National Mortgage News, Apr. 20, 2016–Sinnock, Bonnie
New claims related to sellers of legacy mortgage-backed securities from the financial crisis may have peaked, but lawsuits against trustees and servicers may linger for at least a few more years.
Wall Street Journal, Apr. 25, 2016–Borak, Donna
Large U.S. banks would have to prove they have enough cash to withstand severe market turmoil lasting as long as a year under a new rule set to be proposed Tuesday.
HousingWire, Apr. 25, 2016–Swanson, Brena
Despite lack of guidance from the Consumer Financial Protection Bureau, the Structured Finance Industry Group’s due diligence grades provide clarity for investors.
HousingWire, Apr. 25, 2016–Lane, Ben
Nationstar Mortgage and Flagstar Bank are among two of the best mortgage servicers in the country, according to Fannie Mae, which recently bestowed both with its highest level of performance recognition.
Appleton Post-Crescent (Wis.), Apr. 25, 2016–Marley, Patrick; Spicuzza, Mary
The legislation Walker signed Monday follows a 2015 unanimous state Supreme Court decision upholding a 2012 law that strengthened Milwaukee’s hand in dealing with zombie homes. In that case, justices said that when a court declares a foreclosed property to be abandoned, the lender must offer it for sale. Foreclosed properties are auctioned off at sheriff’s sales and lenders often buy the properties themselves.
National Mortgage News, Apr. 22, 2016–Passy, Jacob
HUD said Friday that an agreement was reached between Fidelity Bank and the Fair Housing Project of North Carolina Legal Aid.
HousingWire, Apr. 12, 2016–Lane, Ben
According to an article published Tuesday by the New York Times, a series of now-unsealed depositions given in the shareholders’ lawsuits show that not only were Fannie and Freddie on track to be profitable for at least 10 years, the government allegedly knew that fact, and more, before choosing to sweep away the GSEs’ profits.
National Mortgage Professional, Apr. 12, 2016
ComplianceEase named former Mortgage Bankers Association David Kittle, CMB, as senior vice president of Government and Industry Relations.
Forbes, Apr. 12, 2016–Carlyle, Erin
White men are disproportionately benefiting from the mortgage interest tax deduction, while women and minorities are getting left out, a new report by Trulia suggests.
Pittsburgh Post-Gazette, Apr. 12, 2016–Grant, Tim
Losing a home to foreclosure has left such a bad taste with some former homeowners that they have lost much of their will and desire to go through the underwriting process to get approved for a new home loan – even though years may have gone by since the foreclosure episode.
