National Mortgage Professional, Oct. 8, 2015–Hall, Phil
The Consumer Financial Protection Bureau has found itself in the middle of three different political storms that continue to further divide the already rancorous fissures on Capitol Hill.
Category: Top National News
Late Payments on Home Equity Loans Hit Postcrisis Low
Mortgage Servicing News, Oct. 8, 2015–Wack, Kevin
U.S. homeowners continue to take advantage of rising house prices to dig themselves out of the hole created by the Great Recession.
MBA Regulatory Compliance Conference Speech
Mortgage Compliance Magazine, October, Page 31–Stevens, David
MBA President and CEO David Stevens addressed an audience of 900+ of the nation’s Regulatory Compliance Professionals and other industry professionals at the MBA Regulatory Compliance Conference that was held at Grand Hyatt Hotel in Washington, D.C.
Corker and Warner at BPC: GSE Reform Just Isn’t Going to Happen Soon
HousingWire, Oct. 6, 2015–Garrison, Trey
Seven years after Fannie Mae and Freddie Mac were placed into conservatorship, there is still a lack of consensus on how to reform the GSEs.
JPMorgan Buys More Mortgages from Other Lenders as Market Shrinks
Reuters, Oct. 7, 2015–Freed, Dan
JPMorgan Chase & Co, looking to stem falling revenue in its mortgage business as fewer Americans refinance, is increasingly buying loans from smaller lenders, a practice that competitors including Bank of America view as risky.
New York Attorney General Examining Private Equity Firm’s Mortgage Business
New York Times, Oct. 6, 2015–Goldstein, Matthew; Abrams, Rachel
The rapid growth of Caliber Home Loans, a mortgage company owned by the private equity giant Lone Star Funds, has led to a surge in consumer complaints. Now it has led to regulatory scrutiny of Caliber’s business practices.
Fifth Third Pays $85M to Settle Mortgage Fraud Suit
Cincinnati Enquirer Oct. 6, 2015–Coolidge, Alexander
Fifth Third admitted on Tuesday it improperly certified more than 1,400 mortgage loans it knew were defective as eligible for Federal Housing Administration insurance, costing taxpayers millions. Now, the Cincinnati-based regional bank will pay $85 million to settle a civil fraud claims, federal authorities said Tuesday.
Fannie Mae, Freddie Mac Offer Relief to South Carolina Flood Victims
HousingWire, Oct. 6, 2015–Lane, Ben
Both Fannie Mae and Freddie Mac are offering relief to the thousands of homeowners affected by the devastating floods in South Carolina.
Multifamily Mortgage Debt Tops $1 Trillion in 2Q
Housingwire, Oct. 2, 2015–Garrison, Trey
During the second quarter, multifamily mortgage debt outstanding topped $1 trillion for the first time, according to the Mortgage Bankers Association.
New Mortgage Rules and How to Make the Most of Them
New York Times, Oct. 2, 2015–Carrins, Ann
Beginning Saturday, applicants for most home mortgages will receive new forms from their lender that are intended to make it easier to review and compare loan offers. Along with the updated forms, new rules aimed at simplifying the borrowing process for consumers will also take effect.