An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

A NAR board member tells (almost) all

For this week’s Houses in Motion, a miniseries that is part of HousingWire Daily, we spoke with Lisa Dunn about the pressing issues in real estate, including disclosure of agent commission.

Investments

Bank of America nears record RMBS settlement

Largest deal with Justice rumored to be near

According to The Wall Street Journal the much rumored and anticipated Bank of America settlement is near completion. If so, it is by far the largest deal of its kind yet seen.

According to the article:

"Bank of America Corp. and the Justice Department are close to a deal in which the bank will pay between $16 billion and $17 billion to resolve allegations of mortgage-related misconduct in the run-up to the financial crisis, according to people familiar with the matter."

In November, JPMorgan Chase (JPM) agreed to pay $13 billion to settle claims of mortgage-backed securities fraud brought against the bank by the U.S. government.

The U.S. Department of Justice then used some of that money to speed up its cases against other big banks, like Bank of America (BAC) and Citigroup (C).

Last month, Citi officially announced a $7 billion dollar settlement with the U.S. Department of Justice, several state attorneys general, and the Federal Deposit Insurance Corporation to settle residential mortgage-backed securities and collateralized debt obligations after industry whispers that the bank was nearing a resolution.

BofA took a little longer, as the New York Times said the bank was at an impasse in negotiating a multi-billion dollar settlement deal related to the bank’s involvement in the mortgage crisis.

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By

Latest Articles

CFPB orders ‘Big Tech’ to turn over payment system plans

The Consumer Financial Protection Bureau issued a series of orders Thursday that will require large tech companies to hand over information on their payments systems to better understand how these firms manage and access users personal data.

Oct 21, 2021 By
3d rendering of a row of luxury townhouses along a street

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