Category: Top National News

HousingWire, July 26, 2018–Kelsey RamirezOcwen Financial continues to lose money, posting yet another loss, however the company pointed out that the losses continue to grow smaller, though this one was still larger-than-expected by some.

Mortgage Daily, July 26, 2018Radian Group Inc. swung to a big profit from a quarterly loss a year previous. New policies written increased, the book of business expanded and delinquency decreased.

Bloomberg, July 25, 2018–Elizabeth DexheimerRep. Maxine Waters, D-Calif., said fixing Fannie Mae and Freddie Mac would top her list of priorities if Democrats take control of the House in this year’s mid-term elections and she becomes leader of the Financial Services Committee next year.

National Mortgage News, July 25, 2018–Elina Tarkazikis (subscription)A “technical snag” stands to “orphan” a subset of VA loans by excluding them from Ginnie Mae securities, according to Dan Fichtler, director of housing finance policy at the Mortgage Bankers Association.

American Banker, July 25, 2018–Kate Berry (subscription)Allied Progress, a nonprofit advocacy group, said in a lawsuit that it is seeking to compel the agencies to respond to a June Freedom of Information Act request seeking documents on Kathleen Kraninger’s record in government.

National Mortgage News, July 25, 2018–Kate Berry (subscription)During the first seven months of Mulvaney’s tenure, the CFPB had issued just one enforcement action, handing out the largest bank fine ever against Wells Fargo for failures in its auto lending and mortgage businesses. But since mid-June, the bureau has averaged about one public enforcement action a week.

Mortgage Daily, July 25, 2018Mortgage servicing rights are being offered on 14,102 Ginnie Mae loans that had an aggregate unpaid principal balance of $3.607 billion as of June 29.

American Banker, July 24, 2018–Hannah Lang (subscription)Michael Bright, President Trump’s nominee to head Ginnie Mae appeared to distance himself Tuesday from a 2016 paper he co-wrote on reforming the housing finance system, telling senators that he “hasn’t thought about that paper in two years.”

HousingWire, July 24, 2018–Kelsey RamirezWhile FICO and VantageScore have been locked into an intense competition while the FHFA makes its decision, they both agreed on one thing–the postponement is disappointing.

Mortgage Daily, July 24, 2018Black Knight noted improvement last month in U.S. foreclosure metrics, the rate of 30-day delinquency on residential loans climbed to the highest level in four months.