Category: Top National News

Mortgage Daily, June 13, 2017An opinion issued by the nation’s highest court in a case involving a defaulted car loan could impact interpretation of the Real Estate Settlement Procedures Act.

National Mortgage News, June 13, 2017–Ian McKendry (subscription)A key Republican lawmaker welcomed Treasury Department recommendations on how to reform financial regulations and expressed optimism that many of the suggestions could become law.

Wall Street Journal, June 13, 2017–Peter Grant; Richard Rubin (subscription)To finance a possible tax rate cut, some in Congress are eyeing the provision, which allows sellers to defer capital-gains taxes by reinvesting in other properties.

Fannie Mae, June 14, 2017–Mike HernandezFannie Mae vice president says industry must work harder to allow homeowner education to fit their needs.

Newsday, June 14, 2017–Maura McDermottFred and Theresa Tovar’s mortgage lender–originally Beneficial Homeowner Service Corp., and later U.S. Bank Trust N.A.–had until Friday to file a motion seeking permission to take the case to the state’s highest court, the Court of Appeals.

New York Times, June 14, 2017–Gretchen MorgensonA spokesman for Wells Fargo, Tom Goyda, said the bank strongly denied the claims made in the lawsuits and particularly disputed how the complaints characterized the bank’s actions.

National Mortgage News, June 16, 2017–Ian McKendry (subscription)A House Financial Services Committee report sharply criticizing the Consumer Financial Protection Bureau’s handling of the Wells Fargo phony-accounts scandal was biased and left out key information, according to Richard Cordray, the agency’s director.

HousingWire, June 16, 2017–Ben LaneIn Iowa Sen. Chuck Grassley’s words, the Obama administration used the practice “on multiple occasions to circumvent the congressional appropriations process by funneling money to politically active organizations and thereby effectively restore funding to organizations that Congress deliberately defunded.”

Mortgage Daily, June 16, 2017Radian Guaranty Inc. has increased the allowable maximum loan-to-value ratio on some of its mortgage insurance products.

HousingWire, June 16, 2017–Kelsey RamirezEconomists are saying the drop in housing starts could intensify in the months ahead as building permits also saw a drop in May.