National Mortgage News, Feb. 9, 2017–Andy PetersThe rise in home values is good news for homeowners looking to tap the equity in their homes to pay down debt or make big purchases, but some consumer groups fear it could lead to a new wave of loan defaults.
Category: Top National News
Mortgage Complaints Improve More than Overall
Mortgage Daily, Feb. 9, 2017During the final month of last year, there were 22,852 complaints that were filed by U.S. consumers with the Consumer Financial Protection Bureau.
Investors Reach $40 Million Settlement Over Sears Real Estate Deal
Reuters, Feb. 9, 2017–Tom HalsSears Holding Corp. Chairman and CEO Eddie Lampert and the company’s board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain’s best stores.
Private Flood Insurance Plan Falls Woefully Short, Lenders Say
National Mortgage News, Feb. 10, 2017–Brian CollinsA regulatory proposal to allow banks and other mortgage lenders to accept private flood insurance on residential and commercial properties does not go far enough, according to industry groups.
Experts Say Reversal of Mortgage Insurance Reduction Could Impact First-Time Buyers
Meriden Record-Journal (Conn.), Feb. 13, 2017–Mary Ellen GodinThe premium reduction was made as former President Barack Obama left office but was reversed by the Trump administration so that the proposal’s impact on FHA’s mortgage insurance funds could be reviewed. But some real estate agents and mortgage originators say the fund is healthy enough to offer a reduction.
Ex-AIG CEO Greenberg Reaches $9.9M Settlment in NY Fraud Case
USA Today, Feb. 10, 2017–Kevin McCoyFormer AIG CEO and chairman Maurice “Hank” Greenberg agreed to a $9.9 million settlement Friday in a New York corporate fraud case, ending a nearly 12-year court battle by the prominent insurance industry executive.
Analysis: How Accurate is the CFPB Mortgage Complaint Data?
National Mortgage Professional, Feb. 10, 2017–Phil HallAn analysis of the new report would suggest that the CFPB is presenting an opaque view of how the mortgage industry deals with its customers.
Essent Closes Out 2016 with Improved Profits
National Mortgage News, Feb. 10, 2017–Jacob PassyMortgage insurer Essent Group reported higher net income for the fourth quarter, as premium growth offset a modest uptick in expenses.
It’s Confirmed: CFPB Doesn’t Need to Follow Trump’s Executive Order on Regulations
HousingWire, Feb. 13, 2017The Office of Information and Regulatory Affairs said independent regulatory agencies are not bound by President Trump’s Jan. 30 Executive Order.
Arch 4Q Income Includes $25M of UG Transaction Costs
National Mortgage News, Feb. 13, 2017–Brad FinkelsteinWhile Arch Capital had a slight increase in year-over-year net income to $64 million, the total was affected by $25 million of costs related to the purchase of United Guaranty.