Reuters, Mar. 30, 2023–David LawderTreasury Secretary Janet Yellen said on Thursday that banking regulation and supervisory rules need to be re-examined in the wake of the Silicon Valley Bank and …
Category: Top National News
Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk
National Mortgage Professional, Mar. 30, 2023–David Krechevsky“A major disruption or failure of a large mortgage servicer really gives me a nightmare,” Chopra said Tuesday during CBA Live 2023, a conference …
Scarcer Debt for CRE Under Scrutiny
CommercialSearch, March 30, 2023–Fotios TsarouhisThe aftershocks of March’s financial tumult, from the collapse of Silicon Valley Bank and Signature Bank, to the regulator-arranged proposed takeover of Credit Suisse by UBS, …
CFPB Asking Questions About ‘Capital Liquidity Resilience’ of Servicers
Inside Mortgage Finance, Mar. 29, 2023–Sam ManasWith a nod toward the collapse of Silicon Valley Bank and the ensuing liquidity crisis, Consumer Financial Protection Bureau Director Rohit Chopra this week …
Fidelity National Financial To Pay N.Y. $3.5M, End ‘No-Poach’ Deals
National Mortgage Professional, Mar. 29, 2023–David KrechevskyNew York Attorney General Letitia James said Wednesday the agreement was the result of an investigation by her office that discovered that Fidelity and …
MBA Raises Concerns About SEC Proposal on Securitization
Inside Mortgage Finance, Mar. 28, 2023–Brandon IveyA proposed rule from the Securities and Exchange Commission regarding conflicts of interest in securitizations could cause serious problems for residential finance participants, according …
MBA’s Broeksmit: Media Coverage of CRE and Financial Stress Doesn’t Capture “the Complete Picture”
ConnectCRE, Mar. 28, 2023–Paul BubnyMortgage Bankers Association President and CEO Bob Broeksmit, CMB, said recent media coverage of uncertainty in commercial real estate markets hasn’t always provided an accurate picture. …
Scratch-and-Dent Volume Appears to Be on the Rise
National Mortgage News, Mar. 28, 2023–Brad Finkelstein (subscription)After two years of record mortgage volumes, the government-sponsored enterprises are finally checking the loans they purchased during this time frame to see …
Ocwen Petitions for Dismissal of HAMP Lawsuit in Appeals Court
National Mortgage News, Mar. 24, 2023–Bonnie Sinnock (subscription)Ocwen Financial filed a petition for writ of mandamus in the 5th U.S. Circuit Court of Appeals to dismiss a case involving representations …
Judge OKs Amended Lawsuit Claiming Predatory Lending By Wells Fargo
National Mortgage Professional, Mar. 27, 2023–David KrechevskyJudge Michael L. Brown of the U.S. District Court for the Northern District of Georgia, Atlanta Division, had previously dismissed the case but allowed …