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Its no secret that the mortgage industry loan brokers in particular hate the Consumer Financial Protection Bureaus loan officer compensation proposal, especially any language that offers flat fee payments to companies or originators. Comments about the proposal are still being filed and some trade group officials (speaking off-the-record) contend that the fix is in and that the young agency is more concerned with meeting the rule making deadline of early 2013 instead of getting it right.
July 5
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China’s new home prices rose for the first time in 10 months as the government eased its monetary policies to bolster the economy.
July 5 -
About half of the 31 failed-bank resolutions in 2012—as of June 30—involved an acquirer purchasing a whole bank without any loss-sharing from the FDIC.
July 5
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There are ways the Federal Housing Finance Agency could structure a principal reduction program and prevent strategic defaults, which the agency is “deathly afraid of."
July 3 -
Amid growing controversy fueled in part by the new mortgage servicing rules to be finalized by the Consumer Financial Protection Bureau next year, the debate over the validity of lender-placed insurance is in full swing and expected to continue.
July 3 -
Most insiders support the Consumer Financial Protection Bureau's plan to give lender-placed insurance a makeover.
July 3 -
It's no secret that many of our cities are financially strapped for cash as their expenses continue to outweigh their revenues year after year.However, declaring bankruptcy is not necessarily the answer.
July 3
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FinCEN said an increase or decrease in SAR filings is not necessarily indicative of whether there is more or less mortgage loan fraud activities taking place nationwide.
July 3
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The Federal Housing Finance Agency said that the winning bidders have been selected in Fannie Mae’s first bulk sale offering through the REO-to-rental pilot initiative.
July 3
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Saudi Arabia, which is spending about $500 billion to build infrastructure and industry, said its cabinet approved the kingdom’s first mortgage law, more than a decade after it was first proposed.
July 3
