National Mortgage News, Sept, 28, 2018–Brad Finkelstein, Bonnie Sinnock (subscription)Bryan R. Ziegenfuse, who previously was a vice president of servicing at Ocwen, agreed to pay $128,130 plus interest, double the profits he made from the three transactions. He did not admit or deny wrongdoing.
Category: Top National News
Commercial/Mortgage Debt Outstanding Up in Q2
National Mortgage Professional, Sept. 27, 2018–Phil HallCommercial and multifamily mortgage debt outstanding swelled by $52.3 billion in the second quarter, according to new data from the Mortgage Bankers Association. The second quarter was 1.6 above the first quarter’s debt outstanding.
Fannie Mae, Freddie Mac Tighten Capital Rules for PMI Companies
National Mortgage News, Sept. 27, 2018–Brad Finkelstein (subscription)Fannie Mae and Freddie Mac issued new capital requirements for private mortgage insurers that will create big swings in carriers’ asset reserves.
CFPB Report on Data Collection is Silent on Threat of Breaches
National Mortgage News, Sept. 26, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau this week issued a report and a request for information as part of an effort to assess the effectiveness of how data is collected, used and reused.
Freddie to Buy Shared Equity Mortgages
Mortgage Daily, Sept. 26, 2018In an effort to support homeownership in low-to mid-income markets, Freddie Mac will join its secondary mortgage cousin in purchasing shared-equity mortgages.
Sandler Law Group Buys Out McGlinchey Stafford Youngblood and Associates
HousingWire, Sept. 26, 2018–Jeremiah JensenSandler Law Group, a Texas-based firm that specializes in residential mortgages and owner of Asurity Technologies, acquired McGlinchey Stafford & Youngblood and Associates, a closing and fulfillment services provider for the mortgage lending industry.
loanDepot, AMC Settle Claims of Discrimination
Mortgage Daily, Sept. 25, 2018loanDepot.com LLC and an appraisal management company have reached an agreement to settle claims that borrowers were discriminated against because their properties were located on Indian reservations.
Tax Reform Could Spell Trouble for Low-Income Affordable Housing
National Mortgage News, Sept. 25, 2018–Elina Tarkazikis (subscription)Lower corporate tax rates weakened the incentive for developers to use the Low-Income Housing Tax Credit program, which could prompt affordable housing construction to fall by as much as 40% by 2022, according to data aggregator Reis.
10 Years After Lehman: This Time It’s Different
IPE Real Assets Magazine, Sept. 25, 2018–Christopher O’DeaReal estate investors learned painful lessons 10 years ago. With signs of a correction yet to materialize, can the market escape a repeat of 2008?
Mortgage Delinquencies Fall to 12-Year Low, But Effects of Florence Loom
National Mortgage News, Sept. 24 2018–Paul Centopani (subscription)The mortgage delinquency rate dropped to its lowest level in over 12 years, but servicers should expect an increase following the impact of Hurricane Florence, according to Black Knight.