Wall Street Journal, June 22, 2016–Hayashi, Yuka
The Consumer Financial Protection Bureau said it found “numerous” mortgage servicers, essentially middlemen between lenders and borrowers, in violation of its 2014 rules requiring them to maintain accurate records.
Bloomberg, June 22, 2016–Light, JoePresident Obama’s former point man on housing-finance reform Michael Stegman is taking a job with a think tank that has sought to play a major role in shaping rules for a world without mortgage guarantors Fannie Mae and Freddie Mac–at least in their current form.
HousingWire, June 21, 2016–Lane, Ben
Last week, Fannie Mae unexpectedly announced a delay to the latest update to its Desktop Underwriter program. On Tuesday, it announced the implementation of Desktop Underwriter Version 10.0 is now scheduled for the week of Sept. 24.
HousingWire, June 21, 2016–Lane, Ben
Freddie Mac announced Tuesday that it agreed to sell more than $700 million in delinquent loans off of its books to a series of private investors, with one familiar buyer snapping up much of the offering.
Wall Street Journal, June 21, 2016–Fung, EstherThe real-estate investment trust industry, which has gotten high marks in recent years for adopting compensation programs that investors like, has suffered a bit of slippage in 2016.
National Mortgage News, June 21, 2016–Birdsell, Jeff
Lenders who do not offer the Home Equity Conversion Mortgage option to qualified borrowers when it aligns with their financial objectives are not just missing out on a good business opportunity–they’re falling short on their responsibility to borrowers.
Bloomberg, June 21, 2016–Nasiripour, Shahien
A small Boston bank is betting it can attract tens of thousands of millennials by giving them a chance to pay off their student loans a few months early, rather than offering more common incentives such as interest on their deposits or airline miles for their purchases.
New York Times, June 26, 2016–Goldstein, Matthew; Abrams, Rachel; Protess, Ben When the housing crisis sent the American economy to the brink of disaster in 2008, millions of people lost their homes. The banking system had failed homeowners and their families. New investors soon swept in–mainly private equity firms–promising to do better. But some of these new investors are repeating the mistakes that banks committed throughout the housing crisis.
National Mortgage News, June 24, 2016–Collins, Brian
Ginnie Mae surpassed Freddie Mac in total outstanding mortgage securities backed by single-family loans for the first time, according to researchers at the Urban Institute.
Huffington Post, June 26, 2016–Lazar, Michael
May marked a new, big month for HECM reverse mortgage securities, or HECM mortgage-backed securities. According to the most recent reports, $857 million in new pools were created during May alone, says a New View Advisors report.
