Headlines and Blogs from Around the Web
A mortgage scam that resulted in the origination of $49.6 million in fraudulent loans led to the indictment of seven defendants in North Carolina this week.
The National Reverse Mortgage Lenders Association is launching a borrower outreach effort through the distribution of a new consent form the association has developed for its members.
JPMorgan reports their q4 13 results before the opening bell on Tuesday, January 14th, with analyst consensus expecting $1.35 in earnings per share on $23.68 billion in revenues, for expected year-over-year declines of -3% and -3% respectively.
The Obama Administration released its Housing Scorecard—a comprehensive report on the nation’s housing market created and reported by the administration itself—and the data purport to show progress on several indicators.
Consumer Financial Protection Bureau Richard Cordray showed his sense of humor and introduced his agency’s mission this week not in one of the CFPB’s many field appearances, but on the Daily Show with Jon Stewart.
Three staff member of the Federal Reserve Bank of San Francisco have published, on the Bank's website, results of a study about what drives the mortgage choices of borrowers.
The Consumer Financial Protection Bureau’s Equal Credit Opportunities Act valuations rule, which goes into effect Jan. 18, mandates that all borrowers confirm statements prior to receiving an electronic copy of any appraisal report.
Changes to the Federal Housing Administration-insured reverse mortgage program should be viewed as positive, and will ultimately make the program more attractive to retirees, write Boston College researchers in a recent brief.
JPMorgan Chase ( JPM ) will cough up $2.6 billion to settle all charges leveled against it by Federal authorities for allegedly turning a blind eye to Bernard Madoff as he used his account with the bank to carry on suspicious activities for about two decades.
Recent press coverage reports that federal authorities are conduting yet another investigation into the sales practices of large financial institutions following the financial crisis.
Mel Watt hadn’t even been sworn in as the head of the Federal Housing Finance Agency when at 9 p.m. on the Friday before Christmas he e-mailed reporters from his personal account saying he would put on hold planned increases in fees Fannie Mae (FNMA) and Freddie Mac(FMCC) charge for insuring mortgage securities. With a three-sentence message, he signaled a break from his predecessor and hinted at how he’ll shape the future of the two firms that guarantee about 60 percent of new U.S. mortgages.
In a bit of bad news for the largest global banks, as they are working to resolve their mortgage-related woes from the economic downturn of 2008, Federal regulators are investigating whether the banks wrongly booked profits between 2009 and 2011 by mispricing mortgage-backed securities originated before the crisis.
Wall Street could pay nearly $50 billion to buy peace from federal authorities who are taking aim at the banks over their role in the mortgage crisis, according to interviews and a confidential analysis of the industry’s potential legal exposure.
Wells Fargo & Co., the largest U.S. home lender, has assigned about 400 underwriters to originate mortgages for the bank to hold, with as many as 40 percent of those loans likely to fall outside government guidelines taking effect this week.
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.