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HSBC has reached definitive agreement with the Department of Justice that resolves charges related to the underwriting, issuance and securitization of residential mortgage-backed securities (RMBS) from between 2005 and 2007
 Wells Fargo and BlackRock Settle RMBS Trustee Litigation
  Wells Fargo Bank N.A. and a group of institutional investors including funds affiliated with BlackRock Inc. and PIMCO have announced the resolution of two class action lawsuits in federal and California state court related to Wells Fargo... Read more
Nearly $450 billion was spent on roughly 113 home improvement projects between 2015 and 2017, according to a NerdWallet analysis of U.S. Census Bureau data from the American Housing Survey
 More Than $450B Spent on Home Improvement Projects
Nearly $450 billion was spent on roughly 113 home improvement projects between 2015 and 2017, according to a NerdWallet analysis of U.S. Census Bureau data from the American Housing Survey.   NerdWallet also reported that 72 percent of... Read more
Swiss-based bank UBS’ announcement that the Department of Justice (DOJ) was preparing a civil action related to 40 residential mortgage-backed securities (RMBS) deals from 2006 through 2007 came to fruition sooner than later
 DOJ Hits UBS with Lawsuit Over Pre-Crisis RMBS Sales
Swiss-based bank UBS’ announcement that the Department of Justice (DOJ) was preparing a civil action related to 40 residential mortgage-backed securities (RMBS) deals from 2006 through 2007 came to fruition sooner than later.   The DOJ... Read more
Housing affordability opportunities hit during the third quarter that has not been seen since 2008, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index
 NAHB: Housing Affordability at 10-Year Low
Housing affordability opportunities hit during the third quarter that has not been seen since 2008, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index.   The new index report determined that... Read more
With Rep. Maxine Waters (D-CA) poised to take the chairmanship of the Financial Services Committee when the Democrats regain control of the House of Representatives, Rep. Patrick McHenry (R-NC) is seeking to become the committee’s ranking member
 McHenry Seeks Ranking Member Spot on Financial Services Committee
With Rep. Maxine Waters (D-CA) poised to take the chairmanship of the Financial Services Committee when the Democrats regain control of the House of Representatives, Rep. Patrick McHenry (R-NC) is seeking to become the committee’s ranking... Read more
The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) released new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO)
 FHFA and CFPB Issue Mortgage Originations Dataset
The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) released new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO) that is designed to offer that insight on... Read more
The Federal Reserve’s policymaking committee opted not to raise rates today
 Fed Decides Against Rate Hike
The Federal Reserve’s policymaking committee opted not to raise rates today.   The central bank’s Federal Open Market Committee (FOMC) unanimously voted on its decision. Although it noted “the labor market has continued to strengthen and... Read more
The National Association of Mortgage Brokers (NAMB) has announced that it has accepted an invitation to participate in the newly formed International Mortgage Brokers Federation (IMBF)
 NAMB Joins Newly-Formed International Mortgage Brokers Federation
The National Association of Mortgage Brokers (NAMB) has announced that it has accepted an invitation to participate in the newly formed International Mortgage Brokers Federation (IMBF) by representing the United States of America. NAMB... Read more
Ditech Holding, a Fort Washington, Pa.-based originator and servicer of mortgages and a servicer of reverse mortgages, has been delisted from the New York Stock Exchange (NYSE)
 Ditech Delisted From NYSE
Ditech Holding, a Fort Washington, Pa.-based originator and servicer of mortgages and a servicer of reverse mortgages, has been delisted from the New York Stock Exchange (NYSE).   The company released a statement that the NYSE also... Read more
Wells Fargo has acknowledged that it erroneously foreclosed on more homes than it had initially reported this summer
 Wells Fargo Admits Higher Number of Wrongful Foreclosures
Wells Fargo has acknowledged that it erroneously foreclosed on more homes than it had initially reported this summer.   According to a UPI report, the San Francisco-based lender admitted the issue in a quarterly 10-Q filing to the... Read more