National Mortgage News, Aug. 1, 2018–Brad Finkelstein (subscription)Arch MI U.S. returned to having the No. 1 market share among private mortgage insurers as it increased its new insurance written 15% over the previous year.
Category: Top National News
Flood Insurance Extension Approved
Mortgage Daily, July 31, 2018″This will protect residential and commercial real estate markets from potential harm, and provide stability for those that sell and administer the policies to millions of Americans,” said Mortgage Bankers Association President and CEO David Stevens.
Freddie Mac Reports Income of $2.4 Billion in Q2
HousingWire, July 31, 2018–Kelsey RammirezThis income is up slightly from the first quarter this year, when the company reported comprehensive income of $2.2 billion, and up even more from the second quarter of 2017, when it saw a comprehensive income of $2 billion.
Genworth M.I. Business, Earnings Jump
Mortgage Daily, Aug. 1, 2018Quarterly business increased at Genworth Mortgage Insurance Corp., as did earnings. In addition, the book of business expanded, and delinquency was sharply lower.
Former Equifax Manager Admits to Profiting Off of Data Breach
HousingWire, July 30, 2018–Ben LaneAccording to the Department of Justice, Sudhakar Reddy Bonthu pleaded last week to a charge of insider trading that stemmed from purchasing options in advance of Equifax’s public disclosure of its data breach.
Legal Industry Scores Victory over CFPB in Debt Collection Battle
National Mortgage News, July 27, 2018–Kate Berry (subscription)A recent court ruling has dealt a blow to efforts by the Consumer Financial Protection Bureau to limit law firms’ involvement in the debt collection process.
How Some Young People are Getting Mortgages Despite Student Loan Debt
Newsday (N.Y.), July 29, 2018–Sheryl Nance-NashThere’s much buzz about how young people are graduating with so much student loan debt that they are foregoing rites of passage like moving out and buying cars. But some are marching forward with mortgages.
The Crisis Isn’t Over
American Banker, July 30, 2018–Victoria Finkle (subscription)Ten years after the financial crisis, the regulatory pendulum appears to have swung firmly in banks’ direction. But scratch beneath the surface and the crisis remains surprisingly relevant in the national political debate today–and the memory of the damage it did poses a greater threat than many bankers would like to admit.
Seven Contenders to Become Next FHFA Chief
National Mortgage News, July 26, 2018–Hannah Long (subscription)The next director of the FHFA is still a mystery, but whoever succeeds current Director Mel Watt once his term ends in January will have a front-and-center role in efforts to reform the government-sponsored enterprises.
Wells Fargo Explores Sale of Real-Estate Broker Eastdil
Wall Street Journal, July 26, 2018–Craig Karmin, Dana Mattioli, Emily Glazer (subscription)The San Francisco bank has been sounding out private-equity firms to drum up interest in the real-estate brokerage and investment bank, sources said. Wells Fargo bought Eastdil in 1999 for an undisclosed sum in an effort to bolster its commercial real-estate-lending business.