Category: Top National News

New York Times, Oct. 19, 2015–Bray, Chad
British bank Barclays said on Monday that it had agreed to pay $325 million to settle two civil lawsuits related to the sale of residential mortgage-backed securities in the United States.

National Mortgage Professional, Oct. 12, 2015–Hall, Phil
Last week, the Consumer Financial Protection Bureau announced that it was considering the introduction of a new regulation banning the so-called “free pass” arbitration clauses that prevent consumers from filing lawsuits in groups to obtain relief against financial services companies. But does the CFPB have the legal authority to overturn Supreme Court rulings related to arbitration? The answer, according to industry experts, depends on how you view the CFPB’s actions.

HousingWire, Oct. 12, 2015–Garrison, Trey
This marks the start of the second full week of the TILA-RESPA Integrated Disclosure rule, and it’s impacting real estate and mortgage finance at almost every point along the pipeline.

Wall Street Journal, Oct. 12, 2015–Cherney, Mike
Falling profits and increased borrowing at U.S. companies are rattling debt markets, a sign the six-year-long economic recovery could be under threat.

HousingWire, Oct. 9, 2015–Swanson, Brena
The Federal Housing Administration’s share of purchase mortgage insurance steadily declined since 2010 until 2015, the latest chart in the Mortgage Bankers Association’s chart series showed.

Urban Institute, Oct. 9, 2015–Goodman, Laurie
While the securitization of loans with government backing has remained strong or strengthened, the collapse of private-label securitization may have wide-reaching implications for the mortgage market. The disappearance of this market has affected the availability and cost of mortgages for one group of borrowers–those with less wealth and less than perfect credit who do not quality for government-backed loans.

HousingWire, Oct. 8, 2015–Swanson, Brena
Primary new mortgage insurance continued to drop and fell to $3.9 billion, according to MGIC Investment’s (MTG) September operational summery of its insurance subsidiaries for its primary mortgage insurance.

American Banker, Oct. 8, 2015–Collins, Brian
The House voted 303-121 on Wednesday to pass a bill that would delay enforcement of new mortgage disclosures that went into effect on Oct. 3.

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.

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.