Category: Top National News

American Banker, June 8, 2018–Kate Berry (subscription)Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, said Friday that the agency fired more than 60 members of three advisory boards because the boards were simply too big. Mulvaney also said he wants some future advisory board meetings to be held in private because he fears information will be leaked to the media.

Mortgage Daily, June 8, 2018PHH Corp. is celebrating the Consumer Financial Protection Bureau’s dismissal of a closely watched case involving alleged violations of the Real Estate Settlement Procedures Act.

HousingWire, June 8, 2018–Kelsey RamirezTrepp, a provider of data, analytics and technology to the global securities and investment management industries, is predicting most, if not all, of the nation’s 38 largest banks will past this year’s test, despite the harsher test.

Mortgage Daily, June 6, 2018The Mortgage Bankers Association said although mortgage bankers pushed up quarterly revenues, rising expenses resulting from slowing originations dragged them into the red. Wholesale lenders suffered the most.

Mortgage News Daily, June 6, 2018–Jann SwansonThe Mortgage Bankers Association said on Wednesday that independent mortgage banks and mortgage subsidiaries of chartered banks reported net production losses in the first quarter of 2018, for only the second time since MBA began tracking the data in 2008.

CNN, June 6, 2018–Matt EganAngelo Mozilo of Countrywide Financial got rich selling the American Dream. Then he became the face of America’s mortgage nightmare.

HousingWire, June 6, 2018–Jeremiah JensenActing Director of the Consumer Financial Protection Bureau Mick Mulvaney gutted three CFPB Advisory Boards today. The Consumer Advisory Board, Community Bank Advisory Council, and the Credit Union Advisory Council were all disbanded.

CNBC, June 4, 2018–Diana OlickHurricane season has begun and it looks like it will weigh on the housing market.

National Mortgage News, June 4, 2018–Elina Tarkazikis (subscription)Historically, mortgage delinquencies in the month of April have risen 85% of the time, but April 2018 bucked that trend as they fell, according to Black Knight.

Forbes, June 4, 2018–Brad Thomas CoStar Managing Director Hans Nordby said publicly traded real estate investment trusts are “substantially” cheaper than private real estate. “Clearly, there is a disconnect. Either REITs are too cheap, which could represent a buying opportunity, or conversely, private real estate could be too expensive, in which case property owners would be well served to sell, to avoid losses.”