The Lede

MBA News

Nominations Open for MBA Insights 2017 Tech All-Star Awards–Deadline Feb. 1
The Mortgage Bankers Association and MBA Insights are accepting nominations for the MBA Insights 2017 Tech All-Star Awards. Nominations will be accepted through Wednesday, Feb. 1.
Full Story

Top National News

Higher Prices Give Homeowners Billions More in Equity, But Mood is Soured by Rising Mortgage Rates
CNBC, Jan. 10, 2017--Olick, Diana In the first three quarters of 2016 alone, homeowners added $837 billion in total equity. But apparently those gains are not enough to counter the negative effects of rising mortgage rates.
Full Story
Post-Crisis Mortgage Success Stories
Mortgage Daily, Jan. 10, 2017--Garcia, Sam Several non-bank home lenders have risen from the ashes of the financial crisis to become some of the biggest players in the nation's new mortgage banking sector.
Full Story
Trump Team Signals It Will Oust CFPB’s Cordray
National Mortgage News, Jan. 12, 2017--McKendry, Ian; Berry, Kate Although Richard Cordray has a term that stretches until July 2018, Trump interviewed former Rep. Randy Neugebauer, R-Texas, for the CFPB spot on Wednesday, senior Trump spokesman Sean Spicer told reporters on a conference call.
Full Story
Ocwen Helps 75,000 Homeowners Avoid Foreclosure in 2016
National Mortgage Professional, Jan. 12, 2017 Modification programs include both the Department of the Treasury Home Affordable Modification Program, as well as proprietary modifications for those homeowners who did not qualify for a HAMP modification.
Full Story
Ted Tozer, Steward of Ginnie Mae for 7 Years, Departing
National Mortgage News, Jan. 13, 2017--Passy, Jacob As president of the secondary marketing agency, Tozer has helped the mortgage market to continue functioning and keep up with changes following the financial crisis. The incoming Trump administration has not yet picked a successor.
Full Story
Trump’s Treasury Secretary Pick Was Not a ‘Foreclosure King’
The Hill, Jan. 10, 2017--Crawford, Casey The author, CEO of Movement Mortgage, asserts that Stephen Mnuchin is being unfairly characterized ahead of his Senate confirmation hearing.
Full Story
Bankers Cry Foul Over CFPB’s Five-Star Complaint Rating System
National Mortgage News, Jan. 13, 2017--Berry, Kate Bankers are trying to stop the Consumer Financial Protection Bureau from allowing consumers to rank how companies handle complaints on a one- to five-star scale and to publish narratives of consumer experiences in an online public database.
Full Story
Moody’s Pays $864 Million to U.S., States over Pre-Crisis Ratings
Reuters, Jan. 14, 2017 The credit rating agency reached the deal with the Justice Department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the Justice department said in a statement.
Full Story
Premium Reduction May Give FHA Competitive Edge Over GSEs
National Mortgage News, Jan. 13, 2017--Collins, Brian The Federal Housing Administration program could see a $50 billion increase in single-family loan endorsements this year if a planned 25-basis-point annual premium cut goes into effect on Jan. 27.
Full Story
Legacy Foreclosures Hide Mortgage Successes
OurBroker.com, Jan. 16, 2017--Miller, Peter G. The latest foreclosure numbers understate some very good real estate news. First, the 2016 foreclosure figures wildly overstate the current condition of the real estate marketplace. It's much better than the numbers suggest,
Full Story
MSRs Being Auctioned on $1.4 Billion in GSE Loans
Mortgage Daily, Jan. 13, 2017 Mortgage servicing rights on Fannie Mae and Freddie Mac mortgages with an aggregate outstanding principal balance of $1.45 billion are being offered for sale.
Full Story
Trump’s Plan for Looser Housing Rules Likely to Include Mortgage Changes
Washington Examiner, Jan. 17, 2017--Lawler, Joseph HUD Secretary nominee Ben Carson's comments last week that burdensome regulatory and legal actions over the past five-plus years has left banks reluctant to extend credit was "helpful," said MBA President and CEO David Stevens.
Full Story
NJ Bank is First to Fail in 2017
Mortgage Daily, Jan. 16, 2017 On Friday, the New Jersey Department of Banking and Insurance reported that it seized and closed down Harvest Community Bank.
Full Story