The Lede
News and Trends
Stoffers: ‘Change is the Only Constant’
LOS ANGELES--The world is changing at an increasing rate, and servicing professionals need to be prepared, Brian Stoffers, CMB, CBRE Global President of Debt and Structured Finance and MBA Chair-Elect said here at the MBA Commercial/Multifamily Servicing & Tech Conference.
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Woodwell: Is CRE ‘Winter’ Coming?
LOS ANGELES--Commercial real estate is enjoying good times, but to paraphrase Game of Thrones, is Winter coming? MBA Vice President of Commercial Real Estate Research Jamie Woodwell shared his outlook for the sector here at the MBA Commercial/Multifamily Servicing & Technology Conference.
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MBA: 1Q Mortgage Delinquencies Increase; Foreclosure Inventories Remain Low
Mortgage delinquencies rose in the first quarter, the Mortgage Bankers Association reported last week, while foreclosure inventories remained at nearly 25-year lows.
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Loan Servicers Target Cyber Security Threats
LOS ANGELES--As cyber threats grow and evolve, loan servicers need to actively identify and neutralize attacks, panelists said here at the MBA Commercial/Multifamily Servicing and Technology Conference.
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Calabria: Housing Finance System Status Quo ‘Not an Option’
NEW YORK--Federal Housing Finance Agency Director Mark Calabria reiterated his vow to end the conservatorships of Fannie Mae and Freddie Mac and called for new legislation in Congress to address meaningful housing finance reform.
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Stoffers: ‘Change is the Only Constant’
LOS ANGELES--The world is changing at an increasing rate, and servicing professionals need to be prepared, Brian Stoffers, CMB, CBRE Global President of Debt and Structured Finance and MBA Chair-Elect said here at the MBA Commercial/Multifamily Servicing & Tech Conference.
Full Story
Woodwell: Is CRE ‘Winter’ Coming?
LOS ANGELES--Commercial real estate is enjoying good times, but to paraphrase Game of Thrones, is Winter coming? MBA Vice President of Commercial Real Estate Research Jamie Woodwell shared his outlook for the sector here at the MBA Commercial/Multifamily Servicing & Technology Conference.
Full Story
MBA: 1Q Mortgage Delinquencies Increase; Foreclosure Inventories Remain Low
Mortgage delinquencies rose in the first quarter, the Mortgage Bankers Association reported last week, while foreclosure inventories remained at nearly 25-year lows.
Full Story
Loan Servicers Target Cyber Security Threats
LOS ANGELES--As cyber threats grow and evolve, loan servicers need to actively identify and neutralize attacks, panelists said here at the MBA Commercial/Multifamily Servicing and Technology Conference.
Full Story
Calabria: Housing Finance System Status Quo ‘Not an Option’
NEW YORK--Federal Housing Finance Agency Director Mark Calabria reiterated his vow to end the conservatorships of Fannie Mae and Freddie Mac and called for new legislation in Congress to address meaningful housing finance reform.
Full Story
Stoffers: ‘Change is the Only Constant’
LOS ANGELES--The world is changing at an increasing rate, and servicing professionals need to be prepared, Brian Stoffers, CMB, CBRE Global President of Debt and Structured Finance and MBA Chair-Elect said here at the MBA Commercial/Multifamily Servicing & Tech Conference.
Full Story
Woodwell: Is CRE ‘Winter’ Coming?
LOS ANGELES--Commercial real estate is enjoying good times, but to paraphrase Game of Thrones, is Winter coming? MBA Vice President of Commercial Real Estate Research Jamie Woodwell shared his outlook for the sector here at the MBA Commercial/Multifamily Servicing & Technology Conference.
Full Story
MBA: 1Q Mortgage Delinquencies Increase; Foreclosure Inventories Remain Low
Mortgage delinquencies rose in the first quarter, the Mortgage Bankers Association reported last week, while foreclosure inventories remained at nearly 25-year lows.
Full Story
Loan Servicers Target Cyber Security Threats
LOS ANGELES--As cyber threats grow and evolve, loan servicers need to actively identify and neutralize attacks, panelists said here at the MBA Commercial/Multifamily Servicing and Technology Conference.
Full Story
Calabria: Housing Finance System Status Quo ‘Not an Option’
NEW YORK--Federal Housing Finance Agency Director Mark Calabria reiterated his vow to end the conservatorships of Fannie Mae and Freddie Mac and called for new legislation in Congress to address meaningful housing finance reform.
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ATTOM: April Foreclosure Activity Down 13%
ATTOM Data Solutions, Irvine, Calif., said foreclosure filings, including default notices, scheduled auctions and bank repossessions, fell by 5 percent in April from March and by 13 percent from a year ago.
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MBA News
Mortgage Servicers Earn MBA Education CCMS Designation
LOS ANGELES--Eight mortgage servicers earned Certified Commercial Mortgage Servicer designations here at the Mortgage Bankers Association CREF Servicing and Technology Conference.
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Mortgage Servicers Earn MBA Education CCMS Designation
LOS ANGELES--Eight mortgage servicers earned Certified Commercial Mortgage Servicer designations here at the Mortgage Bankers Association CREF Servicing and Technology Conference.
Full Story
Mortgage Servicers Earn MBA Education CCMS Designation
LOS ANGELES--Eight mortgage servicers earned Certified Commercial Mortgage Servicer designations here at the Mortgage Bankers Association CREF Servicing and Technology Conference.
