Trade Groups Push CFPB For Broad QM Definition
A coalition of 10 financial services trade groups sent a letter to Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), that...
NCUA Provides Small Credit Unions With Free Laptops
In an effort to improve business efficiency while contributing to a greener business environment, the National Credit Union Administration (NCUA) has provided 14...
Federal Reserve, Citing Weak Economy, Bolsters Stimulus Efforts
The Federal Reserve, citing economic concerns, has announced a new round of stimulus efforts, including a new policy to purchase agency mortgage-backed securities...
Canadian New Housing Price Index Up Slightly In July
Canada's New Housing Price Index (NHPI) rose 0.1% in July, following a 0.2% increase in June, according to data released by Statistics Canada,...
Money In The Bank…Not!
More than one in four U.S. households are either unbanked or underbanked, according to the Federal Deposit Insurance Corp.'s (FDIC) newly released 2011...
MBA: Mortgage Applications Up 11.1% Last Week
Mortgage applications increased 11.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the...
House Overwhelmingly Passes FHA Fiscal Solvency Act
The House of Representatives offered a relatively rare display of bipartisanship in its 402-7 passage of the Federal Housing Administration (FHA) Fiscal Solvency...
Bankruptcy Court Extends ResCap Reorganization Filing To December
A bankruptcy judge has given Residential Capital LLC (ResCap) an extended deadline of Dec. 20 to complete the filing of its reorganization plan....
Prospect Mortgage Creates Housing Construction Division
Sherman Oaks-based Prospect Mortgage has launched a new division to finance new single-family and condominium homes across the country. The division supports homebuyers,...
Ghana Government Considers $170M Housing Plan For Civil Servants
May it never be said that the government of Ghana does not respect its civil servants, as plans have been presented in the...
Canadian Housing Starts Up In August
Housing starts in Canada were trending at 222,900 units in August, according to new data from Canada Mortgage and Housing Corp. (CMHC). The...
NAHB Improving Markets Index Expands To 99 Metros
The number of improving housing markets across the country rose to 99 in September, according to the National Association of Home Builders (NAHB)/First...
Old Line Bancshares Acquires WSB Holdings
Old Line Bancshares Inc., parent company of Old Line Bank, and WSB Holdings Inc., parent company of The Washington Savings Bank FSB, has...
Minnesota Community Bank Is Shut Down
First Commercial Bank, located in Bloomington, Minn., has become the 41st bank to fail this year. First Commercial Bank was closed by the...
Treasury Launches $18B Public Offering Of AIG Common Stock
The U.S. Department of the Treasury has launched an underwritten public offering of $18 billion of its American International Group Inc. (AIG) common...
Four-Year-Old Mortgage Transaction Raised In Connecticut Senate Race
Mortgage banking has spilled into the U.S. Senate race in Connecticut, with Republican candidate Linda McMahon (pictured top) filing a complain with the...
Korean Government Agency Plans To Triple RMBS Sales
The state-run Korea Housing Finance Corp. is planning to more than triple its sales of residential mortgage-backed securities (RMBS) to investors. According to...
Appeals Court Revives Lawsuit Against Goldman Sachs
It seems as if you cannot have a week pass without a mortgage banking-related lawsuit, and a federal appeals court is keeping the...
NCUA Files Lawsuit Against UBS Securities
The National Credit Union Administration (NCUA) has filed suit in Federal District Court in Kansas against UBS Securities, alleging the investment giant violated...
CFPB Debuts Procedures For Credit Bureau Examinations
The Consumer Financial Protection Bureau (CFPB) has released a field guide outlining the procedures it will use in examining credit bureaus and other...