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Hudson City Settles Discriminatory Lending Charges for About $33 Million
Wall Street Journal, Sept. 24, 2015--Beilfuss, Lisa Hudson City Bancorp Inc. will pay almost $33 million to resolve claims that it engaged in discriminatory mortgage lending practices, the latest example of how the government is increasingly scrutinizing banks and other lenders for patterns of discrimination.
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Global Watchdog Seeks Deal on Ending ‘Too Big to Fail’ Banks
Reuters, Sept. 24, 2015--Jones, Huw Global regulators meet in London on Friday to agree a rule on stopping banks being "too big to fail" by requiring them to hold enough equity capital and bonds to avoid taxpayers being called on in a crisis.
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Mortgage Rates Decline After Fed Punts on Rate Hike
HousingWire, Sept. 24, 2015--Garrison, Trey Average fixed mortgage rates declined following the Federal Reserve's decision to defer a hike in the Federal funds rate, according to Freddie Mac.
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New Home Sales Soar Amid Low Interest Rates
RTT News, Sept. 24, 2015 U.S. new home sales continued to surge in August, as buyers took advantage of low interest rates and better employment.
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Q2 2015 U.S. Banking Review: Third-Party Mortgage Servicing Portfolios
Forbes, Sept. 24, 2015--Team, Trefis The country's largest banks have been wary of adding mortgages not originated by them to their balance sheets, with the banks reporting another sequential reduction in their third-party mortgage servicing portfolios in Q2 2015.
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Mortgage Servicer Ocwen to Cut U.S. Workforce by 10 Pct
Reuters, Sept. 24, 2015--Varadhan, Sudarshan Mortgage servicer Ocwen Financial Corp said it would cut 300 jobs, about 10 percent of its U.S. workforce, in Waterloo, Iowa to save costs.
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Real-Estate ‘Pocket Listings’ Go Mainstream
Wall Street Journal, Sept. 24, 2015--Mitchell, Josh Pocket listings-also known as "whisper" and "coming soon" listings-have been popular for years among celebrities and the wealthy seeking to shield their privacy. But they are increasingly used by a broader segment as the housing market heats up and inventory remains tight.
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New Statistics Offer a Different View of Millennial Homebuyers
National Mortgage Professional, Sept. 24, 2015--Hall, Phil The popular belief that Millennials are intentionally avoiding homeownership appears to be a myth, according to new research.
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We Still Aren’t Sure What Will Cause Janet Yellen to Pull the Trigger
Bloomberg, Sept. 24, 2015--Duy, Timothy A. The effectiveness of the Federal Reserve's communication strategy is clearly questionable when the outcome of a Federal Open Market Committee meeting is considered a coin toss among economists who closely follow monetary policy.
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U.S. Business Spending Plans Measure Slips in August
Reuters, Sept. 24, 2015--Lange, Jason A gauge of U.S. business investment plans fell slightly in August while the number of Americans filing new applications for jobless benefits barely rose last week, signs that global economic headwinds were doing little to impede U.S. growth.
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