Category: Top National News

National Mortgage News, June 19, 2017–Brad Finkelstein (subscripition)PHH Corp. completed the sale of its Freddie Mac mortgage servicing rights portfolio to New Residential Corp. on June 16.

The Hill, June 8, 2017–Sylvan LaneSponsored by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, the CHOICE Act is the most ambitious Republican effort to roll back the Dodd-Frank Act, passed in 2010.

American Banker, June 8, 2017–Kate Berry (subscription)As the House moved Thursday to pass a sweeping regulatory reform bill, senators on both sides of the aisle paid lip service to offering relief to community banks and credit unions without offering many specifics over what might be included in their version.

Wall Street Journal, June 8, 2017–Rachel Witkowski (subscription)House lawmakers aim to pass legislation by July addressing how the nation handles flood insurance, a senior Republican said, setting up a regional battle in the Senate over how the federal government covers property damage after natural disasters.

Mortgage Daily, June 7, 2017Allegations by the Consumer Financial Protection Bureau that Fay Servicing LLC illegally moved forward with foreclosures on distressed borrowers who were actively seeking help have been settled.

National Mortgage News, June 7, 2017–Kate Berry (subscription)Many smaller companies that traditionally would have rolled over and settled with the agency appear emboldened to fight given the political and legal uncertainty hanging over the CFPB. Firms are hoping to get enforcement actions dismissed or, possibly, relief from the Trump administration.

U.S. News & World Report, June 7, 2017–Peter Tobias  There is a false narrative going around town about first-time homebuyers and it could be dangerous to the very group it purports to describe.

Commercial Observer, June 7, 2017–Guelda VoienWhen it comes to the matter of the government’s role in multifamily lending, it’s like having a record on repeat.

Times Herald-Record (N.Y.), June 7, 2017–Chris McKennaTown Justice Lurlyn Winchester was arrested Wednesday on charges that she made false statements to a mortgage lender and gave falsified documents to investigators, all to conceal that she lived in Rockland County and not in Monroe.

Mortgage Daily, June 8, 2017HUD is selling reverse mortgages where the original borrowers in the transactions have died. HUD is marketing mortgage pools that consist of approximately 885 reverse mortgages.