Category: Top National News

National Mortgage News, Feb. 12, 2018–John Heltman, Ian McKendry (subscription)The Trump administration’s 2019 budget highlights the administration’s goal of reining in the post-crisis regulatory apparatus, with proposed cuts for several agencies including the Consumer Financial Protection Bureau.

HousingWire, Feb. 12, 2018–Ben Lane”If there is one way to summarize the strategic changes occurring at the bureau, it is this: we have committed to fulfill the bureau’s statutory responsibilities, but go no further,” Mulvaney said in a statement.

Bloomberg, Feb. 12, 2018–Joe LightIn its 2019 spending plan released Monday, the administration asked Congress to raise the fees Fannie and Freddie charge to back payments on mortgage-backed securities by 0.1 percentage point, a move it said would reduce the federal budget deficit by $25.7 billion over the next decade.

Mortgage Daily, Feb. 12, 2018The latest request for information from the Consumer Financial Protection Bureau marks the third in the past month as the Trump administration continues to reduce regulation on financial services providers.

HousingWire, Feb. 12, 2018–Ben LaneOtto Kumbar was, until last week, Ocwen’s executive vice president of lending, but Ocwen disclosed Monday that Kumbar’s position was eliminated “in connection with the company’s previously disclosed strategic assessment of its lending business.”

Mortgage Daily, Feb. 12, 2018Mortgage servicing rights are being offered on 4,263 Fannie Mae, Freddie Mac and Ginnie Mae loans with a collective unpaid principal balance of $773 million as of Dec. 29.

Bloomberg, Feb. 9, 2018–Robert Schmidt, Jesse HamiltonAs the 10th anniversary of the financial crisis approaches, many of the restrictions put in place to rein in Wall Street risk-taking are quietly being unwound.

HousingWire, Feb. 9, 2018–Joseph DeStasioThe author, who spoke at the recent MBA National Servicing Conference, says it’s time we change the conversation and recognize that people matter. Talented, happy team members create happy customers. And, when this focus is partnered with the right technology, the industry will finally be able to see some real change.

Wall Street Journal, Feb. 9, 2018–AnnaMaria Andriotis (subscription)Equifax said, in a document submitted to the Senate Banking Committee and reviewed by The Wall Street Journal, that cyberthieves accessed records across numerous tables in its systems that included such data as tax identification numbers, email addresses and drivers’ license information beyond the license numbers it originally disclosed.

HousingWire, Feb. 9, 2018–Ben LaneWith the bankruptcy now in the rearview mirror, Walter Investment is changing its name to Ditech Holding Corp., adopting the name of its prominent subsidiary Ditech Financial.