Brena Swanson is formerly the Digital Reporter for HousingWire. Brena joined the HousingWire news team in February 2013, also serving in the roles of Reporter and Content Specialist. Brena graduated from Evangel University in Springfield, Missouri.
Back in 2011, former MBA President and CEO Dave Stevens, his wife Mary Stevens, and Dan Arrigoni, the former president of U.S. Bank Home Mortgage, had a vision to help families with critically ill or injured children stay in their homes. This vision led to the Mortgage Bankers Association establishing the MBA Opens Doors Foundation, which helps families with sick children receive mortgage or rental payment assistance while a child receives medical treatment.
Land Home Financial Services named Miriam Sittenfeld as its new vice president of strategic business initiatives. A mortgage industry veteran, Sittenfeld will lead development, set priorities, and monitor performance across key companywide projects.
The Consumer Financial Protection Bureau’s arbitration rule was finally revoked from the Federal Register, officially nullifying the rule. The Federal Register published the notice on Wednesday, making it effective immediately.
Posting a quiet week, mortgage applications barely moved from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Meanwhile, the refinance share of mortgage activity decreased to fewer than 50% of total applications.
House demolitions through the Hardest Hit Fund’s Blight Elimination Program in Michigan could expose residents to hazardous materials and other risks, according to a new report conducted by the U.S. Army Corps of Engineers on behalf of the Office of the Special Inspector General for the Troubled Asset Relief Program. Here’s a list of the most likely risks, along with the ways to fix them.
With Consumer Financial Protection Bureau Director Richard Cordray only a handful of days away from officially leaving his position, the director probably won’t be around to see the outcome of the controversial PHH vs. CFPB case. Interestingly enough, the court’s decision might have unseated him as director anyway.
The list of players in the mortgage industry continues to grow, as a group of industry veterans announced the launch of bemortgage. The group brings more than 100 years of combined mortgage experience to the new Chicago-based mortgage company.
Mortgage Contracting Services acquired the property preservation division of Carrington Home Solutions. Under the acquisition, MCS will be responsible for inspecting and maintaining CHS’ existing portfolio.
With the future of the CFPB up in the air now that Director Richard Cordray will step down by the end of the month, the National Association of Federally-Insured Credit Unions took the opportunity to reiterate a message the group has long stressed: Credit unions are over-regulated. NAFCU outlined nine areas in which the bureau could improve its operations and provide some relief to credit unions.
Speculation continues to rise over which city Amazon will choose as its second headquarters. Meanwhile, outgoing CFPB Director Richard Cordray’s likely entry into the Ohio gubernatorial race isn’t the only drama surrounding the state’s upcoming election. All that, and more, in your Monday Morning Cup of Coffee.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.