Reuters, Oct. 6, 2017–Jessica DiNapoli, Tracy RucinskiAn unexpected helping hand from creditors, landlords and vendors is allowing more U.S. retailers to stay in business following bankruptcy with most of their stores and employees in the fold.
Category: Top National News
Trump Outlines Sweeping Reform of Capital Markets
Reuters, Oct. 6, 2017–Michelle Price, Pete SchroederThe U.S. Treasury on Friday unveiled a blueprint for sweeping reforms of the U.S. capital markets as it looks to implement Republican President Donald Trump’s agenda to promote economic growth by slashing red tape.
Bipartisan Push Begins in Congress to Change Parts of CFPB’s Trid Rule
HousingWire, Oct. 6, 2017–Ben LaneCongressmen from opposite sides of the political aisle are partnering to push for a change to the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosure rule.
Why More Millennials with Student Debt are Qualifying for Mortgages
National Mortgage News, Oct. 6, 2017–Laura Alix (subscription)A recent push by Fannie Mae to enable more millennials who are burdened by student debt to buy homes appears to be having its intended effect. Bankers said that they are finding it easier to qualify young homebuyers as a result of the policy changes.
OneMain, Citigroup’s Former Subprime Lender, Fields Takeover Bids
Wall Street Journal, Oct. 8, 2017–Liz Hoffman, Rachel Louise Ensign (subscription)OneMain is in advanced discussions with a number of interested parties, both rival lenders and private-equity firms.
In Aftermath of Hurricanes, FEMA’s Slow Flood Mapping Leaves Homeowners Vulnerable
The Hill, Oct. 9, 2017–Alison SpannThe Federal Emergency Management Agency has delayed decisions on flood zone determinations–in some cases by two years or more–and currently has more than 240 mapping projects on hold, the department’s inspector general warned in a report dated Sept. 27.
Mortgage Fraud is on the Rise, And Here’s What that Means to You
Miami Herald, Oct. 9, 2017–Kenneth R. HarneyFraud in connection with home mortgages is on the rise, ranging from little white lies about the intended use of the property all the way up to much more sophisticated schemes.
Former Reverse Mortgage Giant Sold
Mortgage Daily, Oct. 9, 2017An agreement has been reached to sell Financial Freedom to an undisclosed buyer, parent CIT Bank said.
Commercial and Multifamily Mortgage Delinquency Rates Remain Flat
National Mortgage Professional, Sept. 26, 2017–Phil HallDelinquency rates for commercial and multifamily mortgages were mostly stagnant during the second quarter, according to new data from the Mortgage Bankers Association.
Trying to Stem Fallout From Breach, Equifax Replaces CEO
New York Times, Sept. 26, 2017–Ron Lieber, Stacy CowleyRichard Smith is out as Equifax CEO. The shake-up is the culmination of weeks of mounting public and legal pressure on the Atlanta-based data clearinghouse from citizens, politicians and investors.