Category: Top National News

HousingWire, Mar. 6, 2019–Kelsey RamirezTalk of housing reform is heating up, and now several members of the housing industry (including the Mortgage Bankers Association) are encouraging the Federal Housing Finance Agency not to go too fast, and to make sure affordable housing remains a priority throughout the process.

American Banker, Mar. 6, 2019–Neil Haggerty (subscription)A day before Consumer Financial Protection Bureau Director Kathy Kraninger is set to testify to the House Financial Services Committee, House Democrats introduced legislation to undo efforts to weaken the agency by her predecessor, former acting Director Mick Mulvaney.

HousingWire, Mar. 6, 2019–Ben LaneOcwen Financial plans to reduce its overall workforce by more than 2,000 employees over the course of this year, as the nonbank moves to reduce its costs after its $360 million acquisition of PHH.

Tampa Bay Times, Mar. 7, 2019–Susan Taylor MartinFlorida officials used a federal fund designed to help struggling homeowners as a “deep pocket” for travel and stays in high-end hotels, a new report says. Between 2011 and 2016, officials of the Florida Housing Finance Corp. charged the Hardest Hit Fund all or part of the cost of attending conferences in San Diego, Orlando, Miami, Boston and Nashville, Tenn.

American Banker, Mar. 5, 2019–Rachel Witkowski (subscription)Senate Democrats sent a letter Tuesday asking the the Consumer Financial Protection Bureau to reinstate examinations of lenders for compliance with the Military Lending Act.

The Title Report, Mar. 5, 2019 (subscription)The New York Department of Financial Services wrote Fidelity National Financial Chief Compliance Officer Paul Perez on Jan. 31, detailing its response to the proposed acquisition of Stewart Title by FNF.

Wall Street Journal, March 4, 2019 –Jessica Menton (subsription)The Federal Reserve’s dovish tilt this year has been a boon for real estate shares that had been pressured by a threat of higher interest rates. Investors are scooping up REIT shares because of their large dividends and strong earnings growth.

Washington Post, Mar. 4, 2019–Tracy JanHousing and Urban Development Secretary Ben Carson says he intends to leave his post at the end of President Trump’s first term.

HousingWire, Mar. 4, 2019–Ben LaneGoldman Sachs recently surpassed the $1.25 billion mark in the $1.8 billion in customer relief the company is required to provide as part of its $5 billion settlement reached in April 2016 over toxic mortgage bonds.

National Mortgage News, Mar. 1, 2019–Elina Tarkaziks, Austin Kilgore (free article)Innovating for the borrower was a consistent theme during the MBA’s 2019 Mortgage Servicing Conference in Orlando, Fla. Whether through greater investments in technology and talent, or streamlining back-end processes to improve the consistency and speed of the decision-making process, servicers are doing more to prioritize borrowers in their businesses.