Category: Top National News

Primary new mortgage insurance slipped to $4 billion, according to MGIC Investment’s August operational summary of its insurance subsidiaries for its primary mortgage insurance slightly down from $4.5 billion in July and June.

After last week’s disappointing jobs report, there’s some good news on the employment front. Job openings hit a new record high of 5.75 million in July, the Labor Department reported Wednesday.

Millennials aren’t only a rapidly-growing consumer base, they’re also the encroaching workforce. To recruit this group and sustain future growth, companies have to build a brand and culture that we want to join. Bill Cosgrove, Mortgage Bankers Association chairman and CEO of Union Home Mortgage, says it well: “A diverse workforce does not show up at your door. You must have the strategies to get it, and it needs to be a long-term strategy.”

The majority of Lenders One mortgage banker members (60%) expect 2016 will be a sellers’ market and the vast majority (89%) of members believe the market could weather a possible interest rate increase this fall.

The Securities and Exchange Commission and the U.S. Attorney’s office in Connecticut on Tuesday brought charges against three former traders at New York-based brokerage firm Nomura Securities International who allegedly lied about the prices of residential mortgage-backed securities to make money.

By allowing Bank of America to pad its statistics by including mortgages scheduled for a bankruptcy discharge, DOJ was following on the well trod path of laissez faire oversight that caused the Wall Street collapse in the first place.

A shortage of glass is taking a toll on the nation’s commercial building boom, adding millions of dollars to the cost of new skyscrapers and halting some projects midway through construction.

Walter Investment Management has reached a settlement with federal authorities over reverse-mortgage practices at a business unit.

Ocwen Financial Corp. on Friday won the dismissal of two securities class actions that arose from alleged compliance issues related to servicer agreeing to a $150 million settlement in 2014 with the New York’s Department of Financial Services last December.

U.S. District Judge Victor Marrero dismissed a five-year class action lawsuit against Goldman Sachs over the sale of highly leveraged, subprime mortgage bonds that hedge fund Dodona I LLC said Goldman planned to bet against.