Category: Top National News

American Banker, May 15, 2018–Rachel Witkowski (subscription)Consumer Financial Protection Bureau Acting Director Mick Mulvaney indicated Tuesday during a real estate convention that the rule, which took effect in 2013, painted all institutions with the same brush and needed to be reworked.

HousingWire, May 15, 2018–Ben LaneGinnie Mae has been without a permanent leader since January 2017, but that could soon change, as the Trump administration announced Tuesday that it is formally nominating Michael Bright to serve as president.

Mortgage Daily, May 15, 2018Genpact Mortgage Services announced more than 100 employees at its Richardson, Texas facility on May 1 that they had been laid off.

Bloomberg, May 16, 2018–Claire BostonIf the housing market weakens, and unemployment starts rising, mortgage bond investors could find their securities losing value, money managers warn.

Governing Magazine, May 14, 2018–J. Brian CharlesSome cities are turning to vacant property taxes to nudge property owners of both retail and residential spaces to lease, develop or sell their properties before a short-term vacancy turns into what some cities see as blight.

National Mortgage News, May 14, 2018–Bonnie Sinnock (subscription)Angel Oak Mortgage, which originated more than $1 billion in loans outside the ability-to-repay rule’s safe harbor last year, plans to produce at least twice that volume in 2018.

Bloomberg, May 15, 2018–Jesse Hamilton, Benjamin BainAdditional changes the regulators intend to propose include making it easier for banks to stockpile assets that their customers may want to buy in the near term and dialing back compliance burdens for smaller lenders. The agencies expect to release the proposal by the end of the month.

DS News, May 14, 2018–David WhartonSeveral lenders, including Wells Fargo and Bank of Hawaii, have announced mortgage relief for homeowners impacted by the disaster.

National Mortgage News, May 11, 2018–Bonnie Sinnock (subscription)Nationstar Mortgage may face a Consumer Financial Protection Bureau enforcement action over alleged violations of the Real Estate Settlement Act and other regulations, the Mr. Cooper parent company said.

UExpress, May 11, 2018–Lew SichelmanHome Equity Conversion Mortgages may be a good choice for some seniors who fear they might outlive their retirement funds and will need cash to enjoy their remaining years. But they aren’t the only options elder owners might want to consider.