The Lede
Top National News
Court Case Against the CFPB Hinges on These Four Issues
National Mortgage News, Apr. 11, 2016--Berry, Kate
The U.S. Court of Appeals for the D.C. Circuit will hear oral arguments Tuesday about the Consumer Financial Protection Bureau's structure, in a case that has national implications. Even though a ruling isn't expected until the end of the year, legal experts say there are four major legal issues involved.
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Goldman Sachs Resolves U.S. Mortgage Probe for $5.1 Billion
Bloomberg, Apr. 11, 2016--Schoenberg, Tom
Goldman Sachs Group Inc. will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving allegations that loans weren't properly vetted before being sold to investors as high-quality bonds.
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Mortgage Rates Dip to Annual Low: Will They Stick
CNBC, Apr. 11, 2016--Olick, Diana
When the Federal Reserve raised its interest rates late last year, most mortgage rate prognosticators saw it as a sure sign that home-loan rates would finally rise meaningfully. In fact, just the opposite has happened.
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Forget Flipping Houses–These Retail Investors Flip Mortgages
MarketWatch, Apr. 11, 2016--Riquier, Andrea
As government entities like Fannie Mae and Freddie Mac have struggled with the legacies of the housing bust, they've sold billions of dollars' of delinquent notes to big institutional investors, who resell them in turn.
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This is Why Customer Experience is Critical for Everyone
Housing Wire, Apr. 11, 2016--Boggs, Dennis
After several years of focusing almost exclusively on compliance, it was good to see that "customer experience" was back on the agenda at the Mortgage Bankers Association National Technology in Mortgage Banking Conference & Expo in Los Angeles last week.
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Lenders Awaiting Next Wave of Buyers
Chicago Tribune, Apr. 11, 2016--Sichelman, Lew
David Stevens, a former federal housing official who now leads the trade group Mortgage Bankers Association, said household formations will increase to about 1.6 million a year between 2015 and 2024, compared with the increase of 1.2 million a year between 2010 and 2014.
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Mortgage Credit Availability in U.S. Dips in March
World Property Journal, Apr. 11, 2016
The Mortgage Bankers Association reported mortgage credit availability decreased slightly in March.
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Mortgage REIT M&A? Approved
Bloomberg, Apr. 11, 2016--Tan, Gillian
Annaly Capital Management is buying Hatteras Financial, a smaller REIT that buys mortgage debt, in a cash-and-stock deal valued at $1.5 billion.
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This Is the Last Time to Get a Low-Rate Mortgage–Again
Wall Street Journal, Apr. 11, 2016--Light, Joe
Low mortgage rates will no doubt encourage more homeowners to refinance, giving a boon to mortgage lenders facing an uncertain housing market. But there are several reasons to doubt an upcoming refinance boomlet could turn into a full-fledged boom.
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PHH to Lose Origination, Servicing Business from B of A Merrill Lynch
National Mortgage News, Apr. 11, 2016--Peters, Andy
PHH Corp. in Mount Laurel, N.J., said its loan closing dollar volume will decrease this year, after Bank of America's Merrill Lynch announced plans to withdraw business from the firm.
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FHFA Should Have Oversight of Nonbank Mortgage Servicers: GAO
National Mortgage News, Apr. 11, 2016--Berry, Kate
Congress should consider giving direct authority over nonbank mortgage servicers to the Federal Housing Finance Agency, according to a report released Monday by the Government Accountability Office.
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