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.
Category: Top National News
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.
Bayview Purchasing Pingora Loan Servicing Platform
National Mortgage News, July 13, 2017–Elina Tarkazikis (subscription)Bayview Asset Management has entered into an agreement to acquire Pingora Holdings, an indirect subsidiary of Annaly Capital Management.
Wells Fargo Stuck Mortgage Borrowers with Extra Fees, Whistle-Blower’s Lawsuit Alleges
Los Angeles Times, July 14, 2017–James Rufus KorenA former Wells Fargo mortgage banker who worked in Beverly Hills alleged in a lawsuit this week that the bank falsified records so it could blame holdups on borrowers–and that it fired him for trying to report the practice.
HELOC Sale Done
Mortgage Daily, July 13, 2017Mortgage Industry Advisory Corp., which announced the $52 million sale Thursday, said it completed the sale through its whole-loan desk.
Chase’s Mortgage Servicing Down, Assets Up
Mortgage Daily, July 14, 2017While there was little change in quarterly mortgage originations at JPMorgan Chase & Co., the residential servicing portfolio declined as mortgage assets grew.
Ditech to Close Dallas-Area Office as Retrenchment Plan Takes Shape
National Mortgage News, July 14, 2017–Brad Finkelstein, Austin Kilgore (subscription)Walter Investment Management Corp. will close its Ditech subsidiary’s Irving, Texas, office by the end of 2017, as the nonbank lender and servicer continues restructuring efforts amid mounting losses.
The False Claims Act Has No Place in Housing
HousingWire, July 17, 2017–David StevensMBA President and CEO says use of FCA is an inappropriate and harmful response that only reduces access to credit for qualified borrowers, harming the entry level buyer and those on the lower end of home price ranges in America.