Miami Today, Jan. 5, 2016–Vianna, Carla
The 2010 law has strung banks along a regulatory rollercoaster for five years, paving the way for new agencies and requirements that changed the way the nation’s banks operated. This year, more regulations are expected from the five-year-old law.
National Mortgage News, Jan. 11, 2016–Macheel, Tanaya
The commercial mortgage-backed securities delinquency rate finished 2015 at a six-year low, said Fitch Ratings.
GlobeSt.com, Jan. 12, 2016–Bubny, Paul
Insurers’ allocations to commercial mortgages showed a slight increase for the first six months of 2015 compared to year-end 2014, while the delinquency rate among these mortgages is bested only by Fannie Mae and Freddie Mac, according to recent figures from the Mortgage Bankers Association.
Wall Street Journal, Jan. 11, 2016–Kendall, Brent; Mitchell, Josh
The Supreme Court on Monday turned away an appeal that sought to make it easier to erase student loans in bankruptcy, sidestepping an issue that has become a focal point for consumer advocates and lawmakers as millions of borrowers fall behind on their payments.
HousingWire, Jan. 12, 2016–Swanson, Brena
The latest update on JPMorgan Chase’s RMBS settlement shows it is nearing its $4 billion requirement in credited consumer relief.
National Mortgage News, Jan. 11, 2016–Peters, Andy
Walker & Dunlop has agreed to acquire the other half of a commercial mortgage-backed securities joint venture it has with Fortress Investment Group.
NASDAQ, Dec. 23, 2015
New consumer-disclosure requirements are doing more than delaying closings of some home loans. Now the mortgage industry is sounding a bigger alarm, claiming some investors are refusing to buy certain loans once they close because of potential compliance failures. Pete Mills, the Mortgage Bankers Association’s senior vice president of residential policy, said lenders want the Consumer Financial Protection Bureau to clarify whether “technical” errors can be fixed by lenders without incurring a penalty.
MinnPost, Dec. 23, 2015–Beal, Dave
During the 2007-09 financial crisis, it was almost impossible to get a home loan without a guarantee from Fannie Mae or Freddie Mac. Now, seven years after the federal government bailed them out, they are still the dominant players in home mortgage finance.
National Mortgage News, Dec. 23, 2015–Berry, Kate
Freddie Mac is one-upping Fannie Mae by offering to retain some home loans that have defects but without requiring that mortgage lenders pay a fee.
HousingWire, Dec. 22, 2015–Lane, Ben
Long the target of regulators and consumers due to its mortgage servicing practices, Ocwen Financial finds itself in a unique position in a new report from the Consumer Financial Protection Bureau: it is the only company in the top ten most-complained-about companies that saw its complaints drop over the same period last year.
