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Last August, when the 10th U.S. Circuit Court of Appeals affirmed its previous decision that the National Credit Union Administration is not barred from proceeding with a suit alleging that Nomura duped a failed credit union into buying misrepresented mortgage-backed securities, Nomura wasn’t the only bank crushed by the ruling.
In the middle of last week, the U.S. Federal Reserve closed one of the most controversial chapters in its 101-year history by announcing the end of quantitative easing -- an unusual monetary program designed to drive down long-term interest rates and fuel the economy.
As the share of first-time homebuyers hovers at its lowest level in nearly three decades, real estate professionals remain optimistic that homeownership is due for a comeback.
Was quantitative easing successful? That question will be answered and unanswered hundreds if not thousands of times over the coming decades.
Consumer attitudes toward housing and the economy in general continued the slow improvement that has become the norm according to results from the October National Housing Survey.
Deputy Treasury Secretary Sarah Bloom Raskin drew a worrisome comparison between student loan servicers and home mortgage servicers, whose missteps were writ large during the financial crisis that began during the last decade.
Sles of distressed properties in the Baltimore region continued to distort the area's real estate market in October, inflating overall sales but acting as a drag on home prices, according to the monthly report from the regional multiple listing service.
The U.S. mortgage industry saw an improvement in the volume of total originations for a second consecutive quarter in Q3, with data compiled by the Mortgage Bankers Association (MBA) estimating that $300 billion in mortgages were originated over the period.
Current mortgage rates are affecting U.S. refinance behaviors. Last quarter, 44% of refinancing households ditched their existing 30-year fixed rate loan in favor of a shorter-termed 15-year or 20-year loan.
Senior loan officers who responded to the Federal Reserve's quarterly survey of bank lending practices in October reported that changes to bank lending standards for residential mortgage loans or home equity lines of credit (HELOCS) over the previous three months were on net minor.
In a bid to reduce expenses, JPMorgan Chase & Co. (JPM) has decided to slash another 3,000 jobs in its consumer and community banking (CCB) division by the end of this year.
Start spreading the news — Benjamin Lawsky is reportedly leaving the New York Department of Financial Services.
She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn't take it anymore. "It was like watching an old lady get mugged on the street," she says. "I thought, 'I can't sit by any longer.'"
Mortgage servicer Ocwen Financial Corp faced a lawsuit this week over accusations it committed fraud by overcharging borrowers in order to drive up its own profits, according to a court filing.
Hedge fund manager Dan Loeb increased bets on the least creditworthy homebuyers as he adjusted the mortgage-related holdings that accounted for half of investment profits this year at Third Point Reinsurance Ltd. (TPRE).
I've written thousands of articles about credit reporting and credit scoring over the past decade. At this point in my career it's pretty difficult to come up with a topic about which has never been written by me or any other credit authors, but I think I've got one.
The U.S. Midterm Elections have been over for less than a week, and already Democrats are circling the wagons to protect what will certainly be a top priority on the Republicans' list of changes to make – the Consumer Financial Protection Bureau (CFPB).
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.