Yahoo! Finance, Jan. 20, 2017–Ausick, PaulThe national mortgage application fraud risk index rose from 108 in the third quarter of 2016 to 122 in the fourth quarter, according to researchers at CoreLogic, a sequential increase of 13%.
Category: Top National News
Higher Prices Give Homeowners Billions More in Equity, But Mood is Soured by Rising Mortgage Rates
CNBC, Jan. 10, 2017–Olick, Diana
In the first three quarters of 2016 alone, homeowners added $837 billion in total equity. But apparently those gains are not enough to counter the negative effects of rising mortgage rates.
Post-Crisis Mortgage Success Stories
Mortgage Daily, Jan. 10, 2017–Garcia, Sam
Several non-bank home lenders have risen from the ashes of the financial crisis to become some of the biggest players in the nation’s new mortgage banking sector.
Trump Team Signals It Will Oust CFPB’s Cordray
National Mortgage News, Jan. 12, 2017–McKendry, Ian; Berry, Kate
Although Richard Cordray has a term that stretches until July 2018, Trump interviewed former Rep. Randy Neugebauer, R-Texas, for the CFPB spot on Wednesday, senior Trump spokesman Sean Spicer told reporters on a conference call.
Ocwen Helps 75,000 Homeowners Avoid Foreclosure in 2016
National Mortgage Professional, Jan. 12, 2017
Modification programs include both the Department of the Treasury Home Affordable Modification Program, as well as proprietary modifications for those homeowners who did not qualify for a HAMP modification.
Ted Tozer, Steward of Ginnie Mae for 7 Years, Departing
National Mortgage News, Jan. 13, 2017–Passy, Jacob
As president of the secondary marketing agency, Tozer has helped the mortgage market to continue functioning and keep up with changes following the financial crisis. The incoming Trump administration has not yet picked a successor.
Trump’s Treasury Secretary Pick Was Not a ‘Foreclosure King’
The Hill, Jan. 10, 2017–Crawford, Casey
The author, CEO of Movement Mortgage, asserts that Stephen Mnuchin is being unfairly characterized ahead of his Senate confirmation hearing.
Bankers Cry Foul Over CFPB’s Five-Star Complaint Rating System
National Mortgage News, Jan. 13, 2017–Berry, Kate
Bankers are trying to stop the Consumer Financial Protection Bureau from allowing consumers to rank how companies handle complaints on a one- to five-star scale and to publish narratives of consumer experiences in an online public database.
Moody’s Pays $864 Million to U.S., States over Pre-Crisis Ratings
Reuters, Jan. 14, 2017
The credit rating agency reached the deal with the Justice Department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the Justice department said in a statement.
Premium Reduction May Give FHA Competitive Edge Over GSEs
National Mortgage News, Jan. 13, 2017–Collins, Brian
The Federal Housing Administration program could see a $50 billion increase in single-family loan endorsements this year if a planned 25-basis-point annual premium cut goes into effect on Jan. 27.