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The Week Ahead: Reform to Dodd-Frank

The House will vote on the Financial CHOICE Act, a Dodd-Frank “off-ramp”, this coming Wednesday. Republicans proposed this reform to the financial system in mid-April to free the U.S. from government micromanagement when it comes to excessive regulations on the financial system. See what else will take place in the upcoming week here.

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Industry Group Takes Step Toward Diversity

Thanks to one of REO’s biggest professional groups, the mortgage industry has taken a significant step in diversity and inclusion. The Federation of REO Certified Experts announced the launch of its Diversity Council on Wednesday, a group that aims to “advance conversations on diversity and inclusion.” The group is made up of six committees, including ones for Latino, African American, women, LGBT, veteran, and Asian REO professionals.

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Nation Takes Aim at Veteran Homelessness

With nearly 40,000 American veterans homeless, the nation is finally starting to take notice. From new bills and big housing projects to events across the nation, parties from all over are taking at aim at veteran homelessness. The Five Star Institute’s upcoming Military Heroes Keys for Life event is just one such effort.

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The Fight Against Blight in Maryland

Thursday, a fast-track foreclosure law expediting the foreclosure process was signed by Maryland Governor Larry Hogan. With the intent to reduce community blight, this bill was signed in the footsteps of a similar bill in Ohio. Industry experts provide commentary on the impact this bill may have, including being the push for other states to move forward with their own fast track foreclosure bills.

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First-time Buyers Account for 60 Percent of Purchases

According to a new report, first-time homebuyers now make up 60 percent of all home purchases. On GSE loans, first-time buyers comprise 47 percent of loans, while on FHA loans, they account for 82 percent. The uptick is likely due to an improved economy, lower unemployment, rising income, and more new home construction

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FDIC Bank Revenues Rise 12 Percent

According to a new report, FDIC-insured banks saw a jump in income over the first quarter. The institutions reports a 12.7 percent rise in revenues over the year. Total loan balances at FDIC banks are slowing down.

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CFPB vs. PHH: Two-Year Battle Coming to a Head

scales and gavel

The highly anticipated hearing for the Consumer Financial Protection Bureau (CFPB) and PHH Corporation took place Wednesday in front of the Court of Appeals for the District of Columbia Circuit. The Court of Appeals agreed to revisit their October decision ...

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FHFA: Four Regulatory Focuses for 2017

The Director of the Federal Housing Finance Agency (FHFA), spoke about the FHFA and the FHLBanks at the 2017 Federal Home Loan Bank Directors’ Conference Tuesday. Mel Watt began with positive news about FHLBank performance and lead into the four main regulatory issues he would like to focus on. He stressed that the FHFA will carry out all work in a transparent manner.

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Hudson & Marshall Acquired by Fidelity National Financial

News spread quickly through the mortgage industry on Monday that long-standing auction house Hudson & Marshall (H&M) is being acquired by Fidelity National Financial (FNF). While industry reactions poured in, FNF's “hold” ratings began to switch to “buy” in many research firms. As part of this acquisition, FNF company ServiceLink is launching ServiceLink Auction.

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What the Mortgage Industry Needs to Know About Housing This Year

Between regulations, potential rate hikes, and the upcoming election, the mortgage industry will have plenty to focus on throughout the year. Dr. Umit Gurun, a Professor of Accounting and Finance at the Naveen Jindal School of Management at University of Texas at Dallas, provides DS News with insight on what the housing market picture may look like for the rest of the year.

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