Reuters, Jan. 28, 2016–Dilts, Elizabeth; Gordon, Julie
Europe’s biggest lender HSBC will no longer provide mortgages to some Chinese nationals who buy real estate in the United States, a policy change that comes as Beijing is battling to stem a swelling crowd of citizens trying to get money out of China.
The Economic Times (India), Jan. 28, 2016–Mendonca, Jochelle
Business process outsourcing company FirstSource said it acquired US-based mortgage service provider ISGN’s BPO business, as it looks to expand into higher-margin services.
The Huffington Post, Jan. 27, 2016–Lazar, Michael
HUD is requesting approval to collect information of consumers who have participated, as mandated by law, in the Home equity Conversion Mortgage counseling sessions.
Wall Street Journal, Jan. 28, 2016–Strasburg, Jenny
Deutsche Bank AG on Thursday reported a loss for the fourth quarter and 2015, as expected, with weakness in its investment bank adding to the burdens of mounting legal and restructuring costs.
Wall Street Journal, Jan. 26, 2016–Scism, Leslie; Beilfuss, Lisa
American International Group Inc. will sell its broker-dealer network, conduct an initial public offering of its mortgage-insurance unit and more aggressively cut costs, Chief Executive Peter Hancock said in a strategy update Tuesday, as pressure from investor Carl Icahn grows.
National Mortgage Professional, Jan. 26, 2016–Hall, Phil
Three different data-crunching organizations have examined the state of U.S. home prices and have come to the same conclusions: Home prices show no signs of falling.
National Mortgage News, Jan. 26, 2016–Godfrey, Hans
The mortgage industry can better manage disparate regulatory requirements with a comprehensive approach that streamlines compliance.
Reuters, Jan. 26, 2016–Burns, Dan; Mutikani, Lucia
U.S. consumer confidence improved in January despite a stock market rout and house prices accelerated in November, suggesting underlying strength in the economy despite a sharp growth slowdown in recent months.
Scotsman Guide, Jan. 26, 2016–Whitman, Victor
Now that the Federal Housing Administration’s insurance fund has rebounded, some mortgage lobbyists say it’s time for the Obama Administration to cut the FHA’s mortgage insurance premiums for the second year in a row–but not all agree. Mortgage Bankers Association President David Stevens said a swing in the FHA’s home-equity conversion mortgage program, also known as a reverse mortgage, boosted the reserve to its required minimum level.
Columbus Dispatch, Jan. 27, 2016–William, Mark
The last time Huntington Bancshares made a big acquisition, the bank got stuck with $1.5 billion in toxic subprime loans that blew up during the recession and help pushed the bank’s stock down to a dollar. This time, Huntington says its acquisition of Akron-based FirstMerit Bank is different.
