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.
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.
Interesting enough, this weeks marks the seven-year anniversary of when Sen. Elizabeth Warren, D-Mass., called Consumer Financial Bureau Protection Director Richard Cordray to come to Washington D.C. and run the newly created agency. Warren weighs in on the discussion of Cordray leaving the bureau.
In the days following the 2016 election, business leaders across many industries were hopeful that the new president would make good on his promise of widespread deregulation. Banks and other financial institutions were especially optimistic. Here at last was the relief they had been looking for. Or not.
Even Hollywood knows better than to produce a sequel when the original movie is truly, horrifically bad. That’s why, thankfully, we haven’t seen sequels to such all-time cinematic disasters as Howard the Duck, Gigli, The Last Airbender, Jack and Jill, Glitter, or Battlefield Earth. Which brings us, in an admittedly roundabout way, to the question of whether we’re about to see a sequel of sorts in the mortgage industry: The Return of the Subprime Loan.
With FHFA director Mel Watt’s term due to expire in January 2019, the question of whether to move ahead on some version of administrative reform may rest with his successor. In the meantime, policy makers would be well-served to work together to come to some agreement on options for administrative reform. At a minimum, agreeing on a common definition would be a good first step.