National Mortgage News, Apr. 24, 2017–Kate Berry (subscription)President Trump and Consumer Financial Protection Bureau Director Richard Cordray appear locked in a game of chicken over his continued leadership of the agency.
Category: Top National News
Will Trump End Reverse Mortgages?
OurBroker.com, Apr. 24, 2017–Peter G. MillerReverse mortgages are in trouble. It’s fair to say that reverse mortgages could well be gone under the Trump Administration.
Fraud Risk Increases Nationwide
DS News, Apr. 24, 2017–Seth WelbornMortgage fraud risk is up across the country, according to the CoreLogic National Mortgage Application Fraud Risk Index for the first quarter.
Impac Raises $56M in Plan to Securitize Non-QM Loans
National Mortgage News, Apr. 19,2017–Brad Finkelstein (subscription)Impac Mortgage Holdings sold $56 million of its common stock as part of a plan to securitize non-qualified mortgage loans.
Trump Eyes Repeal-and-Replace Strategy for Dodd-Frank
National Mortgage News, Apr. 11, 2017–John Heltman (subscription)President Trump on Tuesday reiterated his pledge to roll back the Dodd-Frank Act and replace it with “something else,” although the prospects of such a legislative overhaul remain remote.
Business Slows at PRMI
Mortgage Daily, Apr. 11, 2017Home-lending activity slowed on a quarter-over-quarter basis at Primary Residential Mortgage Inc., though year-over-year production held up.
Office Tower on Billionaires’ Row Snags a Low-Rate Loan
Wall Street Journal, Apr. 11, 2017–Peter Grant (subscription)Carnegie Hall Tower, the Manhattan office skyscraper that helped shore up the finances of the fabled concert hall, refinanced its debt with a $325 million loan from Metropolitan Life Insurance.
Commercial Lenders Brace for Damage from Retail Plunge
National Mortgage News, Apr. 11, 2017–Andy Peters (subscription)A litany of bankruptcies among retailers has many lenders on edge as they and others try to predict how much damage it could do to bank earnings–and how soon.
Republicans Propose Drastic Overhaul of Dodd-Frank and CFPB
HousingWire, Apr. 12, 2017–Brena SwansonFollowing through on promises made by President Donald Trump, leading Congressional Republicans unveiled a new replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new proposal goes further than previous Republican efforts to overhaul Dodd-Frank.
Waters: Republican Proposal to Overhaul Dodd-Frank Kills Most Important Parts
HousingWire, Apr. 12, 2017–Brena SwansonRep. Maxine Waters, D-Calif., ranking member of the Committee on Financial Services and one of the biggest defenders of the Consumer Financial Protection Bureau, said, “The so-called Financial Choice Act is a piece of legislation that will essentially kill the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was designed to prevent another financial crisis.”