A former bank executive pleaded guilty last week to charges of defrauding regulators and his bank's investors, Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and other investigators announced recently.
Read More »HSBC Agrees to Pay $550M in RMBS Settlement
In a settlement announced Friday, HSBC agreed to pay $550 million to FHFA to resolve allegations it violated state and federal securities laws in its selling of private-label securities to the GSEs between 2005 and 2007. HSBC stopped issuing and distributing MBS in 2007.
Read More »Fay Servicing Adds RES.NET’s REO Portal to Manage Portfolio
RES.NET, a California-based software applications firm serving the real estate industry, has partnered with Fay Servicing to provide Fay's clients access to RES.NET's expansive network of agents and vendors through the company's REO Portal.
Read More »Industry Job Cuts Continue in Q2
Despite growth in mortgage revenues at banks nationwide, industry employment continued to move down in the second quarter as banks cut staff, according to a report from Mortgage Daily. All of the reported cuts in the second quarter happened at banks, which lost approximately 28,600 jobs from the first quarter to the second.
Read More »REOs Fall Year-Over-Year for 21st Straight Month
The number of residential properties repossessed by lenders by way of foreclosure in August declined on a year-over-year basis for the 21st consecutive month, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.
Read More »Colorado Sees Unusual Foreclosure Surge in August
Foreclosure activity took a significant upward turn in the historically foreclosure-slow state of Colorado in August, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.
Read More »Report: Consumer Sentiment Highest in 14 Months
The increase in the headline index was driven by a more than four-point improvement in the gauge of consumer expectations, which rose to 75.6. On the other hand, the Current Conditions Index fell more a point to 98.5. According to Paul Diggle, U.S. economist for Capital Economics, the small decline "could reflect the weaker pace of payroll growth in August or even the slowdown in some measures of housing market activity."
Read More »OCC: Financial Industry Supervisors Need to ‘Remain Vigilant’
In speaking before the U.S. Senate Committee on Banking, Housing, and Urban Affairs earlier in the week, Comptroller of the Currency Thomas J. Curry said the overall financial condition of banks has improved since the passage of the Dodd-Frank Reform Act four years ago – but he believes that supervisors need to "remain vigilant."
Read More »Spike in Foreclosures Puts New Jersey Among Nation’s Top Five
Foreclosure activity skyrocketed in New Jersey for the month of August, giving the Garden State the fourth highest foreclosure rate in the nation, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.
Read More »Adjusted Case-Shiller Index Paints Different Picture of Housing Market
Beginning with the release of the June report last month, the monthly Case-Shiller reports now include an expanded national series going beyond the previously covered 20 markets. Previously, the national series was only released every quarter.
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