HousingWire, May 1, 2019–Jacob GaffneyICE is the parent company of the New York Stock Exchange and is also a provider of data and listings services; Simplifile operates one of the largest networks connecting the agents and jurisdictions that underpin residential mortgage records.
Category: Top National News
Fannie Mae’s CECL Remedy May Include More Risk-Sharing
National Mortgage News, May 1, 2019–Bonnie Sinnock (subscription)Fannie Mae is considering sharing more risk with the private sector to offset the pressure that the implementation of the Current Expected Credit Loss accounting standard could put on its earnings.
New York Launches its Own ‘Mini-CFPB’
American Banker, Apr. 30, 2019–Kate Berry (subscription)New York has created a statewide financial protection division that will focus solely on corporate compliance and consumer issues, following similar efforts by New Jersey and Pennsylvania.
Critics Fear Shift at CFPB Will Let Firms Off the Hook
American Banker, Apr. 29, 2019–Kate Berry (subscription)By refocusing the Consumer Financial Protection Bureau on supervision instead of enforcement, Director Kathy Kraninger says she wants to prevent consumer harm. But skeptics say the new approach could have the opposite effect.
CFPB Announces Debt Collection Town Hall as it Preps New Proposal
National Mortgage News, APr. 29, 2019–Kate Berry (subscription)The Consumer Financial Protection Bureau is poised to unveil a regulatory proposal by as early as next week on how it plans to reform oversight of debt collectors.
Commercial Mortgages Put into Special Servicing Increased in 2018
National Mortgage News, Apr. 29, 2019–Brad Finkelstein (subscription)Commercial mortgages placed into special servicing grew last year, but default and foreclosure dollar volume fell as legacy loan resolutions outpaced newly distressed loans, according to Fitch Ratings.
Mortgage Fraud Risk Rises for Ninth Consecutive Quarter
24/7 Wall Street, Apr. 29, 2019–Paul AusickThe national mortgage application fraud risk index rose from 151 to 152 quarter over quarter in the first quarter, according to researchers at CoreLogic.
Waters’ CFPB Bill Being Readied for House Consideration
National Mortgage Professional, Apr. 26, 2019–Phil HallThe House may soon vote on a bill introduced by Financial Services Committee Chairwoman Maxine Waters, D-Calif., that would roll back changes to the Consumer Financial Protection Bureau introduced during Mick Mulvaney’s term as Acting Director.
Urban Institute Urges CFPB to Release More Data on Multifamily Lendng
HousingWire, Apr. 26, 2019–Jessica GuerinThe Urban Institute said vague reporting of Home Mortgage Disclosure Act data is a roadblock that prevents analysts from understanding how well a lender is serving its community.
Boomerang Buyers: More People Who Lost Homes During Housing Crisis Are Buying Again
USA Today, Apr. 25, 2019–Paul DavidsonThere are signs a growing number of Americans who lost homes to foreclosure or a short sale during the housing crisis are buying again or planning to do so in the near future. Home price increases have moderated since last year and mortgage rates have fallen as wage growth has accelerated, creating a positive backdrop for boomerang and other buyers, said MBA Chief Economist Mike Fratantoni.