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.
Category: Top National News
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.
Housing Finance Issues to Watch in 2019
Urban Institute, Dec. 27, 2018–Sheryl PardoKey issues being monitored by Urban Institute include affordable housing, government regulation under the Trump Administration, the new Congress and alternative credit scoring methodologies.
Brokers Get Ready to Dominate Reverse Mortgage Lending
HousingWire, Dec. 17, 2018–Jessica GuerinIt’s a tough time in mortgage lending right now, and although most lenders saw volume decline or increase marginally in the past year, broker shops appear to be thriving despite the downturn, which some credit to their flexibility and personal touch. Could the same be true for reverse mortgage brokers?
FHA Commissioner to Serve as HUD’s Acting No. 2
National Mortgage News, Dec. 17, 2018–Hannah Lang (subscription)Brian Montgomery, commissioner of the Federal Housing Administration, will serve as the acting No. 2 of the Department of Housing and Urban Development following the resignation of Deputy Secretary Pam Patenaude.
Will 2019 See a Boom in Home Equity Lending?
HousingWire, Dec. 17, 2018–Jessica GuerinCertain dynamics shaping the housing market have led the occasional forecaster to predict a pending boom home equity lending.
The Border Wall Fight is Killing Chances of Year-End Banking Reforms
American Banker, Dec. 14, 2018–Neil Haggerty (subscription)As the Trump administration tussles with congressional Democrats over border wall funding and the threat of a government shutdown looms, the budget battle has all but killed the chance of more financial services reforms before the end of the year.
Commercial and Multifamily Mortgage Debt Hit New Peak in Q3
National Mortgage Professional, Dec. 13, 2018–Phil HallCommercial and multifamily mortgage debt reached a new peak in the third quarter, according to data from the Mortgage Bankers Association.