Commercial/Multifamily News |
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Top National News |
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Mortgage Industry Insider Warns about a Stifling Regulatory Cliff
Washington Times, Dec. 20, 2012--Hill, Patrice
Mortgage Bankers Association President and CEO David Stevens said banks remain cautious about lending in the wake of a number of federal regulations coming out this year and an increase in enforcement actions at the state and federal level.
http://www.washingtontimes.com/news/2012/dec/20/mortgage-industry-insider-
warns-about-a-stifling-r/?page=all#pagebreakFull Story
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Senate Confirms Galante as Federal Housing Agency Chief
Bloomberg, Dec. 30, 2012--Rizzo, Katherine
The Senate on Sunday finally made it official, confirming Carol Galante as head of FHA after a year in which she served in an acting capacity.
http://www.bloomberg.com/news/2012-12-30/senate-confirms-galante-
as-federal-housing-agency-chief.htmlFull Story
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Fiscal Cliff Deal: House OKs Proposal Despite GOP Objections
NBC News, Jan. 2, 2013--O'Brien, Michael
President Obama said he would sign legislation averting a fiscal cliff after the House voted 257-167 to approve a bill earlier passed by the Senate.
http://nbcpolitics.nbcnews.com/_news/2013/01/02/16288012-fiscal-cliff-deal-house-
oks-proposal-despite-gop-objections?liteFull Story
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U.S. Mortgage Firms Said to Near $10 Billion Settlement
Bloomberg, Dec. 31, 2012--Hopkins, Cheyenne; Benson, Clea
Office of Comptroller of Currency and other regulators said to be near new settlement with mortgage servicers.
http://www.bloomberg.com/news/2012-12-31/u-s-mortgage-firms-said-to-
near-10-billion-settlement.htmlFull Story
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Refi Program Extension Eyed
Wall Street Journal, Dec. 25, 2012--Timiraos, Nick
Obama administration considering expanding mortgage refinance programs for borrowers held by private investors.
http://online.wsj.com/article/SB100014241278873232917045781
99832047537030.html (subscription required)Full Story
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Fed Flummoxed by Mortgage Yield Gap Refusing to Shrink: Economy
Bloomberg, Dec. 24, 2012--Salas Gage, Caroline; Shenn, Jody; Perlberg, Heather
Federal Reserve policymakers are "disappointed" that record-low mortgage rates have not provided more of a jump-start to the economy and plan to examine the isssue further.
http://www.bloomberg.com/news/2012-12-24/fed-flummoxed-by-mortgage
-yield-gap-refusing-to-shrink-economy.htmlFull Story
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New Mortgage Standards Must be Clear, Measurable
Tampa Bay Times, Dec. 29, 2012--Editorial
The Times' editors say new mortgage rules should provide banks with some shield from homeowner lawsuits, but not complete safe harbor.
http://www.tampabay.com/opinion/editorials/new-mortgage-standards
-must-be-clear-measurable/1268094Full Story
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Fringe 15-Year Mortgage Becomes Hot Property
MarketWatch, Dec. 28, 2012--Andriotis, AnnaMaria
Freddie Mac reports nearly 16 percent of fixed-rate mortgages sold to it in third quarter were 15-year loans.
http://finance.yahoo.com/news/fringe-15-mortgage-becomes
-hot-150924878.htmlFull Story
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LBBW Suing Deutsche Bank in U.S. over Mortgage-Backed Securities
Dow Jones Business News, Dec. 28, 2012
German bank Landesbank Baden-Wuerttemberg has sued Deutsche Bank AG in a New York court, alleging fraud in $173 million in mortgage-backed securities purchases.
http://www.nasdaq.com/article/lbbw-suing-deutsche-bank-in-us-
over-mortgage-backed-securities-20121228-00086 (subscription required)Full Story
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"The pendulum may have swung too far. We're at a point right now where banks are afraid to make a bad loan."
--MBA President and CEO David Stevens, in an interview with the Washington Times on the current regulatory environment.
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