National Mortgage News, Sept. 15, 2016–McKendry, Ian
By not offering amendments, Democrats were able to spare members some tough votes on specific issues and not tip their hand on potential compromises further down the road.
Category: Top National News
Mastered the CFPB’s 900-Page Mortgage Servicing Rule Yet?
HousingWire, Sept. 15, 2016–Swanson, Brena
Servicers have one year to study and master the Consumer Financial Protection Bureau’s new rule. There will be a test.
New Laws Haven’t Made Big Banks Safer, Paper by Lawrence Summers Says
Wall Street Journal, Sept. 15, 2016–Davidson, Kate
Former Treasury secretary, co-author say stock prices don’t reflect decreased risk of failure.
Flip-O-Rama! House Flipping Hits Six-Year High!
National Mortgage Professional, Sept. 15, 2016–Hall, Phil
ATTOM Data Solutions said 51,500 homes flipped in second quarter.
PNC Chief Acknowledges HEL Process Too Slow
Pittsburgh Post-Gazette, Sept. 15, 2016–Sabatini, Patricia
PNC CEO Will Demchak said bank’s application, approval process cumbersome.
Ocwen Mortgage Modifications Double
Mortgage Daily, Sept. 15, 2016
Government-supported loan modifications at Ocwen Loan Servicing has recently doubled and is expected to remain robust.
Federal Judge Dismisses Another GSE Shareholder Lawsuit
National Mortgage News, Sept. 15, 2016–Collins, Brian
Kentucky district court judge rules that the courts cannot interfere with the GSE regulator’s wind down of Fannie Mae and Freddie Mac.
‘Heartless’ U.S. Mortgage Modification Scheme Leads to 16-Year Prison Term
Reuters, Sept. 15, 2016–Raymond, Nate
Former sales manager of Vortex Financial defrauded 30,000 homeowners out of $31 million.
HUD Proposed Rule Would Bring ‘Catastrophic Losses’ to Reverse Mortgages
Reverse Mortgage Daily, Sept. 18, 2016–Oliva, Jason
MBA, NRMLA and other industry groups urged HUD to maintain current guidelines regarding a mortgagee’s election of loan assignment.
Deutsche Bank to Fight $14 Billion Demand from U.S. Authorities
Reuters, Sept. 16, 2016–Schuetze, Arno
Justice Department says bank missold mortgage-backed securities.