National Mortgage News, Feb. 1, 2017–Ian McKendryThe Senate Finance Committee approved the nomination of Treasury Secretary-designate Steven Mnuchin 14-0 on Wednesday after changing the rules to allow Republicans to vote without any Democrats present.
Category: Top National News
Senate Republicans Unveil Bill to Replace CFPB Director with Committee
HousingWire, Feb. 1, 2017–Ben LaneOn Tuesday, Sens. Deb Fischer, R-Neb.; John Barrasso, R-Wyo.; and Ron Johnson, R-Wis., introduced a bill that would replace the single director of the Consumer Financial Protection Bureau with a five-member bipartisan committee, a change the Republican Party has long pushed for.
ADP Predicts Strongest Job Increase Since June
HousingWire, Feb. 1, 2017–Kelsey RamirezPrivate-sector employment is set to increase by 246,000 from December to January on a seasonally adjusted basis, according to the report. This is significantly above December’s increase of 156,000 jobs.
Who Will Pay for San Francisco’s $750 Million Tilting Tower?
Bloomberg, Feb. 1, 2017–James Tarmy; Kartikay MehrotaThe Millennium Tower is still sinking, and residents might be stuck paying for the fixes themselves.
The Fed’s Bond Portfolio Is Growing Up, and That Means Less Support for the Economy
Wall Street Journal, Feb. 2, 2017–Ben Eisen; Min ZengFederal Reserve Chair Janet Yellen says declining maturity of portfolio has same impact as two rate increases in 2017.
FNF Earns $231M in 4Q, Up 60% from Prior Year
National Mortgage News, Feb. 1, 2017–Brad FinkelsteinThe title insurance business of Fidelity National Financial earned $231 million in the fourth quarter, up 60% year over year.
JPMorgan Chase to Pay Nearly $800 Million in Final Lehman Brothers Settlement
HousingWire, Feb. 1, 2017–Lane, BenJPMorgan Chase disclosed Wednesday that it reached a final settlement agreement with Lehman Brothers, ending the failed investment bank’s lawsuit over claims that JPMorgan illegally siphoned billions of dollars from Lehman before its collapse.
Several Topics to Be Covered at Mortgage Events
Mortgage Daily, Feb. 1, 2017–Sam GarciaTopics to be covered at several upcoming events tied to home lending include mortgage servicing rights, reverse mortgages and social media. Compliance is also on the agenda.
Fannie MBS Issuance Tumbles
Mortgage Daily, Feb. 1, 2017After soaring in the final month of last year, securitizations at Fannie Mae sank in the first month of this year — leading overall agency issuance lower.
Movement’s Annual Originations, Staffing Climb
Mortgage Daily, Feb. 1, 2017In addition to boosting its annual home-lending volume by more than half, Movement Mortgage LLC added nearly a thousand employees last year.