Category: Top National News

American Banker, Mar. 11, 2019–Blaine Luetkemeyer (free article)The author, a Democrat from Missouri on the House Financial Services Committee, says the Current Expected Credit Loss standard proposed by the Financial Accounting Standards Board threatens to eliminate some lending services and restrict access to credit, particularly for low-income families.

HousingWire, Mar. 8, 2019–Ben LaneAccording to newly released data from the Mortgage Bankers Association, delinquency rates on commercial and multifamily mortgages remained near historic lows during the fourth quarter, just as they did all year.

National Mortgage News, Mar. 10, 2019–Hannah Lang (subscription)Despite recent speculation that the White House and Federal Housing Finance Agency were planning a dramatic shake-up of Fannie Mae and Freddie Mac, observers say the nominee poised to run the FHFA will have a more targeted agenda on the job.

Wall Street Journal, Mar. 9, 2019–Ben Eisen (subscription)Private investors are directly buying a small but growing share of loans that have long been the domain of Fannie Mae and Freddie Mac, a sign of the changing dynamics in the $11 trillion mortgage industry.

National Mortgage Professional, Mar. 7, 2019–Phil HallCommercial and multifamily mortgage delinquencies stayed at their rock-bottom levels during the fourth quarter of 2018, according to data from the Mortgage Bankers Association.

HousingWire, Mar. 7, 2019–Kelsey RamirezThe hearing went as anyone would expect–Democrats criticized Consumer Financial Protection Burea Director Kathy Kraninger’s actions and looked back on actions taken by former Acting Director Mick Mulvaney, while Republicans asked questions that confirmed their view that the CFPB has too much power and that Congress should act to change the structure.

National Mortgage News, Mar. 7, 2019–Bonnie Sinnock (subscription)Mr. Cooper Group took a net loss of $136 million in the fourth quarter of 2018 after lower rates hit the mark-to-market fair value of its mortgage servicing rights portfolio harder than its peers.

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.