The Lede

MBA News

Top National News

Flip-O-Rama! House Flipping Hits Six-Year High!
National Mortgage Professional, Sept. 15, 2016--Hall, Phil ATTOM Data Solutions said 51,500 homes flipped in second quarter.
Full Story
MBS Issuance at All-Time High at Ginnie Mae
Mortgage Daily, Sept. 19, 2016 $48.4 billion in MBS issuance during August.
Full Story
GSEs to Raise Conforming Loan Limits in 2017?
HousingWire, Sept. 19, 2016--Ramirez, Kelsey FHFA housing price index at 2007 levels, which could trigger an increase.
Full Story
Fannie Raises Refi Forecast, Cuts Purchase
Mortgage Daily, Sept. 19, 2016 Q3 total mortgage production projected at $519 billion.
Full Story
GSE Reform Should Follow Ginnie Mae Model: Tozer
National Mortgage News, Sept. 19, 2016--Sichelman, Lew Next administration must act swiftly to move reform of Fannie Mae and Freddie Mac off dead center, and Ginnie Mae President Ted Tozer suggested that the model for a new secondary market is already in place.
Full Story
Lenders Have Adjusted to New Mortgage Rules: CFPB
National Mortgage News, Sept. 19, 2016--Collins, Brian MBA President and Chief Executive David Stevens said that a lot of the CFPB rules required by the Dodd-Frank Act have been implemented. "They are working well. Homeownership is expanding," he said.
Full Story
Lenders Giving Residential Mortgage-Backed Securities a Rehab
Pensions & Investments, Sept. 19, 2016--Jacobius, Arleen Lenders try to reassure investors that securitization issues of the Great Recession have subsided.
Full Story
Modification Program Activity Rises in Second Quarter: Treasury
National Mortgage News, Sept. 16, 2016--Passy, Jacob Activity under the Making Home Affordable program increased in the second quarter thanks to the introduction of the Streamline Home Affordable Mortgage Program.
Full Story
Lawmakers Intensify Pressure on Wells Fargo
Wall Street Journal, Sept. 16, 2016--Hayashi, Yuka House Panel Starts Investigation, Democratic Senators suggest clawback of some of bank's executive compensation.
Full Story
Deutsche Bank to Fight $14 Billion Demand from U.S. Authorities
Reuters, Sept. 16, 2016--Schuetze, Arno Justice Department says bank missold mortgage-backed securities. 
Full Story
HUD Proposed Rule Would Bring ‘Catastrophic Losses’ to Reverse Mortgages
Reverse Mortgage Daily, Sept. 18, 2016--Oliva, Jason MBA, NRMLA and other industry groups urged HUD to maintain current guidelines regarding a mortgagee's election of loan assignment.
Full Story
‘Heartless’ U.S. Mortgage Modification Scheme Leads to 16-Year Prison Term
Reuters, Sept. 15, 2016--Raymond, Nate Former sales manager of Vortex Financial defrauded 30,000 homeowners out of $31 million.
Full Story
Federal Judge Dismisses Another GSE Shareholder Lawsuit
National Mortgage News, Sept. 15, 2016--Collins, Brian Kentucky district court judge rules that the courts cannot interfere with the GSE regulator's wind down of Fannie Mae and Freddie Mac. 
Full Story
Ocwen Mortgage Modifications Double
Mortgage Daily, Sept. 15, 2016 Government-supported loan modifications at Ocwen Loan Servicing has recently doubled and is expected to remain robust. 
Full Story
PNC Chief Acknowledges HEL Process Too Slow
Pittsburgh Post-Gazette, Sept. 15, 2016--Sabatini, Patricia PNC CEO Will Demchak said bank's application, approval process cumbersome.
Full Story
Top U.S. Commercial, Multifamily Mortgage Servicers Revealed by MBA
World Property Journal, Sept. 13, 2016--Rachid, Monsef Wells Fargo Bank N.A. with $502.2 billion in U.S. master and primary servicing, leads servicer rankings.
