CNBC, Mar. 3, 2017–Diana Olick Homeowners are opening their favorite piggy bank again–their homes.
Category: Top National News
GOP Switches Tactics in ‘War’ Against CFPB
National Mortgage News, Mar. 3, 2017–Kate Berry; Ian McKendry (subscription)Republicans have opened multiple fronts against the agency, undertaking separate efforts through obscure legislative processes to cut its funding and roll back past and future rules, while also considering a larger bill that would effectively gut the agency entirely.
CFPB Director Richard Cordray Speaks Out About His Controversial Role
HousingWire, Mar. 2, 2017–Brena Swanson”The independence of a consumer watchdog is very much worth fighting for,” Cordray told CNBC.
CMBS Delinquency Rate on the Rise
National Mortgage Professional, Mar. 2, 2017–Phil HallThe delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities reached 5.31 percent in February, up 13 basis points from January, Trepp reported.
Offices Drive CMBS Delinquency to 18-Month High
Mortgage Daily, Mar. 2, 2017Deterioration in office loan performance droved delinquency on securitized commercial real estate loans to an 18-month high.
Biggest 2016 Commercial Mortgage Servicers
Mortgage Daily, Feb. 21, 2017PNC Real Estate/Midland Loan Services serviced 32,559 CRE loans with an aggregate principal balance of $517.522 billion as of Dec. 31, the Mortgage Bankers Association said.
Increase in Delinquency Rate Just a Blip: MBA
National Mortgage News, Feb. 21, 2017–Brad Finkelstein (subscription)”In the grand scheme of things, it looks like a little blip,” but it is too early to see if that could be the start of a larger trend, said Marina Walsh, MBA vice president of industry analysis.
Government Wins Flexibility on Fannie and Freddie
Wall Street Journal, Feb. 21, 2017–Aaron Back (subscription)Investors suing the government over its management of Fannie Mae and Freddie Mac suffered a stinging defeat on Tuesday. The court ruling largely settles one significant question about the companies’ future, but their ultimate fate remains unclear.
Can This Small Texas Bank Jump in on PHH’s Fight with the CFPB?
HousingWire, Feb. 21, 2017–Brena SwansonBattling alongside PHH is State National Bank of Big Spring, Texas. And while it’s a lesser-known case, it harbors a similar grudge against the Consumer Financial Protection Bureau, with a lot of its fate resting in the outcome of the PHH case.
CFPB’s First Jury Trial to Test Agency Overreach
National Mortgage News, Feb. 22, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau is set to face its first jury trial in April in what is shaping up to be a critical test of the agency’s authority.