MarketWatch, Apr. 7, 2016–Riquier, Andrea
Americans are becoming more and more credit-worthy, especially when it comes to home equity.
Category: Top National News
J.P. Morgan: We’re Too Big Not to Succeed
Wall Street Journal, Apr. 7, 2016–Glazer, Emily
In a proxy released Thursday morning, J.P. Morgan pushed back against a shareholder proposal for a bank breakup, pointing to its business synergies, benefits of scale and value to clients.
A More Promising Road to Reform
Urban Institute, Apr. 7, 2016–Zandi, Mark
In today’s housing finance system, two behemoth institutions, Fannie Mae and Freddie Mac, control most of the core infrastructure of the secondary market and take on most of its credit risk. While in many ways this system has served the nation well by providing a broad range of borrowers access to credit and a level playing field for lenders of all sizes, our reliance on this duopoly created perverse incentives that ultimately led to too much risk taking, forcing taxpayers to shoulder the resulting cost.
More Than 40% of Student Borrowers Aren’t Making Payments
Wall Street Journal, Apr. 7, 2016–Mitchell, Josh
More than 40% of Americans who borrowed from the government’s main student-loan program aren’t making payments or are behind on more than $200 billion owed, raising worries that millions of them may never repay.
MetLife’s Shedding Of ‘Too Big To Fail’ Designation Could Boost Commercial Real Estate Lending
Forbes, Apr. 6, 2016–Razin, Ely
We can reasonably expect MetLife’s commercial real estate lending to increase in the medium-to-long term by reducing the government-imposed capital requirements required of systemically important financial institutions.
Survey Shocker: Nearly Every Credit Union Suffers TRID Mortgage Closing Delays
Housing Wire, Apr. 6, 2016–Barraza, Cynthia
After the Consumer Financial Protection Bureau finalized the TILA-RESPA Integrated Disclosure in Oct. 3, 2015, credit unions reportedly began experiencing delays closing home loans, according to data compiled from research firm Callahan & Assocs.
What Happens When a Homeowner Dies Before the Mortgage Is Paid?
Wall Street Journal, Apr. 6, 2016–Martin, Anya
When home buyers go to the closing, it’s unlikely they’re thinking about what happens if they die before their mortgage gets paid off.
U.S. Official Overseeing Wall Street Mortgage Probes to Leave
Bloomberg, Apr. 5, 2016–Schoenberg, Tom
Stuart Delery, the Justice Department official overseeing civil investigations of banks for conduct related to the financial crisis, is stepping down April 14 to explore options in the private sector.
Minneapolis Fed Chief: U.S. Needs to Guard Against Failure of Giant Banks
Minnesota Public Radio, Apr. 5, 2016–Moylan, Martin
Minneapolis Federal Reserve President Neel Kashkari believes not enough has been done to protect the country should one or more of the nation’s megabanks face failure.
Trade Groups Call Out CFPB on Message Confusion
National Mortgage Professional, Apr. 8, 2016–Hall, Phil
At a hearing before the Senate Banking Committee, Mortgage Bankers Association Senior Vice President of Legislative and Political Affairs Bill Killmer urged the CFPB to provide clear “rules of the road” whenever it plans to create new rules or to update both existing guidelines and the interpretations of longstanding policies.