National Mortgage News, Feb. 12, 2016–Berry, Kate
Fannie Mae and Freddie Mac have been selling pools of delinquent mortgages at auction to the highest bidders. Community groups say the Federal Housing Finance Agency should be giving preferential treatment to nonprofits and community development financial institutions.
Wall Street Journal, Feb. 5, 2016–Patrick, Margot
HSBC Holdings PLC agreed Friday to pay $470 million to settle federal and state allegations of abusive practices in its U.S. mortgage business.
Los Angeles Times, Feb. 6, 2016–Koren, James Rufus
Consumer advocates worry that the new crop of mortgage companies, particularly those with ties to now-defunct subprime lenders, may again take advantage of borrowers.
American Banker, Feb. 5, 2016–Pinto, Edward
The author, resident fellow with the American Enterprise Institute, said quickly amortizing mortgages would help achieve sustainable wealth-building homeownership opportunities for low- and middle-class Americans.
National Mortgage News, Feb. 5, 2016–Finkelstein, Brad
Genworth’s U.S. mortgage insurance business earned $179 million in 2015, but the parent company lost $615 million as it still has problems with its long-term care insurance product.
Chicago Post-Tribune, Feb. 4, 2016–Auch-Schultz, Teresa
Three Chicago businesspeople facing sentencing for taking part in a widespread mortgage fraud case say they shouldn’t have to pay restitution because of the careless practices by banks that led up to collapse of the real estate market.
New York Times, Feb. 3, 2016–Moyer, Liz
Wells Fargo agreed to pay $1.2 billion to put to rest claims that it engaged in reckless lending under a Federal Housing Administration program that left a government insurance fund to clean up the mess.
Reuters, Feb. 3, 2016–Stempel, Jonathan
Deutsche Bank AG must face a U.S. lawsuit seeking to hold it liable for causing $3.1 billion of investor losses by failing to properly monitor 10 trusts backed by toxic residential mortgages, a federal judge ruled on Wednesday.
Commercial Observer, Feb. 3, 2016–Balbi, Danielle
Whether or not life companies will eat up more of the lending pie this year remains to be seen, but it seems like there will be more room at the table soon enough.
U.S. News & World Report, Feb. 3, 2016–Mayotte, Betsy
It’s pretty clear that your student loan payments are going to affect how much and how quickly you’re able to save a down payment for your first home, as well as the affordability of your mortgage payments. But they can also affect your eligibility for the mortgage in the first place.
