Category: Top National News

National Mortgage News, Oct. 26, 2017–Kate Berry (subscription)The stunning defeat of the Consumer Financial Protection Bureau’s arbitration rule didn’t have to happen. That was the message from critics and former agency officials who say the bureau erred in how it designed the final rule, putting too much emphasis on class action litigation as a panacea for consumers.

Bloomberg, Oct. 27, 2017–Stephen MorrisBarclays Plc and the U.S. Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement.

New York Times, Oct. 27, 2017–Gretchen MorgensenWhen they announced the $5.28 billion deal, prosecutors cited it as evidence that the United States government can and will ride herd on large financial institutions if they engage in misconduct. A little more than six months later, it’s worth asking: How tough, really, was the settlement on Credit Suisse?

Mortgage Daily, Oct. 27, 2017Changes being made by Radian Guaranty Inc. will make it easier to qualify for jumbo mortgages, loans for medical professionals and transactions with alternative downpayment sources.

Wall Street Journal, Oct. 28, 2017–Michael Rapoport, AnnaMaria Andriotis (subscription)Attorneys general in at least five states are looking into why credit-reporting firm Equifax Inc. didn’t tell the public for nearly six weeks about the massive data breach that potentially compromised the personal information of 145.5 million Americans.

Bloomberg, Oct. 30, 2017–Sarah MulhollandTo draw consumers with experiences they can’t find online, retail-property owners are slashing the amount of space dedicated to stores and are spending on everything from hotels and apartments to upscale restaurants and skating rinks.

National Mortgage News, Oct. 30, 2017–Brian Collins (subscription)The Consumer Financial Protection Bureau has launched a new mortgage performance tool that tracks delinquencies on mortgage loans down to the county level.

HousingWire, Oct. 30, 2017–Ben LaneConsumer Financial Protection Bureau Director Richard Cordray took an extraordinary step on Monday, pleading directly with President Donald Trump in a last-ditch effort to save the Bureau’s controversial arbitration rule.

Mortgage Daily, Oct. 30, 2017–Sam GarciaAs interest rates continue to drift higher, an acceleration of layoffs in real estate finance is taking place. Two companies are closing their mortgage divisions.

Chicago Tribune, Oct. 24, 2017–Kenneth HarneyThe political jostling and frenetic lobbying on Capitol Hill over the Republican tax overhaul bill are producing unexpected developments that could prove important to homeowners, sellers and buyers.