Wall Street Journal, July 11, 2017–Esther Fung (subscription)Grocery chain expansions are likely to spark robust construction in the coming years, analysts said, bucking the overall trend in retail development.
Category: Top National News
MBA Responds to Calls for Comments on CFPB’s Servicing Rule
HousingWire, July 12, 2017–Kelsey RamirezThe Consumer Financial Protection Bureau asked earlier this year for comments from the real estate finance industry on the effectiveness of its 2013 Mortgage Servicing Rule. This week, the Mortgage Bankers Association responded to the request.
RBS to Pay $5.5 Billion to Resolve Major U.S. Mortgage Probe
Reuters, July 12, 2017–Andrew MacAskill, Jonathan StempelThe Edinburgh-based lender on Wednesday said it agreed to settle the lawsuit with the Federal Housing Finance Agency that accuses it of mis-selling $32 billion of mortgage-backed securities before the global financial crisis.
Pimco Sues Wells Fargo over Crisis-Era Mortgage Bonds
Financial Times, July 12, 2017–Joe Rennison (subscription) Wells Fargo has been sued by Pimco for withholding money allegedly owed to bond investors, in a dispute that could have implications for billions of dollars still locked up in US mortgage securities created before the financial crisis.
A Big Deal in Nonprime Mortgages Proves Leery Investors are Finally Hungry Again
CNBC, July 12, 2017–Diana OlickAngel Oak is one of very few firms offering these private-label mortgage-backed securities – the ones that were so very popular during the last housing boom and which were later blamed for the financial crisis.
Fannie Mae Cuts Mortgage Modification Interest Rate Again
HousingWire, July 12, 2017–Ben LaneFor the second time in 2017, Fannie Mae is lowering the benchmark interest rate for standard mortgage modifications.
Blockchain: What Is It and Why Should Mortgage Lenders Care?
Mortgage Orb, July 12, 2017–Jason NadeauThere’s a reason that so few people have a firm grasp on what blockchain technology is and does. It’s because it is not just one thing, and understanding its different uses can be complicated.
Flow GSE Offering for MSRs On at Least $720 Mil
Mortgage Daily, July 12, 2017The co-issue flow offering is for MSRs on between $60 million and $90 million per month in Fannie Mae and Freddie Mac residential loans.
U.S. Mortgage Quality Improves, But Foreclosures on the Rise
Reuters, July 13, 2017–Pete SchroederMore Americans were keeping up with their mortgages at the beginning of 2017 but the number of foreclosures is also on the rise, the Office of the Comptroller of the Currency said.
Here’s How Mortgage Portfolios at the Big Banks Performed in First Quarter 2017
HousingWire, July 13, 2017–Brena SwansonThe seven national banks include: Bank of America, Citibank, HSBC, JPMorgan Chase, PNC, U.S. Bank and Wells Fargo.