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Tough competition drives negative mortgage lender profit outlook

Thu, 12/28/2017 - 11:59
Most housing finance companies are preparing to fight for a dwindling number of loans and operate on thinner margins.

2018 Origination Outlook: Expect more non-QM lending to replace lost refis

Thu, 12/28/2017 - 11:59
Lending outside the qualified mortgage rule will likely become more prominent in 2018, as originators continue to struggle to replace lost refinance volume and their compliance and risk management processes become more robust.

Senate confirms HUD nominees, but not Montgomery for FHA

Thu, 12/28/2017 - 08:58
Sen. Elizabeth Warren, D-Mass., and four other Democrats on the Senate Banking Committee are insisting on a recorded vote by the full Senate for the nomination of Brian Montgomery as Federal Housing Administration commissioner.

Top banks' mortgage performance unchanged in 3Q: OCC

Thu, 12/28/2017 - 08:58
The seven largest national banks held less than 5% of loans that were delinquent at the end of the third quarter, the Office of the Comptroller of the Currency said Friday.

Judge casts doubt on CFPB deputy's claim to head agency

Thu, 12/28/2017 - 08:58
A federal judge appeared to be leaning toward siding with President Trump during oral arguments Friday in a case in which Consumer Financial Protection Bureau Deputy Director Leandra English is challenging the president's ability to appoint Mick Mulvaney as acting director.

Alteryx breach adds to mortgage fraud risks

Thu, 12/28/2017 - 08:58
A breach at Alteryx that exposed sensitive information from more than 100 million U.S. households could add to fraud risks in housing finance

Serious delinquencies mount in hurricanes' wake

Thu, 12/28/2017 - 08:58
Hurricanes Harvey and Irma contributed to a surge in seriously delinquent mortgages in November.

Program offers no-interest loans to residents facing foreclosure

Thu, 12/28/2017 - 08:58
Michigan residents are being urged to take advantage of a federally-funded state program designed to prevent foreclosures, while the money is still available.

Trump signs $1.5 trillion tax cut

Thu, 12/28/2017 - 08:58
The legislation and public perceptions of it are expected to play a major role in 2018 elections that will determine whether Republicans retain control of Congress.

New-home sales surge in November to highest since 2007

Thu, 12/28/2017 - 05:57
Purchases of new homes unexpectedly surged in November to the highest level since before the last recession, indicating resilient demand, according to government data.

UBS ordered to pay $903,000 for firing mortgage market analyst

Wed, 12/27/2017 - 11:25
Former top commercial mortgage-backed securities strategist Trevor Murray accused the Swiss lender of illegally firing him in 2012 for blowing the whistle on attempts by traders to influence his research reports.

Credit union trade groups cheer CFPB's moves on HMDA, prepaid rules

Wed, 12/27/2017 - 08:23
The regulator on Thursday announced a delay in the implementation of its prepaid rule, along with safe harbor for HMDA data reporting.

People on the move: Dec. 22

Wed, 12/27/2017 - 05:21
Mortgage industry hiring and new job appointments for the week ending Dec. 22.

Renovate America doubles borrowing capacity under bank credit facility

Tue, 12/26/2017 - 13:59
A second bank, M&G Prudential, had joined the deal agent, ING Capital, boosting capacity to $80 million from $40 million.

Wisconsin home sales on track for record year

Tue, 12/26/2017 - 13:59
November sales of existing homes in Wisconsin rose 4.2%, keeping the state on track for a record year, according to the Wisconsin Realtors Association.

Million-dollar home sales are soaring in Texas and DFW

Tue, 12/26/2017 - 13:59
Million-dollar home sales in North Texas are continuing to outpace the market.

CFPB to reopen mortgage disclosure rule, will not penalize data errors

Tue, 12/26/2017 - 10:54
The Consumer Financial Protection Bureau said Thursday that it plans to reopen its rulemaking for the Home Mortgage Disclosure Act and will not assess penalties against mortgage lenders for any errors in data collected in 2018.

How tax bill will change consumers' financial behavior

Tue, 12/26/2017 - 10:54
Earlier versions of the bill would have caused bigger changes in how Americans finance home purchases, higher education and retirement. Still, the final legislation will have important effects on borrowing and saving decisions.

DoubleLine to make its own brand of mortgage-backed securities

Tue, 12/26/2017 - 10:54
DoubleLine Capital is embarking on a plan to originate and securitize mortgages, seeking to fill a niche that has traditionally belonged to banks and brokerage firms.

Four takeaways from deal to prop up GSEs

Tue, 12/26/2017 - 10:54
The announcement Thursday that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency Director Mel Watt agreed to let Fannie Mae and Freddie Mac each build a $3 billion capital buffer avoided a potential crisis.