The Lede
Top National News
Top U.S. Commercial, Multifamily Mortgage Servicers Revealed by MBA
World Property Journal, Sept. 13, 2016--Rachid, Monsef
Wells Fargo Bank N.A. with $502.2 billion in U.S. master and primary servicing, leads servicer rankings.
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House Republicans Pass Dodd-Frank Overhaul
Scotsman Guide, Sept. 13, 2016--Whitman, Victor
H.R. 5983, the Financial CHOICE Act, passed along party lines in the House Financial Services Committee.
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Regions to Pay $52.4 Million to Settle FHA-Insured Mortgage Matters
Wall Street Journal, Sept. 13, 2016--Stynes, Tess
Arrangement settles previously disclosed government probe.
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Foreclosure Inventory at Nine-Year Low
National Mortgage Professional, Sept. 13, 2016--Hall, Phil
Inventory plummets 29 percent from year ago, CoreLogic said.
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Startup Offers to Buy Home Equity, Instead of Lending Against It
National Mortgage News, Sept. 13, 2016--Wack, Kevin
Fintech startup Point is allows consumers sell a piece of their home equity to investors, rather than borrowing against the value of their houses.
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CFPB Reform ‘Dead on Arrival’ Thanks to Wells Fargo
American Banker, Sept. 13, 2016--Blackwell, Rob; McKendry, Ian
House Democrats said $185 million judgment against lending giant "clinched" case against Republican-led effort to reform Consumer Financial Protection Bureau.
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U.S. Households’ Income Shows Biggest Jump Since Recession
Bloomberg, Sept. 13, 2016--Jamrisko, Michelle; Laya, Patricia
Job gains boosted wages as labor market stays strong, Census Bureau said.
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U.S. Budget Deficit Expands in August
Wall Street Journal, Sept. 13, 2016--Mitchell, Josh
Monthly shortfall of $107 billion; deficit grows 25% from a year earlier.
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Atlanta Fed President Lockhart to Step Down in February
Bloomberg, Sept. 13, 2016--Matthews, Steve
Federal Reserve Bank of Atlanta President Dennis Lockhart will step down in February, creating a vacancy while the Fed is under pressure to recruit more diverse leadership.
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Mortgage Executives Recruited, Promoted
Mortgage Daily, Sept. 13, 2016--Garcia, Sam
Recent executive appointments.
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MGIC Eases Credit Score Requirements
Mortgage Daily, Sept. 13, 2016
Changes to lending requirements at MGIC will make it easier for some applicants with limited credit to qualify for a mortgage.
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Spitzer’s Trial Against Hank Greenberg Finally Begins
Wall Street Journal, Sept. 13, 2016--Scism, Leslie
The former AIG CEO's trial gets under way 11 years after Elliott Spitzer, New York Attorney General at the time, filed suit.
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Housing Market Moves More Toward Buying: Economists
National Mortgage News, Sept. 13, 2016--Passy, Jacob
Slowdown in the upward climb of home prices allowed the housing market as a whole to move more toward buying a home.
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Wells Fargo CEO Headed to Senate Hot Seat for Account Scandal
HousingWire, Sept. 13, 2016--Lane, Ben
CEO John Stumpf expected to appear before Senate Banking Committee Sept. 20.
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Commercial/Multifamily News
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MBA Education Intermediate & Advanced Underwriting Scenarios Webinar Today
Understand Guidelines, Benefits of Due Diligence
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