Headlines and Blogs from Around the Web
The big takeaway from the minutes of the Federal Open Markets Committee January meeting for the housing industry is that tapering is likely to continue apace, and that the Federal Reserve is throwing out its previous goal post of 6.5% unemployment in favor of an ill-defined mandate for continued quantitative guidance.
Groundhog Day is over, a top Consumer Financial Protection Bureau executive told the Mortgage Bankers Association in a Wednesday speech regarding mortgage servicing practices that are harmful to consumers.
Mortgage Bankers Association (MBA) President David H. Stevens congratulated mortgage servicers attending MBA's National Mortgage Servicing Conference on Wednesday for surviving the past few years with the "staggering amount of change" from new rules and regulations and the "intense scrutiny of policymakers, regulators, and the news media."
The housing bailout is a mismanaged program that has resulted in greater foreclosure rates and increased uncertainty among lenders, according to Avison Young broker Jason Meister and Greg Rand, CEO of the real estate investment network OwnAmerica.
If you’re an American homeowner, the bank that gave you your mortgage is increasingly unlikely to still be overseeing it.
It's not over yet. While a NY state judge upheld Bank of America's $8.5B mortgage settlement with private investors, the dissident investors - led by AIG- have asked a new judge presiding over the case (the original judge has been promoted) to take another look, and she has agreed to do so.
American International Group is holding "hostage" an $8.5 billion deal to compensate investors who bought Bank of America Corp mortgage securities, supporters of the deal said in court filings ahead of a hearing on Wednesday.
Using an Olympic theme of "Will Housing Take Gold", Freddie Mac's economists said today that, while they had expected housing 'to come out of the gate at a good clip at the start of 2014, bolstered by an improving economy," the labor market report for January instead showed a slow start for the residential sector with only 113,000 new jobs created, well below the 2013 average of 194,000 per month.
The nonprofit National Fair Housing Alliance said Tuesday that it conducted an undercover investigation of Bank of America in Charleston – and claimed it found evidence that the Charlotte bank discriminated against potential Latino borrowers.
Read more here: http://www.charlotteobserver.com/2014/02/18/4705706/advocacy-group-goes-...
Wells Fargo, the largest U.S. mortgage lender, is tiptoeing back into subprime home loans again.
A new white paper is highlighting the vast differences in foreclosure timelines at varying mortgage servicers.
A growing number of homeowners trying to avert foreclosure are confronting problems on a new front as the mortgage industry undergoes a seismic shift.
It's tax time, and everyone's scurrying to find deductions on their returns.
Bank of America is reportedly cutting about 450 jobs in its mortgage division after origination volume fell short of internal forecasts.
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.