Full Story
New Laws Haven’t Made Big Banks Safer, Paper by Lawrence Summers Says
Wall Street Journal, Sept. 15, 2016--Davidson, Kate Former Treasury secretary, co-author say stock prices don't reflect decreased risk of failure.
Full Story
Mastered the CFPB’s 900-Page Mortgage Servicing Rule Yet?
HousingWire, Sept. 15, 2016--Swanson, Brena Servicers have one year to study and master the Consumer Financial Protection Bureau's new rule. There will be a test.
Full Story
Why Democrats Washed Their Hands of House Reg Relief Bill
National Mortgage News, Sept. 15, 2016--McKendry, Ian By not offering amendments, Democrats were able to spare members some tough votes on specific issues and not tip their hand on potential compromises further down the road.
Full Story
Why the Surge in PMI Activity Won’t Force FHA to Cut Premiums Anytime Soon
Urban Institute, Sept. 15, 2016--Kaul, Karan Given "pristine quality" of today's mortgages, author says FHA not likely to cut premiums.
Full Story
New York Unveils Sweeping Cybersecurity Regulations
HousingWire, Sept. 14, 2016--Lane, Ben Banks, financial services industry will be required to amp up security.
Full Story
Mortgage Layoff Notices Plunge, Banks Continue
Mortgage Daily, Sept. 14, 2016--Garcia, Sam Volume of layoff notices by mortgage-related businesses has significantly slowed as of late.
Full Story
Bankers Endorse Finding That Fed Stress Tests Likely Illegal
Wall Street Journal, Sept. 15, 2016--Tracy, Ryan Committee on Capital Markets report is latest evidence some in the banking industry are contemplating a potential lawsuit.
Full Story
Why Mortgage Delinquency Rates are Dropping
KDSK (St. Louis), Sept. 14, 2016 MBA Vice President Jamie Woodwell says as property values increase, mortgage fundamentals increase as well.
Full Story
Mortgage Bankers Lift Q4 Refinance Forecast
Mortgage Daily, Sept. 14, 2016 MBA projects home lending volume to reach $561 billion in third quarter.
Full Story
MGIC Eases Credit Score Requirements
Mortgage Daily, Sept. 13, 2016 Changes to lending requirements at MGIC will make it easier for some applicants with limited credit to qualify for a mortgage.
Full Story
Spitzer’s Trial Against Hank Greenberg Finally Begins
Wall Street Journal, Sept. 13, 2016--Scism, Leslie The former AIG CEO's trial gets under way 11 years after Elliott Spitzer, New York Attorney General at the time, filed suit.
Full Story
Foreclosure Inventory at Nine-Year Low
National Mortgage Professional, Sept. 13, 2016--Hall, Phil Inventory plummets 29 percent from year ago, CoreLogic said.
Full Story
CFPB Reform ‘Dead on Arrival’ Thanks to Wells Fargo
American Banker, Sept. 13, 2016--Blackwell, Rob; McKendry, Ian House Democrats said $185 million judgment against lending giant "clinched" case against Republican-led effort to reform Consumer Financial Protection Bureau.
Full Story
House Republicans Pass Dodd-Frank Overhaul
Scotsman Guide, Sept. 13, 2016--Whitman, Victor H.R. 5983, the Financial CHOICE Act, passed along party lines in the House Financial Services Committee.
Full Story
Regions to Pay $52.4 Million to Settle FHA-Insured Mortgage Matters
Wall Street Journal, Sept. 13, 2016--Stynes, Tess Arrangement settles previously disclosed government probe.
Full Story
Fannie Mae: More Mortgage Lenders Control their Compliance Costs
HousingWire, Sept. 16, 2016--Ramirez, Kelsey Nearly one-third of lenders said they expected their firm's profit margin to increase over the next three months.
Full Story