Bloomberg, Jan. 7, 2019–Prashant GopalJames Stack, who predicted the 2008 real estate crash and nailed last year’s housing slowdown with uncanny timing, is back with some bad news for 2019.
Category: Top National News
New Aircraft, Beers on Hold as Businesses Feel Shutdown Pain
Bloomberg, Jan. 4, 2019–Jennifer A Dlouhy, Ari Natter, Alan LevinDecember and January are quiet months in the real estate industry, but “if this goes beyond another week, it’s going to delay closings,” said Pete Mills, senior vice president of policy at the Mortgage Bankers Association.
New CFPB Chief’s Memo to Staff: Enforce Law, But Don’t Presume Guilt
National Mortgage News, Jan. 3, 2019–Kate Berry (subscription)Kathy Kraninger, the director of the Consumer Financial Protection Bureau, said in an email to staff that the bureau will “vigorously enforce the law,” but also must weigh the “costs and benefits to consumers” of enforcement activities and rulemakings.
Will New Mortgage Regulators in D.C. Keep Your Home Safe?
Orange County Register (Calif.), Jan. 3, 2019–Jeff LazersonLet’s take a peek at the changing of the guard – that being the leadership at the Federal Housing Finance Agency or FHFA (Fannie Mae’s and Freddie Mac’s conservator and regulator), the Consumer Financial Protection Bureau (your mortgage police), Fannie and Freddie.
Mr. Cooper Buys IBM Platform that Brought in $200 Million Last Year
Dallas News, Jan. 4, 2019–Paul O’DonnellMr. Cooper Group Inc. is continuing to expand its mortgage servicing business with Thursday’s purchase of IBM’s Seterus platform.
BofA: Home Equity Lending Will be Flat in 2019
HousingWire, Jan. 3, 2019–Jessica GuerinWhile some market analysts predict an uptick in 2019 home equity lending, Bank of America’s David Doyle thinks otherwise.
Reverse Mortgage Servicer Celink Settles Lawsuit for $4.25 Million
HousingWire, Jan. 2, 2019–Jessica GuerinCelink settled a federal lawsuit regarding allegations that it violated the False Claims Act in relation to its servicing of reverse mortgage loans. The Michigan-based servicer agreed to shell out $4.25 million to resolve the matter.
How Self-Employed Home Buyers Successfully Get Mortgages
The Mortgage Reports, Jan. 2, 2018–Peter MillerThere has never been a better time for the self-employed to obtain real estate financing. That’s not just an idle observation. There are several reasons to support such thinking.
FEMA Reverses Course, Reinstates NFIP ‘Without Interruption’
Mortgage Orb, Dec. 28, 2018–Patrick BarnardFaced with fierce criticism for its decision, including from the Mortgage Bankers Association, FEMA on Friday reversed course, saying in a statement that “all NFIP insurers have been directed to resume normal operations immediately and advised that the program will be considered operational since December 21, 2018 without interruption.”
Equifax Is Back in Washington’s Crosshairs
Wall Street Journal, Jan. 1, 2019–Yuka Hayashi (subscription)The credit-reporting industry has largely escaped new oversight from Washington following the 2017 hack of Equifax Inc. that exposed the personal information of millions of Americans. That could change in 2019 when Democrats take over the House.