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Nomura Reaches $480 Million RMBS Settlement
The government and the American subsidiary of Nomura Holdings Inc. have reached a settlement over allegations the investment banker misled investors about residential mortgage-backed securities. Nomura Holding America Inc. is accused by the...
Mortgage Executives Land New Jobs
While there was some movement in the C-Suites of the mortgage industry, much of the recent activity among the executive ranks has been confined to middle managers. Freddie Mac disclosed last month that John Krenitsky has been hired as senior vice...
MSRs Offered on Small GSE Portfolio
Bids are being sought for the servicing on a small portfolio of government-sponsored enterprise mortgages. The loans have a New England concentration. Mortgage-servicing rights are being offered on a portfolio of 2,084 single-family loans that had...
PHH "Extremely Gratified" By CFPB Dismissal
PHH Corp. is celebrating the Consumer Financial Protection Bureau's dismissal of a closely watched case involving alleged violations of the Real Estate Settlement Procedures Act. At issue are reinsurance payments collected by the Mount Laurel,...
Big Consolidation at Bank w/$2 Bil in Mortgages
A bank with a mortgage investment portfolio of more than $2 billion is unloading a consumer lending subsidiary and closing branches. As of March 31, F.N.B. Corp. had $2.131 billion in residential mortgages on its balance sheet, according to its...
Refinancing to Eliminate Mortgage Insurance
With interest rates no longer at rock-bottom levels, few borrowers still have an opportunity to profit by refinancing into a lower interest rate. However, the escalation of house prices in many areas raises the possibility of profitable refinances...
MBA Reveals New CEO
After months of speculation, the Mortgage Bankers Association has found a replacement for its departing iconic leader. The new chief is a seasoned executive with an Ivy League education. Back in October 2017, the Washington-based association...
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Man Murdered While Appraising Property
DETROIT -- A Harrison Township man is facing murder and other charges after prosecutors say he shot two men attempting to secure his former business that had been foreclosed on. David Erwin Unger, 55, shot and killed 56-year-old Mark Siecinski of...
Rising Rates Drive ARM Share to 16-Month High
As interest rates on home loans climbed to the highest levels in seven years, refinances led weekly mortgage applications lower, and adjustable-rate mortgage share jumped to a 16-month high. Retail applications for residential loans during the...
Serious Mortgage Delinquency at 11-Year Low
Monthly mortgage delinquency tumbled, and further declines are expected except in the Aloha State and the Mid Atlantic. Serious delinquency was the lowest it's been in more than a decade. Residential loans delinquent at least a month, including...
Interim CEO Starts Next Week at Fannie
The president and chief executive who has guided the Federal National Mortgage Association through $180 billion in profits is leaving next week. Timothy J. Mayopoulos was appointed president and CEO of Fannie Mae in 2012. He originally joined the...
HSBC Finalizes Large Subprime RMBS Settlement
A large settlement being negotiated between the government and HSBC Holdings plc over the British bank's role in the issuance of residential mortgage-backed securities has been finalized. In August, a filing with the Securities and Exchange...
Mortgage Broker Group Launches
Mortgage Broker Group Launches Last Updated October 8, 2018 6:08 PM Central Over 2 Dozens Mortgage Events in Q4 More than two dozen events are on the Mortgage Daily Mortgage Conference Calendar for the final quarter of this year. Their locations...
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