HousingWire, May 13, 2016–Lane, Ben
The Department of Justice announced Friday that M&T Bank will pay $64 million for originating loans that did not meet Federal Housing Administration underwriting standards.
Category: Top National News
Finally: $8.5B Countrywide Mortgage Bond Settlement Gets Green Light
HousingWire, May 13, 2016–Lane, Ben
Ending a legal quagmire that stretched back to 2011, investors are finally set to receive their money from an $8.5 billion settlement involving Bank of America, mortgages originated by its Countrywide unit, and the Bank of New York Mellon, which acted as the trustee for the mortgage bond investors.
The Vultures’ Vultures: How A New Hedge-Fund Strategy Is Corrupting Washington
Huffington Post, May 13, 2016–Grim, Ryan; Blumenthal, Paul
Old Washington hands involved say that nothing they’ve seen before in politics has prepared them for the mercenary campaigns the hedge funds are now waging.
How a Low Credit Score Can Waylay a Jumbo Mortgage
Wall Street Journal, May 12, 2016–Martin, Anya
Having lots of money and assets might seem to automatically qualify someone for a jumbo mortgage, but some affluent borrowers still face credit-score challenges.
Mortgage REITs: Juicy Dividends and Ace Charts
Barrons, May 12, 2016–Kahn, Michael
Unlike the rest of the stock market, mortgage REITs did not recover from the financial crisis bear market. But the sector has rallied nicely since January and this week exceeded the March 2009 low.
Foreclosure Starts Fall to Lowest Level Since 2000: MBA
National Mortgage News, May 12, 2016–Passy, Jacob
Foreclosures continued to decrease in the first quarter, while delinquencies remained flat from the previous quarter, according to the Mortgage Bankers Association.
Affordable Mortgage Rates? Loan Originations Fall to Two-Year Low
HousingWire, May 12, 2016–Lane, Ben
Despite that mortgage interest rates routinely hovered around “historic” lows for much of the first quarter, loan originations fell to their lowest level in two years, according to RealtyTrac.
Economists Disagree With Voters Who See U.S. Worse Off Today Than in 1960s
Wall Street Journal, May 12, 2016–Zumbrun, Josh
When was America at its best? Put the question to voters and many will point as far back as the 1960s. Put the question to economists and they identify a much more recent peak in U.S. living standards.
Buyers Build Upscale Homes in the Backwoods
Wall Street Journal, May 12, 2016–Gamerman, Amy
Many dream of owning unspoiled land where they can craft their own retreat, but building a luxury home in a remote location comes with plenty of challenges,
Redwood Trust Expands Credit Box for Prime Jumbos
National Mortgage News, May 12, 2016–Collins, Brian
Redwood Trust is broadening what kinds of prime jumbo mortgages it will accept and its appetite for non-qualified mortgages.