Category: Top National News

Reuters, Dec. 10, 2018–Dena AubinJPMorgan Chase Bank must face a lawsuit by California mortgage borrowers accusing it of violating state law by not paying interest on mortgage escrow accounts, a federal judge in San Francisco ruled on Friday.

HousingWire, Dec. 7, 2018–Ben LaneDelinquency rates on commercial and multifamily mortgages stayed nearly historic lows during the third quarter, the Mortgage Bankers Association reported this week.

Business Observer, Dec. 7, 2018Banks nationwide, by a big margin in some cases, are slowing down commercial real estate lending in most property categories.

National Mortgage Professional, Dec. 7, 2018–Phil HallMoody’s Investors Service is forecasting a strong level of credit quality and performance of residential mortgage-backed securities in 2019, although the level of strength will be slightly weaker compared to this year.

National Mortgage Professional, Dec. 6, 2018–Phil HallThe National Flood Insurance Program was extended through Dec. 21 as part of Congress’ two-week extension for the federal government’s funding deadline.

American Banker, Dec. 6, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau ordered Village Capital & Investment, a nonbank mortgage lender in Henderson, Nev., to issue refunds and pay a fine for allegedly misleading veterans about refinancing their mortgages.

HousingWire, Dec. 6, 2018–Ben LaneWells Fargo will pay more than $17 million to a series of Illinois pension funds after settling with the state over the bank’s “misconduct in its marketing and sale of risky residential mortgage-backed securities leading up to the 2008 economic collapse,” Illinois Attorney General Lisa Madigan announced.

American Banker, Dec. 5, 2018–Kate Berry (subscription)There is already intense focus on how the Democratic-run House Financial Services Committee may shine a spotlight on Trump administration-appointed regulators. But that light might shine brightest on one agency in particular: the Consumer Financial Protection Bureau.

National Mortgage News, Dec. 5, 2018–Lynn M. Fisher, Edward J. Pinto (subscription)American Enterprise Institute economists warn if the economy were to experience a downturn or worse in the next few years, home prices, which have boomed over the last six years, will surely realize a price correction and foreclosure rates could increase “dramatically.”

Scotsman Guide, Dec. 4, 2018–Victor WhitmanThe delinquency rate on commercial/multifamily loans held by major investor classes remained exceptionally low in the third quarter, according to the Mortgage Bankers Association.