Warren, Lankford lead bipartisan effort to shine light on government settlements

Senate bill would increase transparency into negotiations, settlement terms
For the third time in the last four years, Sen. Elizabeth Warren, D-Mass., is leading a bipartisan push to shed some light on how the government reaches the occasionally massive settlements with businesses for various forms of misconduct. Here are the details on the "Truth in Settlements Act."
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Treasury Secretary Mnuchin to address Senate Banking Committee on GSE reform

Mnuchin preparing to suspend GSE dividend payments?
Treasury Secretary Steven Mnuchin is scheduled to appear before the Senate Committee on Banking, Housing and Urban Affairs. Reportedly, the hearing will focus on Mnuchin’s thoughts on GSE reform. One analyst explains how the secretary’s response will indicate if Fannie, Freddie reform is truly a priority for this administration.
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McConnell throws cold water on Republican Dodd-Frank repeal efforts

Senate Majority Leader tells Bloomberg: "I'm not optimistic"
The Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, may enjoy the support of the House Financial Services Committee, the Trump administration, and even President Donald Trump himself, but the Senate’s top Republican said this week that he believes that the bill may never make it to President Trump’s desk.
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Turmoil in Washington sends Dow plummeting

Interest rate drop will follow
This week’s scandals in Washington finally caught up with the financial market, sending the Dow plummeting with a drop of more than 250 points. And this drop could soon spill over into mortgages as the 10-year Treasury also sees decreasing rates.
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Hackers reportedly steal "millions" of email addresses from DocuSign

Do not open suspicious emails
Beware real estate agents and mortgage professionals. DocuSign confirmed on Tuesday that a malicious third party gained temporary access to a separate, non-core system to steal possibly more than 100 million email addresses. DocuSign is quickly alerting people and recommending them to take the following steps to ensure the security of their email and systems.
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Stearns Lending CEO Brian Hale steps down

David Schneider, former president of Ditech Financial, takes over
Over the last the last few years, Stearns Lending saw its mortgage origination volume grow from $5.7 billion in 2011 to $26 billion last year. Overseeing that growth was CEO Brian Hale, who joined the company in 2012. But Monday, May 15, 2017 was Hale’s last day as Stearns Lending’s CEO.
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Who can attract the young workforce in mortgage finance?

Here's how the Rising Stars recruit young talent
How many of you knew you wanted to go into the housing industry? Looking at the current state of the market, we so desperately need more young entrants into the field. It’s time to fix this. HousingWire’s Rising Stars are the perfect example of young industry professionals who are moving the market forward. And they’re here to share their thoughts on how to help others get there too.
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Kushner Companies skipping out on Chinese property investment event

Event exchanges investment for U.S. visas
After coming under fire for its last event with Chinese investors, Kushner Companies, owned by the family of the president’s son-in-law and senior advisor, is sitting this weekend’s event out. The company announced it does not plan on making an appearance at the event in China this weekend that will offer U.S. immigration visas in exchange for investments.
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RBS in talks with FHFA to settle multibillion-dollar lawsuit over mortgage-backed securities

DOJ investigation on hold
Royal Bank of Scotland continues to try and clean up the aftermath of the financial crisis, but it’s not happening easily. While the bank is reportedly in talks to finally settle one of the two major U.S. investigations into mortgage-backed securities it sold during the financial crisis, its case with the Department of Justice is at a standstill due to a number of empty key positions at the DOJ.
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