HousingWire, July 11, 2016–Ramirez, Kelsey
Category: Top National News
Who Is Eligible for Principal Reduction?…
HousingWire, July 11, 2016–Lane, Ben
Supreme Court to Consider Miami’s Predatory Lending Suit against Bank of America, Wells Fargo
HousingWire, June 28, 2016–Lane, Ben
The U.S. Supreme Court announced Tuesday that it will hear arguments during its next term on whether the city of Miami can sue Bank of America and Wells Fargo for alleged predatory lending.
Nationstar Collateralizes More Defaulted Reverse Mortgages
National Mortgage News, June 28, 2016–Fest, Glenn
Nationstar Mortgage is issuing its fifth securitization of nonperforming reverse mortgages, a unique esoteric residential mortgage-backed securities class the mortgage servicer has engaged in four previous transactions.
Two More FHLBs Sign Up for MPF Government Loan Program
National Mortgage News, June 28, 2016–Collins, Brian
The Federal Home Loan banks of Topeka and San Francisco signed up to participate in a Mortgage Partnership Finance program that pools and securitizes government-backed loans via Ginnie Mae.
Fed Rejects Morgan Stanley in Annual Stress Test
Fortune, June 29, 2016–Gandel, Stephen
On Wednesday, the Federal Reserve said that Morgan Stanley had to resubmit its stress test for “qualitative” reasons. It was the only U.S. bank not to fully pass this year’s stress test.
Fed Stress Tests Clear 31 of 33 Big U.S. Banks to Boost Returns to Investors
Wall Street Journal, June 29, 2016–Tracy, Ryan; Borak, Donna
U.S. banking units of Deutsche Bank, Santander fail, same as last year; Morgan Stanley’s approval is conditional and bank has to resubmit capital plan.
Clash Brewing over Robo-Calls from Mortgage Servicers
National Mortgage News, June 29, 2016–Wack, Kevin
In the aftermath of the foreclosure crisis, the federal government wants mortgage companies to be proactive in reaching out to delinquent borrowers. At the same time, the Obama administration is also trying to protect U.S. consumers from unwanted calls to their cellphones.
FHFA Seeks Comments on Front-End Risk Transfer Deals for Fannie, Freddie
National Mortgage News, June 29, 2016–Collins, Brian
The Federal Housing Finance Agency is soliciting industry input on how to improve Fannie Mae and Freddie Mac’s credit risk transfer transactions, for the first time considering front-end transactions rather than back-end deals.
Supreme Court to Hear Case Involving Where Fannie Can Be Sued
National Mortgage News, June 29, 2016–Passy, Jacob
The Supreme Court agreed Tuesday to hear a case regarding a clause in Fannie Mae’s corporate charter that awards jurisdiction over every case involving the government-sponsored enterprise to federal courts.