Full Story
Top National News
Fannie, Freddie Need Strong Capital Position to Exit Conservatorship: FHFA Chief
National Mortgage News, May 14, 2019--Hannah Lang (subscription)In his first public policy discussion as director of the Federal Housing Finance Agency, Mark Calabria stressed that a strong capital position will determine the future for Fannie Mae and Freddie Mac, eventually helping to lead them out of conservatorship.
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Mortgage Borrowers Win Protection in Ditech Bankruptcy; Ditech Fights Back
HousingWire, May 14, 2019--Jessica GuerinThe long and winding saga of Ditech's bankruptcy continues, as the U.S. Trustee grants a request to create a committee to protect consumer interests in the proceedings. But not long after the petition was granted, Ditech filed a motion objecting to such a committee, asking that it be disbanded or, alternatively, that the scope of its involvement be limited.
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Gap Between Democrats, GOP on Bank Regulation Wide as Ever
American Banker, May 15, 2019--Neil Haggerty (subscription)Nearly nine years after the passage of the Dodd-Frank Act, Republican and Democratic lawmakers still live in alternative universes when it comes to financial regulatory policy.
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Rise in Hurricane Recovery Times Could Strain Mortgage Servicers
National Mortgage News, May 15, 2019--Brad Finkelstein (subscription)The potential for longer homeowner recovery times from hurricanes could hurt mortgage companies that need to advance funds to investors from missed payments.
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U.S. Poised to Let Phone Companies Block Robocalls
Wall Street Journal, May 15, 2019--Ryan Tracy, Sarah Krouse (subscription)Responding to widespread consumer complaints, the Federal Communications Commission says it will take steps to give phone companies permission to block unwanted robocalls.
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Wells Fargo Moves Closer to Recouping Some Losses Tied to Scandal
American Banker, May 16, 2019--Kevin Wack (subscription)A federal judge has given preliminary approval to the proposed $240 million settlement of a lawsuit in which Wells Fargo stands to recover for financial losses the bank incurred as a result of its phony-accounts scandal.
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‘Absolutely Devastating’ to Small Lenders: Lawmakers Lay into CECL
National Mortgage News, May 16, 2019--Neil Haggerty (subscription)At a hearing with banking regulatory chiefs Thursday, criticism by members of the House Financial Services Committee about the Financial Accounting Standards Board's Current Expected Credit Loss standard ranged from calling for a delay in its implementation to suggesting legislation that would stop the new standard from taking effect.
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MBA’s Broeksmit Seeks Increased Action on Housing Policy Changes
National Mortgage Professional, May 20, 2019--Phil HallBob Broeksmit, president and CEO of the Mortgage Bankers Association, challenged both Congress and federal regulators to ratchet up efforts in enacting sweeping new housing policy changes.
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Opinion When Will Non-QM Loans and HELOCs Take Off?
National Mortgage News, May 20, 2019--Christopher Whalen (Free content)As the Mortgage Bankers Association convenes its annual secondary market conference in New York, one of the big questions on the minds of many mortgage bankers, warehouse lenders and vendors is whether the market for nonagency or non-qualified mortgages, including home equity lines of credit, will really start to grow as an asset class.
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CFPB’s Assistant Enforcement Chief Resigns
National Mortgage News, May 20, 2019--Kate Berry (subscription)Kristen Donoghue, the assistant director for enforcement at the Consumer Financial Protection Bureau, has resigned, sources said.
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Trump Says Looking at Alternatives to Fannie Mae, Freddie Mac
Reuters, May 17, 2019--Roberta Rampton President Donald Trump said on Friday his administration was looking at alternatives to the conservatorship of mortgage giants Fannie Mae and Freddie Mac.
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California Man Sentenced to 13 Years in Mortgage Fraud Scheme
National Mortgage Professsional, May 17, 2019California Attorney General Xavier Becerra announced sentencing of Andrew Valles for operating a $2 million mortgage fraud scheme throughout Southern California. Valles was sentenced to 13 years in state prison, and restitution was ordered in the amount of $2.3 million.
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How Non-Qualified Lending Lives Up to Its 400% Growth Expectation
National Mortgage News, May 17, 2019--Paul Centopani (subscription)The market for non-qualified mortgages has been robust thus far in 2019, offering a pragmatic option for otherwise viable borrowers, as long as lenders stay vigilant about pushing the envelope too far.
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Treasury Official Hired to Fix Fannie and Freddie Is Leaving
New York Times, May 16, 2019--Emily FlitterWhen Craig S. Phillips, a veteran Wall Street mortgage trader, agreed to join the Treasury Department as a top aide to Secretary Steven Mnuchin in 2017, his mandate was to overhaul the way that American home loans are guaranteed and then traded by the federal government. More than two years later, with that ambitious agenda far from fruition, Mr. Phillips is returning to the private sector.
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Industry Reacts: Lawmakers Introduce Guaranteed Fee Bill
MReport, May 15, 2019--Seth Wellborn"Guarantee fees are a critical risk management tool used by Fannie Mae and Freddie Mac to protect against losses," said MBA President and CEO Robert Broeksmit, CMB. "Any increase of these fees that is not related to housing is effectively a tax on home ownership."
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U.S. Mortgage Delinquencies Rose in First Quarter from 18-Year Low at Year End–MBA
Reuters, May 14, 2019--Richard LeongThe number of U.S. homeowners who fell behind on their mortgage payments climbed in the first quarter from an 18-year low at the end of 2018, while the share of mortgages at the start of foreclosure actions slipped, the Mortgage Bankers Association said on Tuesday.
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