Category: Top National News

National Mortgage News, July 5, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau plans to issue guidance later this summer on how it will give community banks partial exemptions from Home Mortgage Disclosure Act requirements.

HousingWire, July 5, 2018–Ben LaneFor the third time this year, the Royal Bank of Scotland is about to pay up over the bank’s mortgage practices in the run-up to the housing crisis.

Mortgage Daily, July 5, 2018It’s been more than a decade since the production of new federally insured reverse mortgages came in as low as it did last month.

American Banker, July 3, 2018–Paul Davis (subscription)The $6.9 billion-asset company said in a press release Tuesday it will sell the rights to service about $5 billion in unpaid balances for single-family mortgages. It did not identify the buyer or disclose the price of the deal.

Wall Street Journal, July 3, 2018–Craig Karmin, Keiko Morris (subscription)Katara Hospitality, which buys and manages hotels around the world for the Qatar government, has acquired full ownership of the 1907 property for $600 million.

National Mortgage News, July 3, 2018–Brad Finkelstein (subscription)Fannie Mae and Freddie Mac enjoy considerable market advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete with the government-sponsored enterprises.

National Mortgage Professional, July 2, 2018–Phil HallKathy Kraninger, President Trump’s choice to serve as the next Director of the Consumer Financial Protection Bureau, will receive a confirmation hearing before the Senate Banking Committee on July 19.

Wall Street Journal, July 2, 2018–Michael Rapoport (subscription)PricewaterhouseCoopers LLP must pay $625.3 million in damages for failing to catch a fraud scheme that helped cause one of the biggest bank failures of the financial crisis, involving Colonial Bank in Alabama, a federal judge ruled Monday.

National Mortgage News, July 2, 2018–Brad Finkelstein (subscription)The number of nonbank mortgage lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state’s Department of Business Oversight.

HousingWire, July 2, 2018–Kelsey RamirezThe Federal Reserve announced Monday that it is extending the stress test filing deadline by one year for some of the nation’s largest banks.