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Movement Mortgage plans operations expansion

National Mortgage News - 19 min 7 sec ago
Privately held nonbank Movement Mortgage plans to add to the operational resources it has based at a new Norfolk, Va., facility it is leasing from the city.

CFPB unfairly targeting Ocwen, analyst claims

National Mortgage News - 19 min 7 sec ago
Regulators have unfairly targeted Ocwen Financial Corp. with the goal of forcing it to sell its mortgage servicing portfolio to investors that would foreclose on troubled borrowers, claims a prominent mortgage finance analyst.

Trump budget to propose risk management upgrade for FHA

National Mortgage News - 19 min 7 sec ago
The Trump administration will ask for more funds to improve the Federal Housing Administration's risk management systems as part of its budget expected to be released Tuesday, according to a leaked version.

What to expect at court hearing on CFPB constitutionality

National Mortgage News - 19 min 7 sec ago
The case, PHH Corp. v. CFPB, is being watched closely because depending on the outcome, it could give President Trump the power to immediately fire Richard Cordray, the CFPB's director.

Nationstar readies $325M defaulted reverse mortgage deal

National Mortgage News - 19 min 7 sec ago
Nationstar Mortgage is issuing its seventh securitization of nonperforming reverse mortgages.

Why banks should take notice of retailers’ problems

National Mortgage News - 19 min 7 sec ago
This is a good time for bank risk managers and bank regulatory examiners to evaluate the effects of a deepening retail crisis on the financial services sector.

Foreclosures dry up and a hot Wall Street trade gets new look

National Mortgage News - 19 min 7 sec ago
It was a rare lucrative business for Wall Street in the aftermath of the financial crisis: snapping up properties in foreclosure and renting them out. So good, in fact, that now, as the distressed pool dries up, some investors are refusing to let the rental-model fizzle.

Atlanta BeltLine pushing ahead on affordable housing

National Mortgage News - 19 min 7 sec ago
The Atlanta BeltLine is pushing hard to get hundreds of affordable housing units opened or in the pipeline in the coming months.

Florida man scams homeowners out of $43,000

National Mortgage News - 19 min 7 sec ago
A Tamarac, Fla., man scammed tens of thousands of dollars from three homeowners who were falling behind on their monthly payments during the mortgage crisis, investigators say.

Chattanooga home prices jump 9.8% in past year

National Mortgage News - 19 min 7 sec ago
Chattanooga, Tenn., home prices continued to accelerate in the first three months of 2017 as sales outpaced the number of new homes put on the market, shrinking the available inventory of houses for home buyers to choose from in the area.

SBA lending gains popularity with thrifts in need of fee income

National Mortgage News - 19 min 7 sec ago
First Savings Financial in Indiana and Dime Community in New York are keen on making more SBA loans as a way to diversify revenue and generate fees through loan sales.

Battleground state voters favor CFPB commission, poll finds

National Mortgage News - 19 min 7 sec ago
Roughly 58% of 6,000 voters in key states said they would support moving the bureau from a single director to a bipartisan commission, according to an industry-supported poll.

Improving loan performance sparks renewed calls for FHA premium cut

National Mortgage News - 19 min 7 sec ago
The delinquency rate of Federal Housing Administration-insured mortgages fell to a historic low in the first quarter, fueling more calls for a reduction in the agency's annual premium.

Large CMBS loans are being carved up to spread risk, but …

National Mortgage News - 19 min 7 sec ago
The trend of putting ever-smaller pieces of the same commercial mortgages into multiple securitizations requires investors to be extra careful, and will inevitably make workouts of bad loans more complicated.

Home sales listings turning over faster than ever: Redfin

National Mortgage News - 19 min 7 sec ago
The median time it took a home listed for sale to go into contract was 40 days in April, the fastest since Redfin started tracking this data in 2010.

Few big banks would benefit from key part of House reg reform bill: CBO

National Mortgage News - 19 min 7 sec ago
The Congressional Budget Office said only community banks would choose to hold higher capital in return for fewer rules while lowering its estimate of cost savings of eliminating new FDIC resolution powers.

Newport Beach man charged in defrauding clients who sought debt relief

National Mortgage News - 19 min 7 sec ago
A Newport Beach, Calif., man was arraigned on charges of impersonating an attorney and defrauding clients through debt consolidation and mortgage modification schemes, according to the Orange County District Attorney's office.

Cut mortgage down payments to 10%: B of A's Moynihan

National Mortgage News - 19 min 7 sec ago
Down payment standards should be relaxed to just 10% to spur homebuying among millennials, Bank of America CEO Brian Moynihan said this week.

People on the move: May 19

National Mortgage News - 19 min 7 sec ago
Mortgage industry hiring and new job appointments for the week ending May 19.

Canadian officials preach calm as housing warnings surface

National Mortgage News - 19 min 7 sec ago
Canadian government officials delivered a vote of confidence in the country’s housing sector and banking system, telling lawmakers that Vancouver and Toronto’s real estate markets are supported by fundamentals that leave risks well-contained.