National Mortgage News, Mar. 4, 2016–Peters, Andy
Commercial and multifamily mortgage delinquency rates dropped in the fourth quarter, according to the Mortgage Bankers Association.
Category: Top National News
Homeowners Expect 2016 Equity Gains
Visalia Times-Delta (Calif.), Mar. 4, 2016–Engle, Jeremy
Nearly half, 46 percent, of all U.S. Homeowners with a mortgage, expect their equity will increase in 2016, even though three out of five (60 percent) report equity in their homes has already increased during the last three years of the housing recovery, according to new research conducted for LoanDepot.
Mortgage Foreclosure Rate Lowest Since 2003
Creators Syndicate, Mar. 7, 2016–Woodard, James
The mortgage foreclosure rate has dropped to a more normal rate. This was the major point in a report recently issued by the Mortgage Bankers Association.
Citigroup Executives Avoid U.S. Charges over Mortgage Bonds
Reuters, Mar. 4, 2016–Raymond, Nate
U.S. authorities have decided not to pursue criminal charges against any Citigroup Inc executives or employees involved in packaging and selling mortgage-backed securities at the heart of the 2008 financial crisis, a government report shows.
Deadline Looms for New Cap on FHA Late Fees
National Mortgage News, Mar. 4, 2016–Sinnock, Bonnie
Lenders and servicers that haven’t complied with the Federal Housing Administration’s lower cap on late fees better do it soon.
[Wis.] Senate May Take Up Zombie Homes Bill
Milwaukee Journal-Sentinel, Mar. 5, 2016–Spicuzza, Mary; Spivak, Cary
A bill that would strip the City of Milwaukee of its ability to force financial institutions to quickly sell abandoned, foreclosed properties known as zombie homes is headed toward the Senate floor.
Delinquency Rates on Commercial Loans Fall in Fourth Quarter
Scotsman Guide, Mar. 3, 2016–Whitman, Victor
Delinquency rates on commercial and multifamily mortgages held by the major investor classes generally fell or remained stable in the fourth quarter, the Mortgage Bankers Association reported.
Oversight of the National Mortgage Settlement Is Done, Monitor Says
American Banker, Mar. 3, 2016–Berry, Kate
Oversight of the four largest mortgage servicers’ compliance with the national mortgage settlement is officially over, the watchdog overseeing the process said Thursday.
Bank of NY Mellon Must Face Lawsuit over $1.12 Billion Mortgage Loss
Reuters, Mar. 3, 2016
Bank of New York Mellon Corp. must face a lawsuit seeking to hold it liable for causing $1.12 billion (£790.7 million) of investor losses by failing to properly monitor five trusts backed by toxic residential mortgages, a Manhattan federal judge ruled.
Ginnie Mae Is Looking for a Few Good Subservicers
National Mortgage News, Mar. 3, 2016–Sinnock, Bonnie
Ginnie Mae, the agency that insures government loan securitizations could use some more subservicers because it is concerned that so much of its issuance gets outsourced to a small number of players.