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.
Category: Top National News
N.Y. Judge Arrested for Mortgage Fraud
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.
Sale of Reverse Mortgages With Deceased Borrowers
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.
Why Repealing Dodd-Frank Will Fail
Mortgage Orb, June 9, 2017–Peter G. MillerThe complete demolition of both Dodd-Frank and the Consumer Financial Protection Bureau is unlikely if only because there are large numbers of representatives and senators who represent rural and underserved areas.
Does Anyone Remember How to Make a Subprime Mortgage?
Wall Street Journal, June 12, 2017–Kirsten Grind (subscription)Brokers willing to learn the lost art of making risky mortgages are in demand again.
Trump Administration to Call for Curbs on Consumer-Finance Regulator
Wall Street Journal, June 12, 2017–Ryan Tracy (subscription)The Trump administration will recommend limits on the U.S. consumer-finance regulator and a reassessment of a broad range of banking rules in a report to be released as early as Monday.
Supreme Court Sides with Banks in Debt Servicing Case
National Mortgage News, June 12, 2017–John Heltman (subscription)Banks and other firms collecting defaulted debt originated by another company are not subject to the kinds of restrictions placed on third-party debt collectors, the Supreme Court ruled Monday in a unanimous decision.
Trump Administration Says Financial Watchdog Agency Should Be Defanged
New York Times, June 12, 2017–Alan Rappeport, Matthew GoldsteinIn a report released late Monday, the Treasury Department said the Consumer Financial Protection Bureau should be substantially stripped of its powers, accusing the agency of regulatory overreach and saying the president should be able to remove its director.
RBS Nearing $4.5 Billion Settlement Over Mortgage-Backed Securities Sales
The Street, June 12, 2017–Kinsey GrantRoyal Bank of Scotland Group PLC is in advanced negotiations with the Federal Housing Finance Agency to cut a deal related to the 2008 sale of toxic mortgage bonds to U.S. government-backed loan firms Fannie Mae and Freddie Mac.
These Cities Have Too Many Stores, and They’re Still Building
Bloomberg, June 12, 2017–Patrick Clark, Dorothy GambrellAcross the U.S., retail real estate development that outpaced demand marked the early years of the new millennium. Now retailers are going bankrupt at a record rate, and hedge funds are betting against the commercial mortgages used to finance mall properties.