Reuters, Sept. 25, 2015–Connor, Michael
Growth in America’s services sector eased during September to its slowest rate at any time during the last three months as new business expansion weakened for a second month, an industry report showed on Friday.
Associated Press, Sept. 27, 2015
Former Great Country Mortgage Bankers owner Hector Hernandez will serve the longest prison term of anyone involved in the massive scheme andalso must pay more than $64 million in restitution.
HousingWire, Sept. 28, 2015–Garrison, Trey
The Mortgage Bankers Association and a coalition sent a letter to House Financial Services Committee Chairman Jeb Hensarling, R-Texas, and Ranking Member Maxine Waters, D-Calif., expressing concern with the Federal Housing Finance Agency’s proposed rule changes to Federal Home Loan Bank membership.
Wall Street Journal, Sept. 24, 2015–Beilfuss, Lisa Hudson City Bancorp Inc. will pay almost $33 million to resolve claims that it engaged in discriminatory mortgage lending practices, the latest example of how the government is increasingly scrutinizing banks and other lenders for patterns of discrimination.
Reuters, Sept. 24, 2015–Jones, Huw Global regulators meet in London on Friday to agree a rule on stopping banks being “too big to fail” by requiring them to hold enough equity capital and bonds to avoid taxpayers being called on in a crisis.
HousingWire, Sept. 24, 2015–Garrison, Trey
Average fixed mortgage rates declined following the Federal Reserve’s decision to defer a hike in the Federal funds rate, according to Freddie Mac.
RTT News, Sept. 24, 2015
U.S. new home sales continued to surge in August, as buyers took advantage of low interest rates and better employment.
Forbes, Sept. 24, 2015–Team, Trefis
The country’s largest banks have been wary of adding mortgages not originated by them to their balance sheets, with the banks reporting another sequential reduction in their third-party mortgage servicing portfolios in Q2 2015.
Reuters, Sept. 24, 2015–Varadhan, Sudarshan
Mortgage servicer Ocwen Financial Corp said it would cut 300 jobs, about 10 percent of its U.S. workforce, in Waterloo, Iowa to save costs.
Wall Street Journal, Sept. 24, 2015–Mitchell, Josh
Pocket listings-also known as “whisper” and “coming soon” listings-have been popular for years among celebrities and the wealthy seeking to shield their privacy. But they are increasingly used by a broader segment as the housing market heats up and inventory remains tight.
