Bloomberg, May 21, 2018–Benjamin Bain, Jesse Hamilton (subscription)In their coming overhaul, the Federal Reserve and other regulators are expected to address Wall Street’s grievances against the Volcker Rule on hedging against losses.
Category: Top National News
MBA: Mortgage Delinquencies Down in Q1
HousingWire, May 17, 2018–Jeremiah JensenAccording to the Mortgage Bankers Association, foreclosures are up slightly despite delinquencies falling to pre-housing crisis lows and continuing to slide.
QM Revamp Could Mean Separate Rules for Banks, Internet Lenders
National Mortgage News, May 17, 2018–Kate Berry (subscription)Should regulators treat traditional banks and credit unions exactly the same as technology-driven lenders when vetting their mortgage underwriting standards? That is the central question to emerge following recent comments by acting Consumer Financial Protection Bureau Director Mick Mulvaney that the bureau may ease its Qualified Mortgage rule.
Fannie Mae Advocacy Ban Doesn’t Stop Lawyer From Pushing Views
Bloomberg, May 18, 2018–Joe LightFor nearly a decade, the Federal Housing Finance Agency has restricted Fannie Mae and Freddie Mac from trying to influence the raging debate over whether they should live or die. But despite those limits, Fannie Mae general counsel Brian Brooks has done just that over the past few months, quietly meeting with people inside and outside President Donald Trump’s administration.
Mortgages Outstanding Up Despite Origination Drop
Mortgage Daily, May 17, 2018As of March 31, there were $8.94 trillion in U.S. residential loans that were outstanding, according to data reported Thursday by the Federal Reserve Bank of New York.
Wall Street Landlords Are Firing Up Their Home-Buying Engines
Bloomberg, May 17, 2018–Patrick ClarkInstitutional investors bought more single-family rental homes in 2017 than in previous year, the first increase since 2013, according to data compiled by Amherst Holdings LLC.
Mortgage Delinquencies Show Improvement But Still Face Pressure
National Mortgage News, May 16, 2016–Bonnie Sinnock (subscription)Overall, seasonally adjusted delinquencies in the first quarter declined by 54 basis points from the previous quarter but were just 8 basis points lower than the same period in 2017, according to the Mortgage Bankers Association’s latest National Delinquency Survey.
From Overdraft to HMDA, Rulemaking Has New Look at Mulvaney’s CFPB
National Mortgage News, May 16, 2018–Kate Berry (subscription)Acting Consumer Financial Protection Bureau Director Mick Mulvaney has overhauled the agency’s spring agenda, dropping several long-time goals of his predecessor, including a rule on overdraft programs, checking accounts and student loan servicing.
Goldman Sachs Mortgage Relief Settlement Actions Near $1B
DS News, May 16, 2018–David WhartonGoldman Sachs is approaching the billion-dollar mark for mandated consumer-relief actions stemming from two mortgage-related settlement agreements with the Department of Justice and three states.
Freddie Mac Hires Former Discovery Executive to Head Compliance
National Mortgage News, May 15, 2018–Bonnie Sinnock (subscription)John Krenitsky is replacing retiring CCO Carol Wambeke, who was originally named senior vice president and chief compliance officer at Freddie Mac during a major reorganization at the government-sponsored enterprise in 2011.