Headlines and Blogs from Around the Web
Total construction spending in the U.S. in August was estimated by the Census Bureau today to be at the seasonally adjusted annual rate of $961.0 billion, down 0.8 percent from spending in July and 5.0 percent higher than the $915.3 in construction outlays in August 2013.
Bank of America Corp.'s board voted to make Brian Moynihan chairman as well as chief executive, capping a comeback for a banker who survived the regulatory scrutiny and huge losses that followed the financial crisis.
Another title insurance company has become ensnared in the Consumer Financial Protection Bureau's (CFPB) regulatory dragnet.
Wells Fargo Bank and Citigroup's mortgage unit must face claims that they violated federal law by falsely notifying credit reporting agencies that thousands of homeowners went through bankruptcies or foreclosures, a federal judge has ruled.
The Office of Inspector General of the United States Department of Housing and Urban Development has released a report alleging that EverBank violated the policies of the Federal Housing Administration’s Preforeclosure Sale Program.
A key opponent of Bank of America Corp’s proposed $8.5 billion settlement with investors in mortgage-backed securities has dropped its objections, marking another step forward for the deal to receive final court approval.
I recently had a conversation with a friend and colleague, Jeff Fass over at Bank of America. Jeff manages an office full of loan officers in Paramus, NJ and by job description; he is the guy that sorts out loan approval process issues for his people when they arise.
Trulia Chief Economist Jed Kolko says that despite the current deceleration in home prices worrying some, and claims from others that home prices are too high, home prices nationally are actually 3% undervalued in the third quarter of 2014.
I’m not a big fan of debt, in case you didn’t notice. I don’t like consumer debt, and I really don’t like reverse mortgages. I recently wrote that Home ownership with no mortgage is the best retirement plan.
Deutsche Bank AG and JPMorgan Chase & Co. units along with other underwriters of IndyMac Bancorp Inc. mortgage-backed securities have shown good cause to win approval of a $340 million settlement with investors, said a U.S. judge who set a February hearing on the accord.
A federal judge on Tuesday said JPMorgan Chase & Co must face a class action lawsuit by investors who claimed the largest U.S. bank misled them about the safety of $10 billion of mortgage-backed securities it sold before the financial crisis.
Florida developer Domenic Rabuffo was sentenced Tuesday to more than 27 years in federal prison for a North Carolina mortgage fraud scheme that bilked four major banks out of more than $50 million in loans made to dozens of Floridians who posed as straw buyers.
Read more here: http://www.miamiherald.com/news/business/article2364569.html#storylink=cpy
Is your adjustable-rate mortgage (ARM) about to adjust? Call yourself lucky.
Could banks begin to use a person’s social network as an indicator of their creditworthiness? It’s not as far-fetched as it might seem, according to one financial technology expert.
One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the U.S. government's rescue of American International Group Inc (AIG.N) was, in fact, legal.
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.