National Mortgage Professional, Nov. 21, 2017–Phil HallThe Mortgage Bankers Association’s (MBA) Mortgage Action Alliance called for industry professionals to lobby on behalf of S. 2155, The Economic Growth, Regulatory Relief and Consumer Protection Act.
Category: Top National News
CFPB Approves Redesigned Mortgage Application
Mortgage Daily, Nov. 21, 2017The Consumer Financial Protection Bureau approved a redesigned Uniform Residential Loan Application to be used by Fannie Mae and Freddie Mac.
PHH vs. CFPB: Cordray Won’t Be Around to See the Outcome of the Case
HousingWire, Nov. 21, 2017–Brena SwansonThe case questions whether the structure of the CFPB is unconstitutional, with PHH arguing that the bureau’s director has too much power and that the bureau operates without supervision or oversight.
Hurricanes Drive October’s Increase in Late Mortgage Payments
National Mortgage News, Nov. 21, 2017–Brad Finkelstein (subscription)Late payments from borrowers living in areas hardest hit by Hurricanes Harvey and Irma were responsible for October’s increase in loan delinquencies, said Black Knight.
Ocwen Announces Millions in New Mortgage Debt Forgiveness in Ohio
DS News, Nov. 21, 2017–David WhartonFinancial services holding company Ocwen announced in November that it had worked closely with various nonprofit agencies to forgive $14.6 million in mortgage debt for struggling Ohio homeowners.
CFPB’s English Sues Trump Administration to Block Mulvaney Appointment
American Banker, Nov. 26, 2017–Kate Berry (subscription)Leandra English, the deputy director of the Consumer Financial Protection Bureau, sued the Trump administration late Sunday to block the appointment of Office of Management and Budget Director Mick Mulvaney as interim director of the consumer agency.
Safe as Houses? Both GOP Tax Bills Undermine the Mortgage Interest Deduction
Washington Examiner, Nov. 26, 2017–Joseph LawlerWhatever happens with Republican tax reform, the mortgage interest deduction is in trouble.
Equifax Breach Already Taking a Toll on Consumers
Washington Post Writers Group, Nov. 25, 2017–Kenneth R. HarneyThe scenario that personal finance and credit experts feared most about the heist of consumer data from Equifax already may be underway.
October’s Servicing Transfers Sink
Mortgage Daily, Nov. 22, 2017Servicing transfers last month tumbled from September as a result of a massive sale the previous month by the home-lending unit of Citigroup Inc.
Wholesaler, M.I. Firm Capitalize on Mobile Trend
Mortgage Daily, Nov. 14, 2017–Sam GarciaAs mobile adoption grows at a robust pace, a wholesale mortgage lender and a mortgage insurance company have positioned themselves to capitalize on the trend.