National Mortgage News, Mar. 29, 2016–Tymesen, Tana
Military families and service members are submitting debt collection complaints to the Consumer Finance Protection Bureau at twice the rate of other consumers.
Category: Top National News
GE Files to End Fed Oversight After Shrinking GE Capital
Wall Street Journal, Mar. 31, 2016–Mann, Ted
General Electric Co. formally asked to be released from supervision by the Federal Reserve on Thursday, saying it has sufficiently shrunk its once-massive financial services arm so it would no longer pose a systemic threat to the financial system.
Ginnie Mae to Test Pools of Loan Mods
National Mortgage News, Mar. 31, 2016–Sinnock, Bonnie
Ginnie Mae, the government agency that guarantees securitizations of Federal Housing Administration-insured loans is experimenting with a pool type that consists only of modifications and reperforming loans.
AMI to CFPB: Don’t Ignore Investor Concerns, TRID Does Cause Issues
HousingWire, Mar. 31, 2016–Swanson, Brena
The initial shockwave from TRID is over, replacing beginning fears and worries with solid evidence of what the new rule is doing to the mortgage industry.
Debt Markets: Choppy Trading Has No End in Sight
Wall Street Journal, Mar. 31, 2016–Zeng, Min
Bond investors are bracing for a turbulent second quarter as they struggle to reconcile surging U.S. employment with some of the lowest bond yields in years.
Why Fannie and Freddie Cannot Be Recapitalized
Wall Street Journal, Apr. 4, 2016–Carney, John
The chances of Fannie Mae and Freddie Mac being released from conservatorship are extremely low, Carney says. A far more probable outcome: that they get wound down and replaced by a new system, perhaps along the line of the National Mortgage Reinsurance Corporation recently outlined in a paper by Jim Parrott, Lew Ranieri, Gene Sperling, Mark Zandi and Barrry Zigas.
RMBS Slowly Moving Back Into Portfolios
Pensions and Investments, Apr. 4, 2016–Jacobius, Arleen
Institutional investors are moving back into residential mortgage-backed securities, even as lawsuit settlements are giving them back some of the money they lost on RMBS investments made before the financial crisis.
Total U.S. Commercial, Multifamily Mortgage Debt Outstanding at $2.83 Trillion
World Property Journal, Apr. 1, 2016–Rachid, Monsef
According to the Mortgage Bankers Association’s latest Commercial/Multifamily DataBook, the fourth quarter was the fourth highest quarter for borrowing and lending on record.
Too Big to Fail and Too Weird to Finance
Bloomberg, Apr. 1, 2016–Levine, Matt
The MetLife decision counts as a loss for the post-crisis system of trying to create systemic stability by prudentially regulating (and/or shrinking) too-big-to-fail firms. The GE application surely counts as a victory.
Amid Finger Pointing, Problem of ‘Zombie Homes’ Worsens
Buffalo News (N.Y.), Apr. 2, 2016–Glynn, Matt
The state Department of Financial Services found delays at different steps of the legal process, with each side blaming the other for repeated postponements. New York, like about half of all states, has a judicial process for foreclosures, meaning the cases wind through court, with a judge overseeing the proceedings.