Huffington Post, Jan. 7, 2016–Lazar, Michael
New reverse mortgage laws are actually making retirement planning more feasible, say the leading experts. When used properly as part of a retirement plan, experts like Jamie Hopkins, associate professor of taxation at The American College in Bryn Mawr, Pa., and co-director of the New York Life Center for Retirement Income, says that they can improve the security of retirees.
Reuters, Jan. 7, 2016–Raymond, Nate
A judge has given preliminary approval to a $110 million settlement to resolve an investor lawsuit against Credit Suisse Group AG over toxic mortgage-backed securities issued before the 2008 financial crisis.
DS News, Jan. 6, 2016–Honea, Brian
Peter Muriungi has been chosen as JPMorgan Chase’s new head of Mortgage Servicing to replace Mike Weinbach, who was named CEO of Chase’s Mortgage Banking division in December.
Wall Street Journal, Jan. 5, 2016–Stevens, David
MBA president and CEO, in letter to Wall Street Journal, said credit-risk transfers conducted by Fannie Mae and Freddie Mac require different approaches that minimize taxpayer risk.
Wall Street Journal, Jan. 5, 2015–Glazer, Emily
The Office of the Comptroller of the Currency said J.P. Morgan Chase & Co. would pay a $48 million civil penalty to end a regulatory order against the bank related to mortgage-servicing matters. EverBank, a Jacksonville, Fla., lender, also is exiting a so-called consent order with the OCC, paying $1 million as a civil money penalty to the bank regulator.
Washington Post, Jan. 6, 2016–Lerner, Michele
A new opportunity for home ownership is available to credit-worthy low- to moderate-income borrowers through Fannie Mae’s new HomeReady mortgage program.
Miami Today, Jan. 5, 2016–Vianna, Carla
The 2010 law has strung banks along a regulatory rollercoaster for five years, paving the way for new agencies and requirements that changed the way the nation’s banks operated. This year, more regulations are expected from the five-year-old law.
National Mortgage News, Jan. 11, 2016–Macheel, Tanaya
The commercial mortgage-backed securities delinquency rate finished 2015 at a six-year low, said Fitch Ratings.
GlobeSt.com, Jan. 12, 2016–Bubny, Paul
Insurers’ allocations to commercial mortgages showed a slight increase for the first six months of 2015 compared to year-end 2014, while the delinquency rate among these mortgages is bested only by Fannie Mae and Freddie Mac, according to recent figures from the Mortgage Bankers Association.
Wall Street Journal, Jan. 11, 2016–Kendall, Brent; Mitchell, Josh
The Supreme Court on Monday turned away an appeal that sought to make it easier to erase student loans in bankruptcy, sidestepping an issue that has become a focal point for consumer advocates and lawmakers as millions of borrowers fall behind on their payments.
