Bloomberg, Jan. 11, 2016–Turner, Nick
Activist hedge fund Starboard Value stepped up pressure on Macy’s Inc. to squeeze money out of the department-store chain’s real estate, which the firm values at $21 billion.
Category: Top National News
Auction.com Rebrands as Ten-X, the ‘Future of Real Estate’
Housing Wire, Jan. 11, 2016–Lane, Ben
When Real Estate Disposition rebranded itself as Auction.com in 2011, the company led a migration of distressed property auctions online. Since then, the company has expanded its distressed property auction business in both residential and commercial sales and recently became a desired portal for traditional real estate sales as well.
Insurers’ Mortgage Holdings Stay Solid
GlobeSt.com, Jan. 12, 2016–Bubny, Paul
Insurers’ allocations to commercial mortgages showed a slight increase for the first six months of 2015 compared to year-end 2014, while the delinquency rate among these mortgages is bested only by Fannie Mae and Freddie Mac, according to recent figures from the Mortgage Bankers Association.
Silicon Valley: We Don’t Trust FICO Scores
Wall Street Journal, Jan. 11, 2016–Rudegeair, Peter
A new generation of lenders is challenging the usefulness of one of the bedrocks of the modern financial system: the FICO score.
Supreme Court Denies Appeal on Student-Loan Erasure
Wall Street Journal, Jan. 11, 2016–Kendall, Brent; Mitchell, Josh
The Supreme Court on Monday turned away an appeal that sought to make it easier to erase student loans in bankruptcy, sidestepping an issue that has become a focal point for consumer advocates and lawmakers as millions of borrowers fall behind on their payments.
Chase Edges Closer to Fulfilling $4B Consumer Relief Requirement
HousingWire, Jan. 12, 2016–Swanson, Brena
The latest update on JPMorgan Chase’s RMBS settlement shows it is nearing its $4 billion requirement in credited consumer relief.
Walker & Dunlop Buys Out Fortress in CMBS Joint Venture
National Mortgage News, Jan. 11, 2016–Peters, Andy
Walker & Dunlop has agreed to acquire the other half of a commercial mortgage-backed securities joint venture it has with Fortress Investment Group.
CFPB Takes Second Look at Its Tolerance Levels for HMDA Errors
National Mortgage News, Jan. 8, 2016–Berry, Kate
Some lenders have asked whether the bureau would adjust its so-called resubmission guidelines – which determine whether lenders have to refile data based on errors found in samples–and it has responded with a request for further industry input.
Wells Fargo Home Lending Default Servicing Promotes New SVP
HousingWire, Jan. 8, 2016–Swanson, Brena
Wells Fargo promoted Carmen Bell to senior vice president of Wells Fargo Home Lending Default Servicing, where she will lead teams dedicated to helping customers prevent and resolve delinquencies, oversight of collections, single point-of-contact initiatives, underwriting, short sales and mediations.
MBA: Strong CRE Market Expected in 2016
National Mortgage Professional, Jan. 8, 2016
Commercial and multifamily mortgage lending is expected to increase in 2016, as lenders’ and borrowers’ appetites for new loans remain strong, according to a new Mortgage Bankers Association survey of the top commercial and multifamily mortgage origination firms.