Category: Top National News

HousingWire, Mar. 7, 2017–Ben LaneDespite the concerted effort by members of the Republican Party to dismantle the Consumer Financial Protection Bureau, a top Trump administration official told attendees at a conference in Washington that the embattled agency will likely survive the Trump administration.

HousingWire, Mar. 7, 2017–Sarah WheelerPanelists at an Ellie Mae conference said the Consumer Financial Protection Bureau’s proposed changes to the rule don’t address two of the biggest challenges, both of which concern lenders coordinating with title and settlement services.

GoRion, Mar. 7, 2017–Sam BourgiThe Federal Reserve is on course to end reinvestments of its mortgage-backed securities (MBS) holdings next year, as policymakers attempt to shrink a balance sheet that swelled following the financial crisis, analysts at Morgan Stanley recently predicted.

Mortgage Daily, Mar. 7, 2017A new report indicates loans included in residential mortgage-backed securities will benefit from digital mortgages as long as legal issues are addressed.

HousingWire, Mar. 8, 2017–Ben LaneAccording to the report from its Office of Inspector General, HUD “failed to adequately oversee” billions of dollars in loans that may have “questionable down payment assistance,” thereby putting the FHA’s Mutual Mortgage Insurance Fund at risk because of borrowers with higher than market interest rates.

National Mortgage News, Mar. 8, 2017–Jacob Passy (subscription)Twelve of the top 15 quality control issues in 2016, as identified by third-party mortgage compliance service provider MetaSource, were TRID-related. The findings were based on a review of thousands of post-close QC audits performed by the Utah-based company.

Wall Street Journal, Mar. 9, 2017–Rachel Witkowski (subscription)What to do about extending the National Flood Insurance Program divides Congress along regional rather than party lines.

Reuters, Mar. 9, 2017–David Lawder; Amanda BeckerPresident Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital.

Wall Street Journal, Mar. 9, 2017–Leslie Scism; Joann S. Lublin (subscription)American International Group Inc. Chief Executive Peter Hancock, apparently having lost the faith of the insurer’s directors, quit at a board meeting Wednesday where his future was being discussed.

GoRion, Mar. 9, 2017–Mark FogartyInvestors heaving a sigh of relief that the foreclosure crisis isn’t an imminent danger to their collateral any more are mostly right.