The Lede
News and Trends
CoreLogic: June Foreclosures Up Slightly; Inventory Lowest Since 2007
MBA to Release 2nd Quarter National Delinquency Survey Thursday
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Q/A with Rick Glass of Rick Glass Executive Search
'Avoid Pitfalls in Senior Executive Hiring'
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ATTOM: ‘Seriously Underwater’ Properties Shrink by 776,000 from Year Ago
MBA Releases 2nd Quarter National Delinquency Survey Today
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MBA News
MBA Risk Management, QA & Fraud Prevention Forum Sept. 28-30
The Mortgage Bankers Association's Risk Management, Quality Assurance & Fraud Prevention Forum 2016 takes place Sept. 28-30 at the JW Marriott at L.A. LIVE in Los Angeles.
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MBA Regulatory Compliance Conference Sept. 18-20
The Mortgage Bankers Association's annual Regulatory Compliance Conference takes place Sept. 18-20 at the Grand Hyatt Washington in Washington, D.C.
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MBA Education New Developments in Mortgage Performance Data and Analytics Webinar Aug. 16
Overview of Mortgage Data, Analytics and Performance Factors
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Top National News
Home Equity Loans Come Back to Haunt Borrowers, Banks
Wall Street Journal, Aug. 11, 2016--Andriotis, Annamaria
Cost of HELOCs take out before housing bust leading to delinquencies.
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What Happens When The Mortgage-Servicing Rule Tops The 2,081 Page Count
Value Walk, Aug. 15, 2016--Petrou, Karen
Rules should protect consumers--but lenders also want their money back.
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AIG Reaches Deal to Sell Mortgage-Insurance Unit to Arch Capital for About $3.4 Billion
Wall Street Journal, Aug. 15, 2016--Scism, Leslie; Lublin, Joann S.
Insurance giant has been speeding up return of cash to restive shareholders.
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Favorable HOA Super Lien Ruling for Lenders
Mortgage Daily, Aug. 15, 2016
Federal appeals court ruling could impact hundreds of HOA super liens in Nevada courts.
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Mortgage Servicing Compliance in the Storm’s Path
Mortgage Compliance Magazine, Aug. 15, 2016
Wave of recent compliance rules/regulations underlines importance of good compliance management system.
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PwC Sued for Record $5.5bn for Negligence in Mortgage Fraud Case
The Independent (U.K.), Aug. 15, 2016--Nesmith, Susannah; Pearson, Sophia
World's biggest financial services firm accused of negligence for failing to spot multi-billion dollar fraud over seven years.
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Reverse Mortgages Get a Second Look in Retirement
Detroit Free Press, Aug. 14, 2016--Tompor, Susan
New rules protect borrowers from taking too much money out of house.
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Private Mortgage Insurance Explodes, Passes FHA
HousingWire, Aug. 12, 2016--Lane, Ben
PMI share at 37% in 2Q; FHA share falls to 34%.
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Captive Insurer Ban Takes Toll on Some Home Loan Banks
National Mortgage News, Aug. 11, 2016--Collins, Brian
Federal Housing Finance Agency rule will force some FHLB members out.
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Over $1.5 Billion in GSE MSRs Up for Bid
Mortgage Daily, Aug. 11, 2016
Offering includes 8,820 government-sponsored enterprise loans.
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Walter Investment MSR Sale Drives Public Offering
Mortgage Daily, Aug. 11, 2016
New Residential had acquired mortgage servicing rights to $70 billion in Walter loans.
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Walter Investment Sells $535 Million in Mortgage Servicing Rights
HousingWire, Aug. 9, 2016--Ramirez, Kelsey
New Residential Investment will pay $231 million for MSRs and assets of Walter Capital Opportunity, subsidiaries.
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Ocwen Rising: S&P Upgrades Nonbank’s Servicer Rankings
HousingWire, Aug. 10, 2016--Lane, Ben
Agency notes more than dozen "key changes" to company's operations since last review.
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Nationstar Returns with Sixth Reverse Mortgage ABS
National Mortgage News, Aug. 10, 2016--Fest, Glen
Third securitization this year.
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Fannie Mae, Freddie Mac Set New All-Time Low Mortgage Modification Interest Rate
HousingWire, Aug. 10, 2016--Lane, Ben
Benchmark rate now more than one full percentage point lower than it was in 2012.
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Morgan Stanley Credited by Monitor with $10.5M in Relief
National Mortgage News, Aug. 10, 2016--Passy, Jacob
Independent monitor okays settlement with New York.
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Most CFPB Small Business Panelists Disagree with Agency Rules: GAO
National Mortgage News, Aug. 10, 2016--Berry, Kate
Government Accountability Office says small businesses generally disagree with Bureau's rules.
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Servicing Gets Cheaper and Cheaper
Market Realist, Aug. 10, 2016--Nyitray, Brent
Lower rates, increased prepayments affect servicing valuations.
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Clean Energy Home Loans Have Problems
Tallahassee (Fla.) Democrat, Aug. 10, 2016--Ryan, Terry
Founder of local solar electric initiative cites MBA concerns over FHA Property Assessed Clean Energy program.
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Bankers Charged With TARP Crimes Reach 80
Mortgage Daily, Aug. 9, 2016
More than 199 have faced civil or criminal charges.
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Mortgage Debt Declines in Consumer Debt Picture
MReport, Aug. 9, 2016--Honea, Brian
New York Fed says while household debt increased in 2Q, mortgage debt fell.
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