HousingWire, Nov. 2, 2015–Swanson, Brena
A report from Black Knight Financial Services appears to show that the average credit score for refinance applications is loosening. However, with further investigation, the truth is that there is only a decrease in the number of high credit score borrowers since most of them likely already refinanced and taken advantage of the low interest rates.
Housing Wire, Oct. 30, 2015–Lane, Ben
For all the sound and fury surrounding the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule earlier this month, early indications are that TRID isn’t actually going to have any impact on the lifeblood of the mortgage business–originations.
Phoenix Business Journal, Nov. 1, 2015–O’Grady, Patrick
Bank of America Corp. will pay $335 million in a settlement for a lawsuit that it misled investors regarding its mortgage-related activity.
HousingWire, Oct. 29, 2015–Fratantoni, Mike
MBA chief economist said those looking for the next housing bubble need to study the current regulatory environment and household formation trends suggest such concerns are exaggerated.
National Mortgage News, Oct. 29, 2015–Heltman, John
A major investor in insurance giant American International Group is calling on the company to break itself up into three companies to get out from under its designation as one of only four systemically risky nonbanks.
Housing Wire, Oct. 29, 2015–Lane, Ben Several of the largest civil rights groups in the country are joining together to call on the federal government to end the conservatorship of Fannie Mae and Freddie Mac and recapitalize the agencies, stating that an independent and fully capitalized Fannie Mae and Freddie Mac can better serve the country’s housing needs.
National Mortgage News, Oct. 28, 2015–Wack, Kevin
The U.S. government recently handed down strong new rules designed to protect consumers from unwanted robo-calls. But maybe some robo-calls aren’t so bad. Like debt-collection calls in cases where the debt happens to be backed by Uncle Sam.
HousingWire, Oct. 27, 2015–Lane, Ben
Anthony Albanese, acting superintendent of the New York Department of Financial Services will step down later this year, amidst rumors of tension between the NYDFS and the office of New York Governor Andrew Cuomo.
Green Building Elements, Oct. 25, 2015–Hanley, Stephen
Because the PACE loan is included in the taxes on the property, it has priority over the first mortgage in the event of default. “There is a general principle in mortgage banking: first in time, first in line,” said Pete Mills, senior vice president with the Washington-based Mortgage Bankers Association. “Taxing authorities are always a risk of jumping ahead, but that’s a far different matter than a private company selling energy improvements being able to jump ahead.”
National Mortgage News, Oct. 23, 2015–Collins, Brian
Legislation would require GAO to study the impact the Federal Housing Finance Agency membership rule would have on the Federal Home Loan Bank System and its members.
