National Mortgage News, Nov. 25, 2019–Christopher WhelanTo make the vision of a larger market for private mortgages a reality, the industry needs to address the issue of trustee duties in …
Category: Top National News
The Death of The Mortgage Broker Has Been Greatly Exaggerated
Mortgage News Daily, Nov. 20, 2019–Jann SwansonMortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for …
Fed Won’t Move on CRA Reform this Year: Otting (subscription)
American Banker, Nov. 20, 2019–Brendan PedersenThe Federal Reserve will not move with other regulators this year to modernize the Community Reinvestment Act, according to Comptroller of the Currency Joseph Otting.https://www.americanbanker.com/news/federal-reserve-wont-move-on-cra-this-year-otting
Fed Adds $103.65 Billion to Financial System (subscription)
Wall Street Journal, Nov. 21, 2019–Michael S. DerbyThe Federal Reserve Bank of New York added $103.65 billion in temporary liquidity to the financial system on Thursday. The intervention came via …
Disaster Coverage Is a Disaster for Most
UExpress, Nov. 22, 2019–Lew SichelmanMany — if not most — homeowners aren’t prepared for a flood, tornado or other natural disaster. And neither, apparently, are their insurance companies.https://www.uexpress.com/housing-scene/2019/11/22/disaster-coverage-is-a-disaster-for
Freddie Mac Sell $22 Million in Non-Performing Loans
HousingWire, Nov. 22, 2019–Kelsey RamirezThe 87 loans were serviced by Specialized Loan Servicing, and transferred to VRMTG ACQ, a minority and woman-owned business. It was part of Freddie Mac’s Extended …
5 Questions for Former GSE Regulator Armando Falcon (subscription)
National Mortgage News, Nov. 22, 2019–Brad FinkelsteinMortgage lending is closer than ever to having a truly paperless process, according to Armando Falcon, a former regulator who is currently consulting with …
CFPB Highlights Bank/Nonbank Split in Servicer Size Tiers (subscription)
National Mortgage News, Nov. 22, 2019–Bonnie SinnockThe nonbank share of large mortgage servicing is growing, but smaller players tend to be depositories, the Consumer Financial Protection Bureau found in a …
House Dems Call on HUD to Rescind Changes to Disparate Impact Standard (subscription)
American Banker, Nov. 22, 2019–Neil HaggertyIn a scathing letter to HUD Secretary Ben Carson Friday, all of the Democrats on the House Financial Services Committee called on the department to …
Lenders Brace for Private-Equity Loan Defaults (subscription)
Wall Street Journal, Nov. 22, 2019–Matt WirzThe default risk of companies owned by private-equity firms is 2.5 times that of their public counterparts, according to data collected from banks, insurers …