HousingWire, Nov. 20, 2015–Lane, Ben
Despite being overwhelmingly defeated in the House of Representatives, the Senate is still considering a controversial spending mechanism that would see the fees charged by Fannie Mae and Freddie Mac to guarantee loans go to pay for new roads.
Bloomberg, Nov. 19, 2015–Boesler, Matthew
Accelerating increases in auto loan debt and mortgage credit helped propel total borrowings of U.S. households to the highest level in more than five years, the Federal Reserve Bank of New York said Thursday.
National Mortgage News, Nov. 19, 2015–Kilgore, Austin
From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.
National Mortgage News, Nov. 19, 2015–Bisbey, Allison
Fannie Mae transferred the credit risk on a $12 billion pool of mortgages to reinsurers.
National Mortgage News, Nov. 18, 2015–Witkowski, Rachel
In one instance, a single complaint in the Consumer Financial Protection Bureau’s database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that’s par for the course, leading to inflated complaint numbers and inaccurate data.
Associated Press, Nov. 18, 2015
Wells Fargo is moving mortgage servicing operations from Charlotte to Fort Mill, South Carolina.
New York Times, Nov. 18, 2015–Thomas Jr., Landon
Robert F. Dall, an investment banker and a pioneer of the mortgage bond market on Wall Street, died on Sunday at Lenox Hill Hospital in Manhattan. He was 81.
National Mortgage Professional, Nov. 17, 2015–Hall, Phil
The National Delinquency Survey from the Mortgage Bankers Association found the delinquency rate for mortgage loans on one- to-four-unit residential properties fell to a seasonally adjusted rate of 4.99 percent of all loans outstanding at the end of the third quarter, which is the lowest level since first quarter 2007.
Reuters, Nov. 17, 2015–Aubin, Dena
A federal judge ruled that Bank of America and Nationstar must face breach-of-contract claims for allegedly reneging on promised loan modifications to hundreds of Pennsylvania borrowers whose mortgages they serviced.
DS News, Nov. 17, 2015–Honea, Brian
Borrower outreach events include HUD-approved housing counselors and mortgage servicers in order to give distressed borrowers a face-to-face meeting to work out a solution such as a permanent loan modification that will allow borrowers to remain in their homes.
