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.
Category: Top National News
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.
Quicken Joins Freddie Mac to Offer Loans While Battling U.S.
Bloomberg,Oct. 19, 2015–Hopkins, Cheyenne
Quicken Loans Inc., the biggest U.S. online mortgage lender, is partnering with Freddie Mac to boost business among first-time and middle-income borrowers as it battles allegations over its past underwriting practices on Federal Housing Administration-backed mortgages.
Obama Officials Resist Calls to Release Fannie Mae, Freddie Mac
Bloomberg, Oct. 19, 2015–Hopkins, Cheyenne; Perlberg, Heather
A White House official said housing-finance reform is no longer expected in the near term as he dismissed investors’ calls for releasing Fannie Mae and Freddie Mac from government conservatorship.
White House Punts on Fannie-Freddie Fate
Wall Street Journal, Oct. 19, 2015–Light, Joe
Obama administration officials on Monday rejected calls to release Fannie Mae and Freddie Mac from government control, signaling that it could be up to the next president or Congress to resolve the mortgage giants’ fate.
Fannie and Freddie CEOs Say the GSEs are Changing
Scotsman Guide, Oct. 19, 2015–Whitman, Victor
Although comprehensive housing finance reform has been put on the back burner by Congress, mortgage giants Fannie Mae and Freddie Mac are being reformed from within, their chief executive officers said Monday.
Barclays Agrees to Settle Mortgage Lawsuits for $325 Million
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.