HousingWire, Nov. 16, 2016–Lane, Ben
Sale expected to generate $90 million for Walter Investment Management Corp.
Category: Top National News
Critics Say HUD Sales of Delinquent Mortgages are Hurting, Not Helping
Baltimore Sun, Nov. 16, 2016–Sherman, Natalie
The federal government has sold thousands of delinquent Maryland mortgages to private investors through a controversial program that critics argue hurts homeowners and contributes to Baltimore’s vacancy problem.
Culture Behind Best Mortgage Employers
Mortgage Daily, Nov. 18, 2016–Garcia, Sam
Several mortgage bankers and mortgage service providers were among companies recently recognized as best employers. Culture was cited among some for their elevated status.
Deutsche, Citi Team Up on Risk-Retention CMBS
Business Recorder/Reuters, Nov. 21, 2016
Deutsche Bank and Citigroup teamed up to offer a new $975 million commercial mortgage-backed securities bond they hope will satisfy new risk-retention rules that take effect next month. The banks plan to keep at least 5 percent of each class of the securitization.
Bias Suits Against Banks by Cities May Divide High Court
Bloomberg, Nov. 8, 2016–Stohr, Greg
U.S. Supreme Court justices signaled they may divide over the ability of cities to use the Fair Housing Act to sue banks for discriminatory lending practices that contribute to urban blight.
Re-Performing GSE Mortgages Sold
Mortgage Daily, Nov. 8, 2016
The transaction involves 3,508 Fannie Mae loans with an aggregate principal balance of $789 million.
PHH Exiting Private Label Origination Business; Selling Off Ginnie Mae MSRs
HousingWire, Nov. 8, 2016–Lane, Ben
According to PHH, it is set to begin the exit from the private-label business and intends that process to be substantially complete by first quarter 2018.
Mortgage Lenders Hope for Relief From Regulatory Backlash
Wall Street Journal, Nov. 9, 2016–Andriotis, Annamaria
MBA President and CEO David Stevens, CMB, said it is possible that a new attorney general appointed by Donald Trump would scale back these lawsuits, lessening risk of regulatory retaliation and possibly paving the way for big banks to return to FHA lending.
How Mortgage Lobby Plans to Influence Trump, Republican Congress
National Mortgage News, Nov. 9, 2016–Passy, Jacob
The Mortgage Bankers Association is focused on identifying and reaching out to the “key people who are going to be advising the president,” said the David Stevens, the group’s president and CEO.
CFPB’s Precarious Future Under Trump
National Mortgage News, Nov. 9, 2016–Berry, Kate; McKendry, Ian
President-elect Donald Trump might attempt to remove Consumer Financial Protection Bureau Director Richard Cordray from his post and boost legislative efforts to weaken its powers.