The real reason Fannie and Freddie don't do principal modifications

Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
W S

Lending

DOJ demands more in BofA, Countrywide deal

Deal hung up over penalties
July 29, 2014
The Department of Justice is not satisfied with its negotiations over Bank of America's cash penalty amount for the dealings of Countrywide and Merrill Lynch. The $13 billion is not enough.
Read More

Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan
July 28, 2014
"Julián has lived the American Dream in his own life, and I’m confident he will help Americans across our country seize their own piece of that dream for themselves and their children," President Barack Obama said when Castro was confirmed by the Senate earlier this month.
Read More

DBRS: CFPB rules, tighter credit driving down mortgage originations

Until uncertainty with QM, ATR settled, many buyers will be shut out
July 28, 2014
Federal regulations coupled with a general shift from refinance to purchase activities have resulted in historically low volumes of mortgage loan originations, even though home prices have continued to rebound and delinquency and foreclosure rates are at their lowest levels in years.
Read More

It’s official: Zillow will own Trulia

"Better agents make for better advertisers"
July 28, 2014
During a conference call on the deal, Rascoff said the real ad potential for the two companies, to make some serious profit, is working to move real estate marketing from offline to online.
Read More

Black Knight: Home prices tick up 0.9% in May

Continues upward trend
July 28, 2014
Homes prices continue to trend higher and are now just 11% off the 2006 peak of $268,000. Meanwhile, Colorado and Texas both hit new peaks in May, reaching $269,000 and $195,000, respectively.
Read More

Shifting gears on TILA-RESPA

Our weekly summary
July 28, 2014

How much of the TILA-RESPA rule implementation have you discussed and planned for in your organization?


Read More

Goldman hired for Radian Asset selloff

Pending private mortgage insurance rules speed up process
July 25, 2014
Radian hired Goldman Sachs to evaluate interest in its financial guaranty business Radian Asset, according to Radian. The company has been in the runoff since 2008.
Read More

Bank of America Merrill Lynch concludes Dodd-Frank killed housing

Not coming back to life soon, either
July 25, 2014
“In testimony to Congress on QRM, Mr. Frank noted changing the US residential mortgage market was foremost among the very purpose of the statute,” said analysts Flanagan and Katz. And change that market it did — by sucking the life out of it.
Read More

Fed releases SunTrust order over $160M mortgage penalty

Settlements continue to dent lender's profits
July 25, 2014
SunTrust's earnings continue to be dragged down by various mortgage settlements, resolving past foreclosure and mortgage issues. Most recently, the Federal Reserve finalized the $160 million penalty related to faulty mortgages announced back in October.
Read More

Before you judge Dodd-Frank...

Urban Institute: "Can we really calculate the cost?"
July 25, 2014
Now four years old, Dodd-Frank is struggling to measure up to its original design. But according to the Urban Institute, before disregarding Ddd-Frank as a fail, understand that it is complex and difficult law.
Read More