National Mortgage News, Feb. 19, 2016–Sinnock, Bonnie
The Consumer Financial Protection Bureau acknowledges that gearing up for the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosures has been tough, and it promises to consider that fact in exams.
HousingWire, Feb. 19, 2016–Lane, Ben
Ocwen Financial is about to add a big name to its board of directors, as the nonbank announced Friday that Carol Galante, the former commissioner of the Federal Housing Administration, is set to join the company’s board.
MortgageOrb, Feb. 19, 2016
The delinquency rate (30 days or more past due) for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.77% of all loans outstanding at the end of the fourth quarter, according to the Mortgage Bankers Association’s National Delinquency Survey.
Wall Street Journal, Feb. 19, 2016–Dulaney, Chelsey; Light, Joe
Fannie Mae will send $2.9 billion to the U.S. Treasury Department in March, as profit grew in its fourth quarter because of the impact of increased interest rates.
National Mortgage Professional, Feb. 17, 2016–Grant, RickMortgage Bankers Association Vice-Chairman J. David Motley, CMB., president of Colonial Savings F.A., focused on the high cost of loan servicing and its correlation to increased regulatory oversight at the MBA National Mortgage Servicing Conference and Expo 2016.
National Mortgage News, Feb. 12, 2016–Finkelstein, Brad
United Guaranty reported pretax operating income of $644 million for 2015 while its new insurance written increased by 21%.
HousingWire, Feb. 12, 2016–Swanson, Brena
Another batch of mortgage rights hit the market, with a $2.8 billion Fannie Mae, Freddie Mac and Ginnie Mae bulk MSR now for sale.
National Mortgage News, Feb. 11, 2016–Stevens, David
MBA President and CEO says given the exclusivity of its members, the Federal Home Loan Bank system is failing to serve the marketplace as well as it could.
Bloomberg, Feb. 11, 2016–Smythe, ChristieMorgan Stanley agreed to pay $3.2 billion to end a joint federal-state investigation into its handling of mortgage-backed securities, the fourth deal to be struck in a probe of the big U.S. banks’ role in the subprime mortgage meltdown and the financial crisis it spawned.
Buffalo News, Feb. 11, 2016–Glynn, Matt
A newly launched website has some features of a conventional real estate website, but with a twist. But the descriptions take to task banks the site claims drag out the foreclosure process – sometimes for years–and prevent the properties from going back on the market.
