Looking back, the housing industry is totally Scrooged

Looking back, the housing industry is totally Scrooged

Here's the HousingWire/Star Wars Christmas 2014 special

FHA loans could face "tidal wave of defaults"

All indices hit series high

Another mortgage lender launches 3% down loan

Falls in line with FHFA
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Items Tagged with 'Securities and Exchange Commission'

ARTICLES

BofA’s $16.65 billion toxic mortgage settlement gets green light

All legal and regulatory hurdles now clear
Ben Lane
With all of the regulatory and legal complications now ironed out, the massive $16.65 billion settlement between Bank of America, the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities is now finalized.
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SEC grants Bank of America relief in $16 billion settlement

Ends political logjam
Ben Lane
The record-setting settlement between Bank of America, the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities can finally proceed after the bank was granted relief by the Securities and Exchange Commission.
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BofA CEO: No plans to ease mortgage standards

Despite federal pressure to open the credit box
Levi Shultz
Bank of America does not plan on easing its mortgage standards or offering 3% down mortgages, despite regulators seeking to expand lending, said CEO Brian Moynihan.
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Here's how much Fidelity paid to bail out LandCastle Title

How much damage done by Nat Hardwick’s alleged theft?
Ben Lane
Since HousingWire first reported that Fidelity bailed out LandCastle Title, the story has taken the kinds of twists and turns that one might expect to see in a Hollywood blockbuster, not in the annals of title company finance. But what wasn’t known until now is just how much it cost Fidelity to acquire that 70% ownership stake in LandCastle Title.
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BofA keeps pushing for SEC relief in $16 billion settlement

Claims bank is being treated unfairly
Ben Lane
The record-setting settlement between Bank of America, the U.S. Department of Justice, federal agencies and six states to resolve claims over toxic residential mortgage-backed securities is still on hold as the bank continues its fight for relief from the Securities and Exchange Commission.
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Will Walter Investment go the way of Ocwen?

Company reveals new investigations into servicing practices
Ben Lane
On page 44 of the Walter Investment's earnings filing with the Securities and Exchange Commission, the company disclosed that during the second quarter, it met with a working group representing the attorneys general and regulators of several states as well as representatives of the Office of the United States Trustee to “discuss the business practices of Green Tree Servicing.” Several of those states have since launched investigations.
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BofA’s $16 billion settlement on hold due to SEC fight

SEC commissioners split on granting waivers for relief
Ben Lane
According to a new report from Bloomberg, Bank of America's $16.65 billion settlement is “being held up” by an internal fight at the SEC over whether certain additional sanctions should be waived or not.
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It's official: Risk retention rule approved

Federal Reserve gives last and final approval
Brena Swanson
The final version of the risk retention rule is now officially approved by six federal agencies, following the Federal Reserve’s final approval on Wednesday. The rule contains an exemption for Qualified Mortgages similar to when the rule was proposed in 2013.
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SEC approves risk retention rule, pending Fed approval

Industry continues to weigh in
Brena Swanson
The Securities and Exchange Commission approved the final version of the risk retention rule that would require banks to retain at least 5% of the risk on their books when securitizing loans. Now all that is left is approval from the Federal Reserve.
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Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
Ben Lane
Sen. Elizabeth Warren, along with Congressman Elijah Cummings, sent a letter this week to the U.S. Government Accountability Office, requesting an investigation into the risks posed to consumers by the “unprecedented” growth in nonbank mortgage servicing.
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