UExpress, Sept. 22, 2017–Lew SichelmanDivorce is never easy. And when real estate is involved, it can get downright exhausting.
Category: Top National News
Are You Ready for the GSEs’ New UCD Mandate?
HousingWire, Sept. 22, 2017–David ParkerFannie Mae and Freddie Mac’s Uniform Closing Dataset requirement deadline of Sept. 25 is mere days away.
Bankruptcy Ruling Benefits Foreclosing Parties
Mortgage Daily, Sept. 22, 2017–Laura N. Coughlin, T. Robert FinlayThe 9th Circuit Court of Appeals has barred claims due to the borrower’s failure to amend include the claims in their bankruptcy schedules.
Judge Says Texas Mortgage Companies Owe $296.3 Mln to U.S. Government
Reuters, Sept. 19, 2017–Jonathan StempelA federal judge ordered Allied Home Mortgage Corp, Allied Home Mortgage Capital Corp and Chief Executive Jim Hodge to pay $296.3 million to the U.S. government after a jury found them liable for inducing the government into insuring risky home loans, the U.S. Department of Justice said on Tuesday.
Equifax Breach Sparks Congressional Free-for-All
National Mortgage News, Sept. 12, 2017–Ian McKendry, John Heltman (subscription)A mishmash of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.
Houston’s Unsinkable Housing Market Undaunted by Storm
New York Times, Sept. 12, 2017–Annie Correal, Conor DoughertyMost Houston buyers are keeping deals on track, builders are expected to barrel ahead and owners of elevated homes may find their properties more valuable.
Former Deutsche Bank Head Subprime Mortgage Trader Fires Back at U.S. Fraud Charges
HousingWire, Sept. 12, 2017–Ben LanePaul Mangione, the former head of subprime mortgage trading at Deutsche Bank who stands accused over overseeing systemic mortgage bond fraud during the run-up to the financial crisis, says that the government kowtowed to public pressure to see individuals held responsible for the financial crisis by filing lawsuit against him that is wrong, unfair and without merit.
MBA White Paper Considers Changes to CFPB Operating Procedures
National Mortgage Professional, Sept. 13, 2017–Phil HallThe Mortgage Bankers Association is considering the future of the Consumer Financial Protection Bureau with a new white paper, “CFPB 2.0: Advancing Consumer Protection,” which was prepared for the trade group by law firm Covington and Burling.
Refinance Outlook Raised by Mortgage Bankers
Mortgage Daily, Sept. 13, 2017The Mortgage Bankers Association said single-family loan originations are expected to reach $465 billion. Lending activity is then expected to fall to $370 billion in the fourth quarter.
Harvey’s Hit to Mortgages Could Be Four Times Worse than Predicted–And then There’s Irma
CNBC, Sept. 13, 2017–Diana OlickNew estimates suggest as many as 300,000 borrowers could become delinquent on their loans and 160,000 could become seriously delinquent, that is, more than 90 days past due, when banks initiate foreclosure proceedings.