Chicago Tribune, Mar. 7, 2017–Kenneth R. HarneyDavid Stevens, president and CEO of the Mortgage Bankers Association, said that if tax lien and civil judgment data is suppressed from credit reports, “it’s unclear whether creditors will be able to make informed decisions” about loan applicants. Stevens said that blocking this information will raise some applicants’ credit scores artificially, creating “false positives” that make individuals appear lower risk than they are.
Category: Top National News
Industry Backs Bill to Prevent G-Fee Raids
Scotsman Guide, Mar. 7, 2017–Victor WhitmanThe Mortgage Bankers Association, the American Bankers Association, the Independent Community Bankers of America and 10 other trade groups recently signed a letter in support of the bill.
Astoria Deal to Turn Sterling into Regional Power in New York
National Mortgage News, Mar. 7, 2017–John Reosti; Allison Prang (subscription)Jack Kopnisky is ready to take another shot at turning a lackluster thrift into a thriving commercial bank.
Biggest Industry Pain Points with TRID Still Tied to Title and Settlement Services
HousingWire, Mar. 7, 2017–Sarah WheelerPanelists at an Ellie Mae conference said the Consumer Financial Protection Bureau’s proposed changes to the rule don’t address two of the biggest challenges, both of which concern lenders coordinating with title and settlement services.
Mark Calabria, Pence’s Chief Economist: CFPB Will Survive Trump Administration
HousingWire, Mar. 7, 2017–Ben LaneDespite the concerted effort by members of the Republican Party to dismantle the Consumer Financial Protection Bureau, a top Trump administration official told attendees at a conference in Washington that the embattled agency will likely survive the Trump administration.
MBA 2017: Q&A with Hunt Mortgage Group President & CEO James Flynn
Multi-Housing News, Mar. 6, 2017–Sanyu KyeyuneHunt Mortgage Group President & CEO James Flynn caught up with Multi-Housing News at the Mortgage Bankers Association CREF/Multifamily Housing Convention & Expo in San Diego to share his views on regulatory reform, competition among capital providers and the future of multifamily lending.
How Liquidity Promotes Opportunity, Yield and a Greater Public Good
Wall Street Journal, Mar. 6, 2017–Emily Glazer (subscription)Allen Parker, the recent former head of white-shoe law firm Cravath Swaine & Moore LLP, is slated to begin his new role March 27, succeeding James Strother who the bank said will retire after 30 years at Wells Fargo.
MBA Forms Strategic Alliance with Lenders One Cooperative
National Mortgage News, Mar. 6, 2017–Jacob Passy (subscription)The Mortgage Bankers Association has partnered with Altisource subsidiary Lenders One Cooperative, providing the organization’s members with expanded benefits.
CoreLogic Chooses Frank Martell to Replace Anand Nallathambi as President, CEO
HousingWire, Mar. 6, 2017–Ben LaneCoreLogic announced Monday that its board of directors selected Frank Martell, the property information, analytics and data-enabled services provider’s chief operating officer, to serve as president and CEO.
Black Knight: Q4 Activity Helped End 2016 With a Bang
National Mortgage Professional, Mar. 6, 2017–Phil HallThe fourth quarter recorded $2.1 trillion in first lien mortgage originations, a 17 percent year-over-year increase, according to new data from Black Knight Financial Services. The final quarter of last year also saw nearly $300 billion in refinance originations, a 58 percent year-over-year spike.