Category: Top National News

HousingWire, May 8, 2017–Brena SwansonThe Commonwealth Court of Pennsylvania, by a majority opinion, ruled in MERS’ favor in four lawsuits filed by the Recorders of four Pennsylvania Counties (Delaware, Berks, Bucks and Chester), locking in another victory for the company.

Reuters, May 8, 2017–Olivia Oran, Pete SchroederThe U.S. government’s review of a landmark 2010 financial reform law will not be complete by early June as originally targeted, and officials will now report findings piece-by-piece, with priority given to banking regulations.

National Mortgage News, May 8, 2017–Kate Berry (subscription)Fannie Mae and Freddie Mac issued proposals Monday to create pilot programs for loans on mobile homes, part of an ambitious federal effort to find creative solutions for underserved and rural housing markets.

National Mortgage News, May 8, 2017–Brad Finkelstein (subscription)It’s been nine years since the first of three major failures of private mortgage insurance carriers during the financial crisis, the result of widespread foreclosures that decimated capital reserves across the entire business.

Milwaukee Journal Sentinel, May 8, 2017–Paul GoresGuaranty Bank, unable to ever recover from devastating loan losses stemming from the housing and foreclosure crisis, failed and was shut down by regulators Friday.

Mortgage Professional America, Apr. 25, 2017–Anna SobrevinasThe Mortgage Bankers Association released a detailed plan for GSE reform, calling for more private capital, multiple guarantors and a new federally backed insurance fund.

HousingWire, Apr. 25, 2017–Ben LaneOcwen said last week that it intended to fight back against the state regulators’ accusations and business restrictions, and the company did just that on Tuesday, announcing that it is taking the regulators in Massachusests and Illinois to court to fight for its ability to operate within the states.

Mortgage Daily, Apr. 25, 2017In March, 27,980 complaints were filed against U.S. financial service providers. Activity increased 7 percent from the previous month, the Consumer Financial Protection Burea said.

National Mortgage News, Apr. 25, 2017–Bonnie Sinnock (subscription)Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing similar proposals related to this goal.

HousingWire, Apr. 25, 2017–Ben LaneThe Office of the Comptroller of the Currency announced Tuesday that it is ordering U.S. Bank National Association to pay a civil penalty of $15 million for what it calls “bankruptcy filing violations” that occurred between 2009 and 2014.