Category: Top National News

Wall Street Journal, June 10, 2019–Andrew Ackerman, Gabriel T. Rubin (subscription)Trump-appointed regulators came into office saying they would pare back Wall Street’s postcrisis rulebook. More than two years into the administration’s tenure, most of the work remains unfinished, particularly for the biggest banks.

Bloomberg, June 10, 2019–Saleha Mohsin, Austin WeinsteinTreasury Secretary Steven Mnuchin made clear that freeing Fannie Mae and Freddie Mac from U.S. control won’t happen without a major overhaul of the nation’s housing finance system, potentially dashing investors’ hopes that they might soon make a windfall from their stakes in the mortgage giants.

National Mortgage News, June 7, 2019–Hannah Lang (subscription)The Trump administration has said it welcomes legislative reform to fundamentally restructure Fannie Mae and Freddie Mac. But the Federal Housing Finance Agency has also made clear that it stands willing to do the heavy lifting itself.

National Mortgage Professional, June 6, 2019–Phil HallIndependent mortgage banks and mortgage subsidiaries of chartered banks saw an uptick in their profits during the first quarter, according to new data from the Mortgage Bankers Association.

National Mortgage News, June 6, 2019–Brad Finkelstein (subscription)The Mortgage Bankers Association created a template for originators to notify new borrowers when their adjustable-rate mortgage switches to a different index once publication of the London interbank offered rate discontinues.

HousingWire, June 6, 2019–Kathleen HowleyThe value of all U.S. owner-occupied homes increased to a record $26.1 trillion in the first quarter, according to a Federal Reserve report released Thursday known as the Flow of Funds.

National Mortgage Professional, June 5, 2019–Phil HallThe commercial mortgage-backed securities delinquency rate published by Trepp LLC hit another post-financial cross low in May, falling 16 basis points to 2.66 percent.

National Mortgage News, June 4, 2019–Hannah Lang (subscription)Enacting GSE reform faces a whole host of obstacles, not the least of which is a divided Congress, and the administration has signaled its desire to shake up Fannie Mae and Freddie Mac. But Rep. Lacy Clay, D-Mo., the chairman of the housing subcommittee, and Rep. Sean Duffy, R-Wis., the ranking member, agreed that congressional action was a priority.

American Banker, June 4, 2019–Penny Crosman (subscription)For the past four years, credit reporting has generated the most complaints in the Consumer Financial Protection Bureau’s complaint database. It makes up 43% of all grievances in the database, a jump from 23% in 2016, according to an analysis by the U.S. PIRG Education Fund.

The Hill, June 3, 2019–Juliegrace BrufkeThe House on Monday passed a $19.1 billion disaster relief package, finally sending legislation to the White House that had been repeatedly blocked by conservatives over the Memorial Day recess.