HousingWire, Feb. 24, 2016–Lane, Ben
The Consumer Financial Protection Bureau wants the financial industry to think of it as “an important new friend and ally” in helping to serve the financial needs of the public, as CFPB Director Richard Cordray told the Credit Union National Association.
Reuters, Feb. 24, 2016–Freed, Dan
Wells Fargo continues to face federal and state mortgage probes, even after the $1.2 billion settlement it reached in early February to resolve claims of misconduct related to mortgages insured by the Federal Housing Administration.
New York Post, Feb. 29, 2016
Ocwen Financial is again being probed by regulators over fees and expenses related to liquidated loans and bank-foreclosed properties, the company said in a regulatory filing on Monday.
National Mortgage News, Feb. 29, 2016–Sinnock, Bonnie
After imposing a virtual moratorium on adding new issuers, Ginnie Mae is again accepting applications from mortgage companies seeking to pool loans for securitization and servicing.
National Mortgage News, Feb. 29, 2016–Passy, Jacob
Ocwen Financial Corp. and Walter Investment Management Corp. both recorded full-year losses in 2015, though that is where comparisons between the two companies cease.
HousingWire, Feb. 29, 2016–Swanson, Brena
The results for the 2016 Oscars are in, and The Big Short won Best Adapted Screenplay. But despite the new Hollywood proof that the film is impressive, it doesn’t mean that the movie is the most accurate source for how the financial crisis unfolded.
MarketWatch, Feb 17, 2016–Goldstein, Daniel
The Flint real-estate market had long been depressed after the loss of many jobs in the nearby auto industry. The water poisoning crisis at the end of December dropped selling prices to $30,700, according to Zillow.com. “The difficult issues raised in Flint go beyond just Fannie and Freddie, but essentially they revolve around the balance between protecting the health of borrowers without decimating home values in an area that is already facing serious struggles,” said David Stevens, president of the Mortgage Bankers Association.
Wall Street Journal, Feb. 17, 2016–Dulaney, Chelsea
Fannie Mae said economic growth could remain “unspectacular” this year despite a healthier labor market, according to a new report from the mortgage-finance company.
Bloomberg, Feb. 17, 2016–Mulholland, Sarah
Wall Street firms are readying themselves for new rules aimed at requiring them to eat what they cook. A provision of the 2010 Dodd-Frank law that takes effect in December forces banks to keep a stake in the commercial-property loans they package into securities and sell off to investors.
Scotsman Guide, Feb. 16, 2016–Whitman, Victor
Since this past summer, mortgage servicers have been at greater risk of getting slapped with a class-action lawsuit or stiff fines for making unwanted robo calls, legal analysts say. In February, the Mortgage Bankers Association wrote to several housing regulators, pointing out the conflicts created by federal policy on autodial calls.
