Reuters, Mar. 24, 2015–Raymond, Nate
Credit Suisse Group AG agreed to pay more than $29 million to resolve a U.S. regulator’s claims that it sold toxic mortgage-backed securities to credit unions that later failed, according to court papers filed on Thursday.
National Mortgage Professional, Mar. 24, 2016–Hall, Phil
One-third of all home sales during 2015 were all-cash transactions, according to new data from CoreLogic. Last year’s cash sales sum was the lowest recorded since 2008 and is 13 percent below the 46.6 percent peak in January 2011.
HousingWire, Mar. 23, 2016–Swanson, Brena
TRID, aka Know Before You Owe, caused mortgage lender back office fulfillment and post-closing costs to increase by an average of $209 per loan since October 2015, STRATMOR Group reported.
HousingWire, Mar. 23, 2016–Barraza, Cynthia
The mortgage delinquency rate hit its lowest level since April 2007 as it fully recovers from January’s 6.6%, according to the latest report from Black Knight Financial Services.
Wall Street Journal, Mar. 23, 2016–Light, Joe
A group including some of the chief architects of the Obama administration’s housing policy released a paper Wednesday outlining a new proposal for how to deal with mortgage-finance giants Fannie Mae and Freddie Mac.
National Mortgage News, Mar. 23, 2016–Collins, Brian
The Federal Housing Finance Agency appears poised finally to allow principal reductions, but it’s been nearly a decade since the mortgage crisis and underwater borrowers are much fewer thanks to higher home values.
NASDAQ, Mar. 28, 2016–Trefis
The total third-party mortgage servicing portfolio for the 5 largest U.S. banks has shrunk by nearly 9% annually over the last five years, as stricter capital requirements and poor quality of legacy mortgages forced the four largest banks to reduce their presence in the mortgage servicing industry.
Wall Street Journal, Mar. 27, 2016–Andriotis, Annamaria
At hardware stores along the U.S. East Coast in recent weeks, TD Bank has been trying to persuade shoppers to think bigger than paint and plumbing supplies: The bank wants them to start taking cash out of their homes again.
National Mortgage Professional, Mar. 16, 2016–Lykken, David
We need to be held to a higher standard if we want to survive and thrive in a tough economy. The better represented consumers are, the more prosperous they will be. And, as consumers become more prosperous, so can the mortgage industry.
HousingWire, Mar. 16, 2016–Gaffney, Jacob
Consumer Financial Protection Bureau Director Richard Cordray, appearing before the House Financial Services Committee, said consumer complaints against mortgage lenders and servicers are nearly at a half million.
