Mortgage Daily, Sept. 28, 2016
August secondary activity totaled $45.9 billion.
Category: Top National News
New York Announces New Requirements for Maintenance of Zombie Homes
Housing Wire, Sept. 28, 2016–Lane, Ben
New regulation will hold lenders and mortgage servicers “accountable.”
Credit Suisse, Barclays Said to Be in Mortgage-Settlement Talks
Bloomberg, Sept. 28, 2016–McLaughlin, David; Schoenberg, Tom
Deutsche Bank AG isn’t the only lender wrestling with the U.S. to resolve an investigation into toxic mortgage bonds: Credit Suisse Group AG and Barclays Plc are also each in settlement talks with the Justice Department.
Ditech Settles Charges of Borrower Harassment
Mortgage Daily, Sept. 28, 2016
Walter Investment Management Corp.’s mortgage banking subsidiary has agreed to settle charges that it harassed delinquent Massachusetts borrowers for four years.
Justice Dept. to Banks: Cooperate in Civil Investigations–Or Else
National Mortgage News, Sept. 28, 2016–Berry, Kate
Banks now expected to “materially assist” the agency in providing documents, access to witnesses and even inculpatory documentary evidence such as emails and text messages.
European Banks and the Great Mortgage Settlement Game
Wall Street Journal, Sept. 28, 2016–Davies, Paul
Credit Suisse has the least wiggle room and will be watching outcome of Deutsche Bank’s mortgage case closely.
Fewer Students Are Defaulting On Loans After Leaving College
Wall Street Journal, Sept. 28, 2016–Mitchell, Josh
But figure remains high despite solid labor market.
Seven Transitional Themes, With MBA’s Dave Stevens
Capital Alpha Partners, Sept. 29, 2016
Capital Alpha hosted Mortgage Bankers Association CEO Dave Stevens in an annual call to update listeners on policy issues confronting the mortgage housing sector.
Fines, Withdrawals, Job Cuts. It Was an Ugly Day for Global Banks
Bloomberg, Sept. 29, 2016–Melby, Caleb; Cullen, Angela
Even before the opening bell in New York, Thursday looked like a grim day for some of the giants of global banking.
BB&T Paying $83M to Settle FHA Bad Loan Investigation
National Mortgage New, Sept. 29, 2016–Finkelstein, Brad
BB&T Corp. has agreed to an $83 million settlement with the U.S. Department of Justice over mortgages with quality control problems that were insured by FHA.