Category: Top National News

National Mortgage News, May 27, 2016–Finkelstein, Brad
JPMorgan Chase is close to satisfying its $4 billion consumer relief obligation under a residential mortgage-backed securities settlement.

UExpress, May 27, 2016–Sichelman, Lew
According to a survey by American Consumer Credit Counseling, a national nonprofit that helps consumers with budgeting, financial education and debt management, 41 percent of those polled are providing support for one adult child. Ten percent are supporting two. The most common type of support was in the form of housing.

Wall Street Journal, May 30, 2016–Canipe, Chris; Baer, Justin; Redegeair, Peter
Citigroup Inc. in 1998 became the first modern-day megabank. Its trajectory since reveals the rise and decline of the global bank model.

National Mortgage News, May 27, 2016–Peters, Andy
The largest banks are dumping their holdings of Fannie Mae and Freddie Mac debt, and it’s contagious. It turns out small banks have been doing the same thing.

HousingWire, May 27, 2016–Lane, Ben
Lost in the shuffle of the United States Court of Appeals for the Second Circuit’s decision to toss the $1.27 billion penalty against Bank of America in a fraud case over defective mortgages sold by Countrywide was the fact that the court also overturned the fraud charges and voided the $1 million penalty against Rebecca Mairone, who the New York Times once referred to as the “face of the housing crisis.”

Reuters, May 30, 2016–Kim, Christine; Lee, Se Young St. Louis Federal Reserve President James Bullard said on Monday global markets appear to be “well-prepared” for a summer interest rate hike from the Fed, although he did not specify a date for the policy move.

CNBC, May 26, 2016–Olick, Diana
The nation’s largest lender, Wells Fargo, says it is opening the credit box with a new low down payment loan–a loan it claims is low-risk to the bank.

Associated Press, May 26, 2016
Long-term U.S. mortgage rates rose this week but remained at low levels that could entice purchasers amid the current home buying season.

U.S. News & World Report, May 26, 2016–Mead, Sara
The author asserts that the mortgage interest deduction benefits a small portion of homeowners while reducing tax monies needed to support public education programs.

Wall Street Journal, May 26, 2016–Morath, Eric
Orders for long-lasting goods improved in April due to a surge in the volatile civilian-aircraft category, but underlying data shows businesses remain hesitant to invest.