National Mortgage News, Oct. 27, 2015–Karen, Ari
When the Consumer Financial Protection Bureau issued its long-awaited final Home Mortgage Disclosure Act rule last week the amount of data readily available to the agency was greatly expanded. This isn’t heralded by the mortgage industry, however. Combined with the disparate impact theory, recently recognized by the U.S. Supreme Court under the Fair Housing Act, the HMDA rule further compounds legal risks and business challenges to lenders.
National Mortgage News, Oct. 27, 2015–Collins, Brian
The financial condition of the Federal Housing Administration’s mortgage insurance fund has improved “significantly” over the past year, HUD Secretary Julian Castro said.
National Mortgage News, Oct. 27, 2015–Peters, Andy
HUD plans to sell about $1.3 billion of nonperforming residential loans next month.
Wall Street Journal, Oct. 27, 2015–Grant, Peter
Morgan Stanley wrapped up fundraising over the summer for its first higher-risk real-estate fund since 2007, a sign that it has finally recovered from the downturn. The new global fund has attracted $1.7 billion in commitments from investors such as CIC and Australia’s sovereign-wealth fund.
Wall Street Journal, Oct. 27, 2015–Kusisto, Laura
Brookfield Property Partners is making its first venture into Brooklyn, buying a majority stake in two planned apartment towers on the New York City borough’s waterfront, the company said.
HousingWire, Oct. 27, 2015–Lane, Ben
Anthony Albanese, acting superintendent of the New York Department of Financial Services will step down later this year, amidst rumors of tension between the NYDFS and the office of New York Governor Andrew Cuomo.
Bloomberg, Oct. 27, 2015–Torres, Craig
Six million people working part time, along with more than 600,000 who are so discouraged that they’ve stopped looking for work, give Federal Reserve officials pause about raising key interest rates.
Bloomberg, Oct. 27, 2015–Kawa, Luke
The Federal Reserve’s economic forecasts and much discussed dot plot might be a source of more confusion than clarity, according to HSBC Strategist Lawrence Dyer.
National Mortgage News, Oct. 27, 2015–Collins, Brian
HUD staff are working on a revision to the agency’s condo rule and “we anticipate a rulemaking process,” HUD Secretary Julian Castro said this week.
Wall Street Journal, Oct. 28, 2015–Wei, Lingling; Karmin, Craig
At least three big Chinese companies are competing to win Beijing’s approval to bid for Starwood Hotels & Resorts Worldwide Inc., according to people with knowledge of the discussions, setting the stage for what could be the largest-ever Chinese takeover of a U.S. company.
