The Office of the Comptroller of the Currency (OCC) announced the appointment of Kathy Murphy as the agency's senior deputy comptroller for management and CFO.
Read More »California Ranks Fourth for Home Flipping
Despite seeing a decline in average gross return on investment (ROI) and average gross profit on flipped homes, California still ranked fourth among the 50 states and the District of Columbia in flipped homes as a percentage of total sales in Q2, according to RealtyTrac.
Read More »RedVision Names EVP for Sales, Marketing
RedVision, an independent, nationwide provider of real property title data, search examination, and curative-ready solutions, appointed Leanne Zinn-Cox as EVP of sales and marketing.
Read More »FHFA Extends Comment Period for Proposed FHLB Rule
The Federal Housing Finance Agency (FHFA) announced on Monday a 60-day extension for the comment period for proposed rule to revise membership requirements for Federal Home Loan Banks. FHFA gave as its reasons for extending the comment period the importance of the issues being addressed, the high interest level in the proposal, and requests from stakeholders for more time to evaluate the proposal.
Read More »Labor Market Index Improves After Four-Month Slowdown
After slowing for the fourth straight month in August, the Federal Reserve's gauge of conditions in the labor market made a slight recovery in September. The Fed's labor market conditions index, which the central bank said it will now release on a monthly basis, added 2.5 points in September after increasing only 2 points in August—its lowest pace of growth in 13 months.
Read More »Former FHFA Official Joins Business Advisory Firm
Meg Burns, former senior associate director for the Federal Housing Finance Agency (FHFA), has signed on to the Washington, D.C.-based Collingwood Group as managing director, the company announced.
Read More »Illinois Bank Settles Over Alleged Fair Housing Violations
Midland States Bancorp, headquartered in Effingham, Illinois, will originate $8 million in mortgage loans in minority neighborhoods over the next three years to resolve charges that it previously avoided doing business or establishing branches in predominantly black and Hispanic neighborhoods in St. Louis and northern Illinois, according to an announcement from HUD.
Read More »RMBS Class Action to Proceed Against JPMorgan Chase
A ruling issued by a federal judge this week clears the way for investors to proceed with a class-action suit against JPMorgan Chase, meaning that all the investors can be represented by a lead plaintiff in the case. Investors are accusing the bank of misleading them by making false statements regarding the RMBS when the securities were packaged and sold to the investors in 2007, a year before the subprime lending crisis.
Read More »CFPB Fines Michigan Title Insurer Over Kickback Agreements
According to an announcement from the bureau, Lighthouse Title, which operates in branches throughout the state, entered into marketing services agreements (MSAs) with various companies "with the understanding that the companies would refer mortgage closings and title insurance business to Lighthouse."
Read More »Freddie Mac’s Portfolio Resumes Decline in August
After posting a slight increase in July, Freddie Mac's mortgage portfolio declined at an annualized rate of 0.4 percent over the month of August, according to the GSE's latest monthly volume summary. Year-to-date, the portfolio's annualized growth rate has averaged -1.6 percent, bolstered by declines near or higher than 2 percent in each of the first five months of the year.
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