Category: Top National News

Mortgage Orb, Mar. 27, 2019–Patrick BarnardThe memorandum comes the same day numerous housing finance groups testified before the Senate Banking Committee on a proposed housing finance reform bill introduced by Chairman Mike Crapo, R-Idaho. “The housing finance system requires structural reforms that will ensure a stable, liquid secondary market to support a vibrant, diverse primary market, and comprehensive legislation is essential for such reforms,” said Robert D. Broeksmit, CMB, president and CEO of the Mortgage Bankers Association.

HousingWire, Mar. 27, 2019–Jessica Guerin, Ben LanePresident Donald Trump is officially calling for an end to the conservatorship of Fannie Mae and Freddie Mac, the White House said Wednesday.

HousingWire, Mar. 27, 2019–Kelsey RamirezIndependent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $200 for each loan they originated in the fourth quarter, according to the Quarterly Mortgage Bankers Performance Report released by the Mortgage Bankers Association.

American Banker, Mar. 27, 2019–Kate Berry (subscription)Assemblywoman Monique Limon, D-Santa Barbara, said Wednesday that California needs more consumer protection, either through the creation of a new agency similar to the federal Consumer Financial Protection Bureau, or by increasing the enforcement budget of the state’s Department of Business Oversight.

Bloomberg, Mar. 25, 2019–Editorial BoardMortgage servicing was a disaster in the last crisis. It still needs fixing.

National Mortgage News, Mar. 25, 2019–Paul Centopani (subscription)Consumers’ desire for a digitized mortgage process and increased data-privacy regulation force lenders into a race to keep up with evolving cybersecurity risks extending beyond their own operations.

HousingWire, Mar. 25, 2019–Caroline BasileA panel of multifamily and commercial real estate experts at the Mortgage Bankers Association’s 2019 Technology Solutions Conference in Dallas discussed the pros and cons of developing technology versus buying a solution or tool from a vendor.

HousingWire, Mar. 22, 2019–Ben LaneThe lawsuit was filed this week by the state of Pennsylvania, which claims that Bank of America; Barclays Capital; BNP Paribas; Citigroup; Credit Suisse; Deutsche Bank; Deutsche Bank Securities; First Tennessee Bank; FTN Financial Securities; Goldman Sachs; JPMorgan Chase; J.P. Morgan Securities; Merrill Lynch; and UBS Securities conspired to both overcharge and underpay investors on debt bonds issued by Fannie and Freddie between 2009 and 2014.

Bloomberg, Mar. 22, 2019–Christopher MaloneyMortgage securities may perform worse than government bonds in the coming months after the Federal Reserve said it plans to move more of its debt holdings into U.S. Treasuries.

Fox Business, Mar. 21, 2019Dolly Lenz, founder of Dolly Lenz Real Estate, and Michael Fratantoni, chief economist for the Mortgage Bankers Association, on the report that jumbo mortgages dropped 12 percent in dollar volume in 2018.