Wall Street Journal, Apr. 16, 2017–Nick Timiraos (subscription)The Federal Reserve is moving quickly to fill in the details of how it will wind down its securities holdings in the years ahead, a process that could start this year and become the next big challenge for investors grown accustomed to easy money from the world’s most important central bank.
Category: Top National News
Cash-Out Refinancings on the Rise, Just Like in 2008
Washington Post, Apr. 14, 2017–Kenneth R. HarneyThey’re either a valuable financial tool for homeowners or a harbinger of trouble on the horizon: Cash-out refinancings, which were wildly popular during the housing boom years and contributed to the severity of the crash, are on the rise again.
Over $1.6 Billion in GSE Loans Auctioned Off
Mortgage Daily, Apr. 14, 2017An investment banking firm has won its bid to acquire more than $1.6 billion in reperforming government-sponsored enterprise mortgages.
Oops! What if Flood Insurance Lapses?
Mortgage Compliance Magazine, Apr. 17, 2017No matter how or why lenders have required flood insurance on a property, if the flood insurance lapses during the term of the covered loan, it’s a problem.
CFPB Sues Ohio Law Firm for Illegal Debt Collection Practices
National Mortgage News, Apr. 17, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau filed a lawsuit Monday against Weltman, Weinberg & Reis for allegedly engaging in illegal debt collection practices after the firm said it refused to agree to a settlement.
Commercial Mortgages: Debt Funds Seek to Fill a Void
Richmond (Va.) Times-Dispatch, Apr. 17, 2017–Andrew Little Debt funds–non-bank lenders formed with contributed equity from institutional investors–are seeking to fill the void left as bank lenders have dialed back their leverage levels.
Big Opportunities in Alternative Mortgages for 2017
GoRion, Apr. 4, 2017–Mark FogartyAlternative mortgages will present investors a $150 billion minimum choice versus agency product in 2017, even if the overall origination market declines, according to one executive whose firm is starting to securitize non-QM loans.
Small Banks Need Reg Relief Fast, Says BofA’s Moynihan
National Mortgage News, Apr. 4, 2017–Ian McKendry (subscription)Although the Dodd-Frank Act made some positive changes, including requiring stress tests and giving government the power to unwind large banking companies, the weight of its regulations is killing small banks, Brian Moynihan, the CEO of Bank of America, said Tuesday.
Jamie Dimon Pushes for Simpler, More Coordinated Bank Regulations
Wall Street Journal, Apr. 4, 2017–Emily Glazer (subscription)J.P. Morgan Chase & Co. Chief James Dimon laid out his wishlist of regulatory changes in his annual shareholder letter Tuesday, calling for simpler and better coordinated rules that could help to spur more lending and in turn economic growth.
Window Closing for Republican Stealth Assault on U.S. Regulations
Reuters, Apr. 4, 2017–Lisa Lambert; Sarah N. LynchThe clock began running out this week on a strategy that has provided U.S. Republicans in Congress with their only notable legislative successes this year: aggressive use of an obscure U.S. law known as the Congressional Review Act.