The industry’s last chance to change the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule just closed. On Tuesday, the door shut on the ability for the industry to comment on the bureau’s proposed updated to the new rule. Now the industry can only sit back and wait. http://www.housingwire.com/articles/38347-top-industry-voices-submit-final-comments-on-looming-trid-changes ❤️ #share #mortgage
Friday, October 21, 2016
NCUA reveals it paid $1 billion to lawyers in fight to recover credit union crisis losses
In 2013, the National Credit Union Administration filed suit against some of the world’s biggest banks over the sale of nearly $2.4 billion in faulty residential #mortgage-backed securities to several corporate credit unions, which subsequently failed during the financial crisis, due in part to losses from those very same #mortgage bonds. The total amount recovered for the failed credit unions in those settlements is more than $4 billion, but for the first time, the NCUA revealed just how much it cost to reach those settlements. http://www.housingwire.com/articles/38346-ncua-reveals-it-paid-1-billion-to-lawyers-in-fight-to-recover-credit-union-crisis-losses ❤️ #share #mortgage
Returns on single-family rentals drop to lowest level in 9 years
There is less money to be made in single-family rentals than at any point since 2007. Despite the decrease, however, investors are not discouraged. In fact, the share of investor purchases increased since last year. http://www.housingwire.com/articles/38339-returns-on-single-family-rentals-drop-to-lowest-level-in-9-years ❤️ #share #mortgage
Fannie Mae: Economic growth to slow down remainder of 2016
Fannie Mae adjusted its economic growth predictions for the second half of 2016, revising it down from its previous predictions. However, economic growth is still projected to be significantly greater than the first half of the year. http://www.housingwire.com/articles/38342-fannie-mae-economic-growth-to-slow-down-remainder-of-2016 ❤️ #share #mortgage
HousingWire hires new leader to head sales team
HousingWire hired Jennifer Watson Laws as its new national sales director. Watson Laws brings years of experience as an executive, her career spanning digital, print and out-of-home platforms. HousingWire CEO talks about the new hire, and why she’s a perfect fit. http://www.housingwire.com/articles/38344-housingwire-hires-new-leader-to-head-sales-team ❤️ #share #mortgage
DOJ planning to sue Moody's over crisis-era #mortgage bond ratings
In the fallout from the financial crisis, many argued that the credit ratings agencies’ competition for business led to ratings shopping among bond issuers and relaxed ratings standards for the ratings agencies themselves. Last year, Standard & Poor’s reached a $1.375 billion settlement over just such claims. And now the Department of Justice is taking aim at Moody’s Investors Service. Click the headline to read more. http://www.housingwire.com/articles/38341-doj-planning-to-sue-moodys-over-crisis-era-mortgage-bond-ratings ❤️ #share #mortgage
The advantages of hiring a diverse workforce
As the United States undergoes a seismic demographic shift to a younger, more ethnically diverse population, #mortgage #lenders and servicers who want to grow the scope and quality of their business need to reflect that diversity in their workforce. http://www.housingwire.com/articles/38340-the-advantages-of-hiring-a-diverse-workforce ❤️ #share #mortgage
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