Reuters, Oct. 26, 2016–Rucker, Patrick
Credit unions will be able to more easily expand into markets dominated by banks after a reform vote on Thursday, industry officials say, as regulators clear the way for the not-for-profits lenders.
Category: Top National News
2017 Fannie Mae Outlook
Affordable Housing Finance, Oct. 26, 2016–Kimura, Donna
Fannie Mae Multifamily Mortgage Vice President Bob Simpson discusses what the government-sponsored enterprise has in store.
Mortgage Firms Warned About HMDA Noncompliance
Mortgage Daily, Oct. 28, 2016
Dozens of mortgage bankers and mortgage brokers have been warned that they might not be in compliance with Home Mortgage Disclosure Act requirements.
Experts: PHH Court Ruling Bruises CFPB, Wells Fargo Scandal Ensures its Future
GoRion, Oct. 27, 2016–Wisniowski, Charles
Industry observers predict that a recent adverse D.C. appeals court ruling will leave a lasting mark on the Consumer Financial Protection Bureau.
Feds Seek to Block Release of Fannie Mae and Freddie Mac Memos
Fortune, Oct. 27, 2016–Parloff, Roger
Invoking an emergency procedure, the Justice Department appealed a judge’s order that would force the government to turn over documents that might shed light on why Fannie Mae and Freddie Mac were effectively nationalized in August 2012.
Ocwen Discloses Possible CFPB Action
Mortgage Daily, Oct. 27, 2016
Ocwen Financial Corp. revealed it is working with the Consumer Financial Protection Bureau to avoid actions that could have a material impact on the company.
Barclays Is Trying to Cap U.S. Mortgage Penalty at $2 Billion
Bloomberg, Oct. 27, 2016–Ring, Suzi; Morris, Stephen; Farrell, Greg
Barclays Plc is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high.
Tepid Demand for Ginnie Servicing Rights: How Big a Problem Is It?
National Mortgage News, Oct. 27, 2016–Sinnock, Bonnie
A market that some Ginnie Mae issuers tap to help finance their mortgage operations has a dwindling number of investors.
Why Credit Scores Are Improving for Previously Foreclosed Borrowers
National Mortgage News, Oct. 27, 2016–Passy, Jacob
Millions of consumers’ credit reports will no longer reflect past mortgage problems, which could open up borrowing opportunities for many of them.
Were Mini-Correspondents the Target of Those HMDA Warning Letters?
National Mortgage News, Oct. 28, 2016–Kilgore, Austin Mortgage brokers were among the companies that received the regulator’s warning letters, but brokers are not required to report HMDA data – leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.