National Mortgage News, Feb. 5, 2020–Brad Finkelstein (subscription)The U.S. mortgage business remained a bright spot for Genworth Financial, whose fourth quarter adjusted operating income increased by 29 percent.https://www.nationalmortgagenews.com/news/genworths-u-s-mortgage-insurance-business-nearly-doubles-in-4q19
Category: Top National News
Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Wall Street Journal, Feb. 5, 2020–Leslie Scism (subscription)Property-and-casualty insurance giants Chubb Ltd. and Allstate Corp. posted strong profit gains in the fourth quarter, thanks to fewer catastrophe claims and premium …
JPMorgan Mulls Return to FHA-Backed Mortgages After Era of Fines
American Banker, Feb. 5, 2020FHA insured $215 billion in loans last year, representing more than 11% of mortgages issued in the U.S., according to HUD. Banks can use the loans …
Survey Tracks Debt Burdens in the 2020s
National Mortgage Professional, Feb. 4, 2020–Phil HallWe might be traveling deeper into a new decade, but many Americans are carrying over too much debt from the previous 10-year stretch, according …
Home-Loan Banks May Soon Channel Funds to More Mortgage Players
Wall Street Journal, Feb. 4, 2020–Andrew Ackerman (MBA mention; subscription)Regulator weighs letting $1.1 trillion network of government-chartered cooperatives, founded to support community lenders, expand to nonbank firms and real estate …
FHFA Redefining Itself Ahead of GSE Overhaul
National Mortgage News–Hannah LangWith policymakers focused on ending Fannie Mae and Freddie Mac’s conservatorship, their regulator is reorganizing key units and adding staff to position itself for the long term. …
Growing the Role of Non-Bank Lenders
MReport, Feb. 4, 2020–Seth Welborn“It’s time to make the system reflect the market that it serves,” said Pete Mills, SVP of residential policy at the Mortgage Bankers Association.https://themreport.com/daily-dose/02-04-2020/growing-the-role-of-non-bank-lenders
FHFA Names Advisor for Massive IPO of Fannie Mae and Freddie Mac
HousingWire, Feb. 3, 2020–Kathleen HowleyThe Federal Housing Finance Agency said on Monday Houlihan Lokey Capital will create a “roadmap” that will include business and capital structures, market impacts and timing …
Tearing Up CFPB’s Mortgage Underwriting Rule is the Easy Part
American Banker, Feb. 2, 2020–Kate Berry (subscription)Now that the Consumer Financial Protection Bureau has vowed to remove an unpopular measure of loan affordability in its mortgage underwriting rule, the million-dollar …
The Value of Warehouse Lenders in the Mortgage Market
HousingWire, Jan. 31, 2020–Mike DunlapThe author, an MBA member and CEO of Merchants Bank of Indiana, says while the share of independent mortgage banks has grown in recent years, misconceptions …