board on Tuesday, offering scant support for a dozen directors, including Chairman Stephen Sanger, in a vote capping a contentious annual meeting.
Mortgage Complaints Outperform Overall Complaints
Mortgage Daily, Apr. 25, 2017In March, 27,980 complaints were filed against U.S. financial service providers. Activity increased 7 percent from the previous month, the Consumer Financial Protection Burea said.