Los Angeles Times, Dec. 29, 2015–Koren, James Rufus
Nearly a decade later, fallout from the housing crash continues to dog big banks, including San Francisco lending giant Wells Fargo, which is facing a new lawsuit from an investor that took huge losses on mortgage-backed securities that went bust.
NBC News, Dec. 30, 2015–White, Martha C.
Would-be homebuyers–especially first-timers–had an uphill climb in 2015, with tight lending standards, high rents and down payment requirements keeping many on the sidelines. Unfortunately, experts say, it’s not going to get any easier next year.
The Columbian (Wash.), Dec. 28, 2015–Harney, Kenneth R.
Homeowners and mortgage borrowers also count as special interests on Capitol Hill, and this year’s Christmas tree is sprinkled with tax benefits for them as well. Some could even lower your next tax bill.
Wall Street Journal, Dec. 30, 2015–Rudegeair, Peter; Simon, Ruth; Glazer, Emily
J.P. Morgan Chase & Co. spent about $8 billion this year on technology. But when it came to developing a new online loan for small business, the bank turned to an unlikely outsider. Early next year, J.P. Morgan will start using online lender On Deck Capital Inc. to help make loans to some of the bank’s roughly four million small-business customers.
National Mortgage News, Dec. 31, 2015
Mortgage lenders on both the residential and commercial sides of the business will have to deal with a different lending environment in 2016. These include enforcement of TILA-RESPA Integrated Disclosure violations plus rising interest rates and the impact on origination volumes.
National Mortgage News, Dec. 31, 2015–Witkowski, Rachel
The Dodd-Frank Act is a burden on community banks and credit unions but regulators are struggling to quantify the costs, according to a report released Wednesday by the Government Accountability Office.
HousingWire, Dec. 30, 2015–Swanson, Brena
Housing markets across the country are steadily making their way into the stable range, according to Freddie Mac’s latest Multi-Indicator Market Index.
Bloomberg, Dec. 31, 2015–Onaran, Yalman
Staff reductions at some of the world’s biggest banks are far from over. Deutsche Bank AG, which has held employment close to its 2010 peak, plans to slash 26,000 positions by 2018, following a trend that began with the financial crisis.
Reuters, Dec. 31, 2015–Lange, Jason
The number of Americans filing new claims for unemployment benefits rose sharply last week, a potential signal the job market was losing steam although some of the increase might be attributed to temporary holiday factors.
CNBC, Jan. 3, 2015–Gillies, Trent
In the shadow of the Fed’s modest tightening of monetary policy, mortgage rates have risen as borrowers seek to refinance before interest rates jump in earnest. In the immediate aftermath of the Fed’s decision, mortgage applications and refinancings jumped, according to the Mortgage Bankers Association.
