National Mortgage News, Apr. 11, 2016–Berry, Kate
Congress should consider giving direct authority over nonbank mortgage servicers to the Federal Housing Finance Agency, according to a report released Monday by the Government Accountability Office.
Category: Top National News
Mortgage Lenders: The Future of Your Business Rests on Mobile Technology
HousingWire, Apr. 8, 2016–Messerli, Kristin
The Mortgage Bankers Association held its annual technology conference in Los Angeles, in which experts in mortgage technology gathered to discuss compliance, purchasing trends, and consumer experience. One panel focused on the trends in mobile usage and the necessity for lenders to adopt mobile technology.
Millennial Employees Confound Big Banks
Wall Street Journal, Apr. 8, 2016–Huang, Daniel; Gellman, Lindsay
Entry-level bankers from Goldman Sachs Group Inc. gathered in a lower Manhattan hotel ballroom last April to listen to the firm’s top executives try to fire them up about their budding careers.
Is This the Secret to Housing Reform?
National Mortgage News, Apr. 8, 2016–Collins, Brian
Fannie Mae and Freddie Mac’s experiments with selling credit risk to investors are a critical element of new plan to merge the two entities and move them out of conservatorship, but what form so-called credit risk transfers take could make a big difference.
Collingwood Group Chairman Calls Out ‘Regulatory Jihad’ on Mortgage Lenders
HousingWire, Apr. 8, 2016–Lane, Ben
Count Tim Rood, chairman of The Collingwood Group, among those who think the regulatory environment is smothering mortgage lenders.
How to Solve the Housing Crisis: More Lawyers
Bloomberg, Apr. 8, 2016–Clark, Patrick
Cities could save millions of dollars in tax revenue by helping renters fight landlords. Or so a group of attorneys says.
U.S. Wholesale Inventories Fall Sharply, Point to Weaker Growth
Reuters, Apr. 8, 2016–Lange, Jason
Wholesale inventories dropped 0.5 percent in February, the Commerce Department said on Friday, the sharpest decline since May 2013. Analysts polled by Reuters expected a 0.1 percent decline.
Fed’s Dudley Sees Risks Lingering, Cautious on U.S. Rate Hikes
Reuters, Apr. 8, 2016–Spicer, Jonathan
The Federal Reserve must approach further rate hikes cautiously and gradually because of lingering external risks to the U.S. economy, despite some strength at home and welcome hints of inflation, New York Fed President William Dudley said Friday.
Trade Groups Call Out CFPB on Message Confusion
National Mortgage Professional, Apr. 8, 2016–Hall, Phil
At a hearing before the Senate Banking Committee, Mortgage Bankers Association Senior Vice President of Legislative and Political Affairs Bill Killmer urged the CFPB to provide clear “rules of the road” whenever it plans to create new rules or to update both existing guidelines and the interpretations of longstanding policies.
Wells Fargo Admits Deception in $1.2 Billion Mortgage Accord
Reuters, Apr. 9, 2016–Stempel, Jonathan
Wells Fargo & Co admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice lawsuit.