Reuters, Jan. 25, 2016–Ahmann, Timothy
The U.S. Federal Reserve said on Monday its policy meeting set for Tuesday and Wednesday would go forward as scheduled despite an ongoing cleanup in Washington after a major snowstorm.
Category: Top National News
U.S. Census Tracts: Get Access To Special Mortgages Because Of Where You Live
The Mortgage Reports, Jan. 25, 2016
The U.S. government has expanded its access to mortgage- and downpayment-assistance loan programs and huge swaths of the country are now eligible.
Huntington Bancshares to Buy FirstMerit
Wall Street Journal, Jan. 26, 2016–Glazer, Emily; Ensign, Rachel Louise
Huntington Bancshares said it would acquire FirstMerit Corp. for $3.4 billion in stock and cash in a tie-up of two Ohio-based lenders.
J.P. Morgan to Pay $1.42 Billion to Settle Most Lehman Claims
Wall Street Journal, Jan. 25, 2016–Fitzgerald, Patrick
J.P. Morgan Chase & Co. has agreed to pay the remnants of Lehman Brothers Holdings Inc. $1.42 billion in cash to settle most of the failed investment bank’s lawsuit over claims that J.P. Morgan illegally siphoned billions of dollars from Lehman before its collapse.
J.P. Morgan Settles with Ambac for $995 Million
Wall Street Journal, Jan. 26, 2016–Hufford, Austen
In the latest settlement stemming from the financial crisis, J.P. Morgan Chase & Co. agreed to pay bond insurer Ambac Financial Group Inc. $995 million to settle lawsuits alleging it misrepresented the quality of mortgages backing hundreds of securities it insured.
MBA: How Will Oil Concerns Impact Housing?
HousingWire, Jan. 22, 2016–Swanson, Brena
As concerns over falling oil prices start to plague housing, the Mortgage Bankers Association’s latest chart of the week examined the 2015 trend in employment in several states reliant on oil production to help put in perspective the potential impact to the housing market.
Cool End of Year Gives Way to Hot 2016?
Mortgage Professional America, Jan. 22, 2016–da Rosa, Justin
With many markets rebounding and the housing crisis in the rear-view mirror–yet not yet far behind us–many are calling for that recovery to continue into 2016.
State Settles Mortgage Securities Lawsuit
Daily Press (Newport News, Va.), Jan. 22, 2016–Fain, Travis
Virginia settled a lawsuit against nearly a dozen of the country’s biggest banks, which it accused of defrauding Virginia’s employee retirement fund with mortgage-backed securities. The settlement totals about $63 million, Attorney General Mark Herring announced Friday.
Is the Housing Market Transitioning to Stability?
National Mortgage Professional, Jan. 22, 2016–Hall, Phil
The latest wave of housing market data is pointing to an alignment of positive developments regarding home sales, loan closing times, rent spikes and foreclosure levels.
How FHLBs, Insurers May Challenge Membership Rule
National Mortgage News, Jan. 22, 2016–Collins, Brian
The Federal Housing Finance Agency may face legislation or a lawsuit in the near future as it tries to force captive insurance companies to exit the Federal Home Loan Bank System.