Wall Street Journal, Oct. 17, 2015–Karmin, Craig; Brown, Eliot
A banker and a former politician from Kazakhstan tried to launder tens of millions of dollars of stolen money through New York real-estate holdings, a civil lawsuit alleges.
Category: Top National News
Why the Federal Government Now Holds Nearly 50% of All Residential Mortgages
MarketWatch, Oct. 16, 2015–Goldstein, Daniel
Mortgage lending levels are beginning to recover from the real estate crash of the Great Recession, few outside the government want to buy it. “Many investors don’t believe there is enough protection to make it worthwhile to invest in mortgage-backed securities,” David Stevens, president and CEO of the Mortgage Bankers Association.
Deepak Narula: Time to Wind Down Fannie and Freddie
Bloomberg, Oct. 15, 2015
Deepak Narula, founder of Metacapital Management, discusses the state of Fannie Mae and Freddie Mac and why this is the time to wind down the programs.
Government-Backed Mortgage Lenders are the Definition of Too Big to Fail; Too Bad We Need Them More than Ever
Washington Post, Oct. 15, 2015–McLean, Bethany
The author of Shaky Ground: the Strange Saga of the Mortgage Giants said Fannie Mae and Freddie Mac agglomerated too much power before going bust, but simply getting rid of them is not practical.
Insecure Homes: Fannie Mae’s New Rules Will Help Until They Hurt
Pittsburgh Post-Gazette, Oct. 15, 2015–Editorial Board
New mortgage regulations promise greater transparency in what consumers pay for a home loan. This editorial says one change may let some people acquire mortgages with payments they may not be able to afford in a few years.
Foreclosures Up, Rates Inert, Fraud Risk Falls
National Mortgage Professional, Oct. 15, 2015–Hall, Phil
There was one major nasty surprise, one big non-surprise and one nice mid-sized surprise awaiting mortgage professionals in today’s data reports.
With TRID Regs in Place, Mortgage Industry Braces for What’s Next
National Mortgage News, Oct. 13, 2015–Sinnock, Bonnie
Strategies that help mortgage lenders get a handle on final Dodd-Frank Act implementation costs and better reach the next generation of homeowners will be among the hot topics discussed during the 2015 Mortgage Bankers Association’s Annual Convention.
GE to Sell Commercial Lending, Leasing Businesses to Wells Fargo
Wall Street Journal, Oct. 13, 2015–Mann, Ted; Glazer, Emily
General Electric Co. agreed to sell a major chunk of its U.S. commercial lending business to Wells Fargo & Co., a milestone in the company’s rapid exit from financial services that could allow it to shed a tough regulatory regime.
CMBS Delinquencies Fell from August to September: Fitch
Mortgage Servicing News, Oct. 13, 2015–Peters, Andy
The commercial mortgage-backed securities delinquency rate fell from August to September, according to Fitch Ratings.
New Rules Make Mortgage Paperwork Simpler, But Slower
USA Today, Oct. 18, 2015–Huang, Jayue
The days of slogging through four overlapping, complex mortgage disclosure forms are gone. The new Know Before You Owe rules aim to clear up the confusion.