Comptroller of the Currency Thomas Curry discussed the challenges banks are facing with regulatory compliance and the regulatory burdens faced by smaller institutions in a speech before the New England Council in Boston, Massachusetts, on Friday.
Read More »Bill to Limit Compensation for Top GSE Executives Advances in House Committee
"Congress needs to put a stop to the planned multi-million dollar paydays at Fannie Mae and Freddie Mac," Royce said upon the announcement that his bill was scheduled for markup. "Holding compensation packages at taxpayer-backed organizations to responsible limits is in the interest of the public trust."
Read More »Freddie Mac’s Portfolio Expands for Fifth Straight Month, This Time by $4.5 Billion
The serious delinquency rate on Freddie Mac-backed single-family residential mortgage loans fell by another 5 basis points from May to June, down to 1.53 percent.
Read More »Stewart Information Services To Exit Delinquent Loan Servicing Operations
Stewart Information Services Corporation's net income nearly tripled year-over-year in the second quarter up to $17.1 million and $0.72 per diluted share (from $6.3 million and $0.27 per diluted share, but rapidly declining volume in the default space has prompted the Houston, Texas-based real estate services provider to exit delinquent loan servicing operations, according to an announcement from Stewart.
Read More »Existing Home Sales Expected to Continue Acceleration
"May and June existing home sales have both been very encouraging for anyone looking for proof that the housing market is in recovery, and our July Nowcast indicates that this positive momentum will continue into July," Auction.com EVP Rick Sharga said.
Read More »HUD Puts $39 Million Toward Fighting Discrimination in Housing
HUD makes funding available each year to support organizations interested in the enforcement of fair housing laws and policies as well as educating the public, housing providers, and local governments about their rights and responsibilities under the Fair Housing Act.
Read More »Government Files Opposition to Bank of America’s Appeal of ‘Hustle’ Case Verdict
When filing the appeal in April, Bank of America claimed that "the trial itself was riddled with errors at both the liability and penalty phases." The bank also claims the federal law under which the government made the claim comes with a penalty of no more than $1.1 million.
Read More »Fannie Mae Upwardly Revises Economic Growth Estimate for Q2
In the July Economic Outlook, Fannie Mae expects the economy to pick up to an annualized rate of 2.8 percent in Q2, which is 0.4 percentage points higher than the June estimate. Despite volatile economic conditions overseas that could pose headwinds to the U.S. economy, the ESR Group's estimate for full-year economic growth in July is an annualized rate of 2.1 percent, up from June's forecast of 1.9 percent, according to Fannie Mae.
Read More »OCC Comments on Progress of Hardest Hit Fund Initiative
In an article for the newsletter titled "Hardest Hit Fund Provides Locally Tailored Solutions for Struggling Homeowners," U.S. Department of Treasury Director of the Hardest Hit Fund Program Erin Quinn said that as of March 2015, almost 230,000 homeowners had received a combined $4.7 billion worth of assistance from the HHF Program.
Read More »Codilis & Associates Welcomes Kelli Snowgren Garcia as Marketing Representative
Chicago-based default servicing law firm Codilis & Associates has announced the hiring of Kelli Snowgren Garcia as a marketing representative.
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