Mortgage Daily, Aug. 9, 2017–Sam GarciaWhile some mortgage acquisitions have recently closed, one fell through just hours before it was supposed to be consummated. One company that was set to close down is back in business.
Category: Top National News
Aug. 9, 2007: The Day the Mortgage Crisis Went Global
Wall Street Journal, Aug. 9, 2017–Colin Barr (subscription)Ten years ago oday, the first glimpses of the global financial crisis came into view.
PHH to pay $75M False Claims Act Settlement with DOJ
National Mortgage News, Aug. 8, 2017–Brad Finkelstein (subscription)PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on mortgages insured by the Federal Housing Administration and Department of Veterans Affairs, as well as loans sold to Fannie Mae and Freddie Mac.
Life Insurers Smell Opportunity in CRE, Multifamily Lending
American Banker, Aug. 1, 2017–Laura Alix (subscription)Life insurance companies are trying to chip away at banks’ dominant market share in commercial real estate lending, the Mortgage Bankers Association said.
Freddie Mac Second Quarter Net Income Declines to $1.7 Billion
HousingWire, Aug. 1, 2017–Brena SwansonFreddie Mac’s financial results remained steady in the second quarter, as it reported net income of $1.7 billion for the second quarter, slightly down from net income of $2.2 billion for the first quarter.
Freddie Expects to Double Low Down Payment Mortgage Volume in ’17
National Mortgage News, Aug. 1, 2017–Bonnie Sinnock (subscription)When the government-sponsored enterprises began purchasing mortgages with down payments as low as 3%, there was concern that Fannie Mae and Freddie Mac would expose themselves to greater credit risk.
New 10-Yr Low for Fannie’s Mortgage Delinquency
Mortgage Daily, Aug. 1, 2017Residential loan performance at Fannie Mae was the best it’s been in almost a decade. New business was also better.
Radian: New Mortgage Insurance Written Surges 43 Percent in Second Quarter
HousingWire, Aug. 1, 2017–Brena SwansonDespite recording a net loss for the second quarter, private mortgage insurer Radian Group managed to report a strong quarter for new mortgage insurance written.
Goldman Sachs Reached $725 Million in Consumer Relief in $5 Billion Settlement
HousingWire, Aug. 1, 2017–Ben LaneGoldman Sachs recently moved past the 40% mark in its $1.8 billion consumer relief obligation that is part of the company’s $5 billion settlement reached in April 2016 over toxic mortgage bonds, the settlement’s monitor said in a new report.
Pullback Continues in the Investment Sales Market for Apartment Properties
National Real Estate Investor, Aug. 1, 2017–Bendix AndersonInvestors spent a lot less money on apartment properties so far this year compared to 2016, but prices in the sector keep rising anyway.