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  • FHA: No PLF changes for reverse mortgages

    The Federal Housing Administration released its 2018 Report to Congress on Thursday, revealing that the HECM program continues to be a drain on its flagship Mutual Mortgage Insurance Fund to the tune of $13.63 billion in the last fiscal year. But FHA Commissioner Brian Montgomery said the program is benefiting from policy changes made last year, and that the agency remains "optimistic that the quality of the book will continue to improve." Click the headline to read more.

Articles Tagged with ''JP Morgan Chase''

BofA CEO is totally fine with a shrinking mortgage market

Not yet concerned with rising housing prices
Bank of America’s latest Homebuyer Insights Report reveals that Millennials are now prioritizing homeownership above other life milestones, including marriage and having children. But that doesn't mean the bank's CEO is in a rush to give them a mortgage.
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JPMorgan Chase blows earnings estimate out of the water

Mortgage banking declines
JPMorgan Chase reported earnings that not only grew substantially from last year, but also blew estimates out of the water when earnings came in 20% higher than expected. However, not everything in the earnings report showed such strong numbers. The mortgage banking sector struggled in the last quarter of the year.
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Financial purge: Big bank stocks plunge

Dramatic crash in oil prices to blame
The DOW is not looking good as financial names took a big hit Thursday. Reeling off a 400-point loss, oil prices dropped below $27 a barrel for the second time in recent weeks. It settled at $26.21, the lowest point since 2003.
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Reuters: DOJ collects $24.7 billion in settlements in 2014

JPMorgan Chase & Co., Citigroup, BofA among biggest settlements
The U.S. Department of Justice reported a total of $24.7 billion in settlements for fraud and other cases in 2014. Approximately $11 billion came from settlements with JPMorgan Chase & Co. and Citigroup, along with $16.65 from Bank of America.
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From HW Magazine

$13B JPMorgan settlement over legacy mortgage issues does little

20 years after the homeownership society took effect, the government’s battle with lenders continues
When J.P. Morgan Chase & Co. announced its $13 billion settlement with the Department of Justice and various regulatory agencies over legacy mortgage issues in October, the megadeal captured headlines, with many wondering if it marked a definitive end to the mortgage industry's larger litigation merry-go-round. So, months after the dust has settled, we ask: is this really the end?
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