Mortgage Daily, Sept. 20, 2016
FHFA reports Fannie Mae, Freddie Mac refis tumbled from year ago.
Category: Top National News
Freddie Mac: Mortgage Interest Rates will Hit 40-Year Low in 2016
HousingWire, Sept. 20, 2016–Lane, Ben
GSE predicts best year for home sales since 2006.
Housing Debt Is Causing Problems for Retirees: Prudential
National Mortgage News, Sept. 20, 2016–Passy, Jacob
Americans carrying higher levels of debt as they head into retirement, raising the specter of financial headaches in their old age.
Upgrades on $6 Billion RMBS from BofA Settlement
Mortgage Daily, Sept. 20, 2016
Upgrades resulted from recent massive settlement by Bank of America.
Industry Fears Losses over Reverse-Mortgage Rule
Scotsman Guide, Sept. 21, 2016–Whitman, Victor
MBA and other groups said proposed HUD rule on Home Equity Conversion Mortgages could harm servicers, borrowers.
Chase Officially Satisfies $4 Billion RMBS Settlement Consumer Relief Requirement
HousingWire, Sept. 22, 2016
Settlement closes claims related to Bear Stearns, Washington Mutual securities sold to investors.
How Have Third-Party Mortgage Servicing Portfolios For The Largest U.S. Banks Changed In The Last 5 Quarters?
NASDAQ, Sept. 21, 2016–Trefis Team
Five largest U.S. banks have seen a notable reduction in their total third-party mortgage servicing portfolio.
Fed’s Yellen Says Megabanks Not ‘Too Big to Manage’
National Mortgage News, Sept. 21, 2016–Heltman, John
Fed Chair insists despite concerns raised by the recent scandal at Wells Fargo, there is no inherent reason why large banks cannot meet existing standards of conduct.
Nationstar Unit Closing
Mortgage Daily, Sept. 21, 2016
Joint venture between Nationstar Mortgage LLC and KB Home winding down.
Fannie Mae Completes $14.4B of Credit Insurance Risk Transfers
National Mortgage News, Sept. 21, 2016–Passy, Jacob
Fannie Mae said transactions represent continuation of its efforts to reduce taxpayer risk through an increased role for private capital in the mortgage market.