Reuters, Feb. 9, 2017–Tom HalsSears Holding Corp. Chairman and CEO Eddie Lampert and the company’s board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain’s best stores.
Category: Top National News
Ginnie MBS Outstanding at All-Time High
Mortgage Daily, Feb. 9, 2017As of Jan. 31, there were $1.7865 trillion in Ginnie Mae mortgage-backed securities outstanding. That marked the biggest book of business ever for the government-owned corporation based on its own historical numbers going back to 1990.
This Real Estate Giant Is Known For Its Massive Acquisitions, But Is Also A Leading Lender In NYC
Forbes, Feb. 9, 2017–Ely RazinWhich company is best known for its equity, yet was among the top 10 originators of commercial real estate financing in New York City in the first nine months of 2016 and the top five in Q3?
U.S. Consumer Watchdog Targeted for Budget Cuts by Republican Lawmaker
Reuters, Feb. 9, 2017–Patrick Rucker; Lisa Lambert; Amanda BeckerJeb Hensarling of Texas, the Republican chairman of the House Financial Services Committee, said the CFPB could be “functionally terminated” if Congress simply drained the agency’s budget.
Fed’s Bullard Says Rates Can Remain Low Through 2017
Reuters, Feb. 9, 2017–Howard SchneiderU.S. interest rates can likely remain low through at least 2017, with no clear sense yet of whether the Trump administration’s policies will spark higher inflation or growth, St. Louis Federal Reserve Bank President James Bullard said on Thursday.
U.S. Jobless Claims Unexpectedly Fall to Lowest Since November
Bloomberg, Feb. 9, 2017–Sho ChandraApplications for unemployment benefits in the U.S. unexpectedly declined last week to an almost three-month low, echoing a vibrant job market.
Mortgage Complaints Improve More than Overall
Mortgage Daily, Feb. 9, 2017During the final month of last year, there were 22,852 complaints that were filed by U.S. consumers with the Consumer Financial Protection Bureau.
Stewart, First American Post Higher 4Q Revenue
National Mortgage News, Feb. 9, 2017–Jacob PassyNet income rose sharply from a year earlier during the fourth quarter at Stewart Information Services Corp., while it held steady at First American Financial Corp.
Cash-Out Refis Back in Demand, Raising Credit Concerns
National Mortgage News, Feb. 9, 2017–Andy PetersThe rise in home values is good news for homeowners looking to tap the equity in their homes to pay down debt or make big purchases, but some consumer groups fear it could lead to a new wave of loan defaults.
Ellie Mae Just Misses Second Straight $100 Million Quarter
HousingWire, Feb. 9, 2017–Ben LaneIt was another strong year for Ellie Mae, as the company reported Thursday that it saw solid financial results in 2016.