Category: Top National News

HousingWire, Apr. 2, 2019–Jessica GuerinThe Office of the Comptroller of the Currency said Maryann Kennedy will oversee the nearly 800 staff members who supervise the nation’s largest banks and federal branches and agencies, which hold more than $10 trillion in total consolidated assets.

National Mortgage News, Mar. 29, 2019–Brad Finkelstein (subscription)Income-related mortgage application fraud risk holds potential to increase among rising buyer competition during the peak spring season, First American said.

HousingWire, Mar. 29, 2019–Ben LaneThe settlement brings an end to a lawsuit filed by the state against the nonbank back in May 2017. The lawsuit came on the heels of a sweeping round of sanctions placed on Ocwen by more than 30 other states over alleged escrow and other mortgage servicing issues.

HousingWire, Mar. 28, 2019The Mortgage Bankers Association commended President Trump for championing change that would foster competition in real estate finance and protect taxpayers.”We are heartened the memorandum recognizes the GSEs should be released from conservatorship only after specified reforms, and that it insists on other core principles such as preserving the 30-year fixed-rate mortgage and leveling the playing field for lenders of all sizes,” said MBA President and CEO Robert Broeksmit.

Bloomberg, Mar. 28, 2019–Christopher MaloneyA spike in home loan refinancing, falling mortgage rates and newer collateral sporting prepayment red flags have increased prepayment concerns among mortgage-backed securities investors. (MBA mention)

National Mortgage News, Mar. 28, 2019–Hannah Lang, Rachel Witkowski (subscription)The Federal Housing Finance Agency is planning to finalize its proposed capital requirements for the government-sponsored enterprises this summer, according to acting Director Joseph Otting.

HousingWire, Mar. 28, 2019–Jessica GuerinPresident Trump’s memorandum directs HUD Secretary Ben Carson and his team to develop a legislative reform plan that achieves the agency’s objective to maintain the financial soundness of the reverse mortgage program.

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.