Category: Top National News

DS News, Mar. 13, 2018–David WhartonAccording to New View Advisors, a financial services advisory firm, issuers of home-equity conversion mortgage-backed securities sold 129 pools in February, totaling $1.47 billion. That made for the second-highest month on record.

HousingWire, Mar, 9, 2018–Tom MillonFor years, fans of non-QM loans have been claiming that this year is the year the market will take off. It’s happening once again this year, and it’s difficult to separate the reality from the hype.

Mortgage Daily, Mar. 9, 2018Dozens of positions in the Lone Star State have been eliminated by Wells Fargo & Co. The affected employees work in mortgage servicing.

National Mortgage News, Mar. 8, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau’s final rule gives mortgage servicers a temporary exemption, for a single statement period, from certain timing requirements in sending periodic statements to borrowers entering and exiting bankruptcy. The rule is a technical revision to the CFPB’s 2016 mortgage servicing rule.

HousingWire, Mar. 8, 2018–Ben LaneMortgage servicers are about to have “more latitude” when it comes to dealing with borrowers entering or exiting bankruptcy, the Consumer Financial Protection Bureau announced Thursday.

Bloomberg, Mar. 8, 2018–Tiffany KaryLehman Brothers Holdings Inc.’s bankruptcy estate will pay $2.38 billion to compensate for its role in the previous decade’s mortgage crisis, a federal judge decided, far less than the $11.4 billion some hedge funds had sought.

Mortgage Daily, Mar. 8, 2018A delinquent borrower has paid for a billboard in Wilmington, North Carolina, in his effort to avoid a foreclosure on his delinquent loan with SunTrust Mortgage Inc.

National Mortgage News, Mar. 7, 2018–Kate Berry (subscription)If acting Consumer Financial Protection Bureau Director Mick Mulvaney has his way, his agency would effectively become a backup regulator, ceding authority over virtually every firm for which it has jurisdiction to other state and federal authorities.

National Mortgage News, Mar. 7, 2018–Brad Finkelstein (subscription)The success of the government-sponsored enterprises’ credit risk transfer programs shows that they can be the basis for housing finance reform. But there are still steps that can be taken to maximize secondary market liquidity and broaden the investor bases, according to a paper co-written by Annaly Capital Management and the Federal Reserve Bank of New York.

Bloomberg, Mar. 7, 2018–Erik Larson, Greg FarrellRoyal Bank of Scotland Group Plc agreed to pay $500 million to settle New York’s probe into its marketing of toxic mortgage-backed securities that triggered the financial crisis, moving the government-owned lender a step closer to resolving a series of costly U.S. investigations.