Mortgage Daily, Mar. 22, 2017Black Knight Financial Services reported for the third month in a row, the share of mortgages that were past due at least one month or in the foreclosure process has moved lower.
Category: Top National News
‘Bond King’ Jeff Gundlach Is Betting Big on the Mortgage Market
CNBC, Mar. 22, 2017–Tim MullaneyGundlach, CEO of DoubleLine Capital, is betting that the best way to play the coming rate hikes is by holding lots of mortgages, which comprise nearly 60 percent of the holdings of his exchange-traded fund Ticker.
Sears Has ‘Substantial Doubt’ That It Can Survive
CNN Money, Mar. 22, 2017–Chris IsidoreSears Holdings, the holding company for the two iconic retail brands–Sears and Kmart, warned investors late Tuesday that it can’t promise it will stay in business.http://money.cnn.com/2017/03/22/news/companies/sears-kmart-future/index.html
Trump Administration Developing Principles for Housing Finance Reform
National Mortgage News, Mar. 21, 2017–Ian McKendry (subscription)The Trump administration is developing a set of principles on how to reform the housing finance system that it hopes to release within a few months, said Mark Calabria, chief economist for Vice President Mike Pence.
Tensions Escalate at House Hearing on Constitutionality of the CFPB
HousingWire, Mar. 21, 2017–Brena SwansonThe House Financial Services Committee’s Subcommittee on Oversight and Investigations dubbed the hearing The Bureau of Consumer Financial Protection’s Unconstitutional Design. But instead of providing their expertise on the CFPB and its constitutionality, the four witnesses were tossed around between House Republicans who profusely thanked them for coming and House Democrats who condemned the hearing entirely.
Mr. Trump Goes After Consumer Financial Protection Bureau
New York Times, Mar. 22, 2017–Editorial BoardThe Times’ editorial board says the Trump Administration’s efforts to fire Consumer Financial Protection Bureau Director Richard Cordray are “weak.”
U.S. Judge Will Not Certify Deutsche Bank Mortgage Class Action
Reuters, Mar. 21, 2017–Jonathan StempelA federal judge on Tuesday said investors seeking to hold Deutsche Bank AG liable for causing $3.1 billion of losses by failing to properly monitor 10 trusts backed by toxic residential mortgages cannot pursue their claims as a group.
Q4 Mortgage Credit Risk Low
Mortgage Daily, Mar. 21, 2017It’s been 16 years since the quality of residential loans originated has been as low as it was in the fourth quarter. But higher risk is likely ahead.
Regulators Call for Simpler Capital Rules, Easier Reporting Standards
American Banker, Mar. 21, 2017–John Heltman (subscription)Banking regulators are calling for a raft of regulatory changes, including streamlining capital, reporting and appraisal rules in order to reduce compliance burden. The agencies detailed their recommendations Tuesday in a report under the Economic Growth and Regulatory Paperwork Reduction Act.
Why Servicers Can Borrow More Against their Ginnie MSRs
National Mortgage News, Mar. 23, 2017–Bonnie Sinnock (subscription)Servicers are finding they can borrow more against their Ginnie Mae mortgage servicing rights this year, according to a recent report.