Category: Top National News

Reuters, May 12, 2017–Andrew MacAskillRoyal Bank of Scotland Chief Executive Ross McEwan said the bank is in talks to settle one of the two major U.S. investigations into allegations it mis-sold mortgage-backed securities that it needs to overcome before the British government can sell its shares in the bailed-out bank.

Bloomberg, May 11, 2017–Matt Robinson, Christian Berthelsen, Chris Dolmetsch, Matt ScullyU.S. prosecutors are investigating one of Wall Street’s darkest markets, focusing on hedge funds suspected of inflating the value of debt securities in their portfolios to juice the fees they collect.

Bloomberg, May 9, 2017–Christopher CondonPlans by Republican lawmakers and the Trump administration to reform government-backed mortgage companies could lead to a “significant shock” to the market for multi-family commercial real estate, said Federal Reserve Bank of Boston President Eric Rosengren.

HousingWire, May 9, 2017–Kelsey RamirezIn short, Ocwen accuses Radian of not paying up on more than 9,000 defaulted mortgages; Radian is saying the claims are meritless.

Morning Consult, May 15, 2017–Ryan RaineyDavid Stevens, chief executive of the Washington-based Mortgage Bankers Association, said Federal Housing Finance Agency Director Mel Watt could face political blowback if he takes independent action to protect the capital buffer. That, in turn, could lead to uncertainty, which could also cause markets, or Congress, to fret.

HousingWire, May 15, 2017–Brena SwansonWith a steady stream of enforcement actions and regulations coming out of the Consumer Financial Protection Bureau over the years, the industry doesn’t take the possible threat of getting a violation lightly. And one big company currently drumming up a lot of questions for lenders is Zillow.

Bloomberg, May 15, 2017–Sonali Basak, Katherine ChiglinskyBrian Duperreault, who took over as chief executive officer of American International Group Inc. on Monday, said he’s not planning to split up the company as some activists have urged.

Mortgage Daily, May 15, 2017Separate complaints were filed Monday in U.S. District Court for the Southern District of New York against James H. Im and Kee Chan.

Mortgage Daily, May 15, 2017Genworth Mortgage Insurance has loosened loan-to-value ratios and jumbo guidelines on some programs.

National Real Estate Investor, May 10, 2017-Beth Mattson-TeigLenders chasing higher yields have crowded into the bridge lending space. And borrowers are cashing in on that competition with more favorable rates, and in some cases, more aggressive underwriting.