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GOP Suspends Rules, Advances Mnuchin Vote

Despite an ongoing boycott by Senate Democrats, the GOP members of the Senate Finance Committee used a parliamentary rule to advance the confirmation of Treasury Secretary nominee Steven Mnuchin to a full Senate vote on Wednesday.

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Homebuyers Undeterred in December

An increase in demand for homes in the last month of 2016 indicates that 2017 will be a strong year for home sales, despite the fact that there has been a low supply of homes listed on the market.

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CitiMortgage Accelerates Close of Mortgage Servicing Business

The move represents the company’s “increasing focus on retail banking customers,” Director of Citi Public Affairs Mark Rodgers told MReport. As the release notes, all loans sold to New Residential in the agreement were third-party loans, and CitiMortgage plans to maintain its focus on all loans which originated within the firm’s retail banking unit.

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Freddie Mac Portfolio Growth at 8 Year High

Freddie Mac released a summary detailing the performance of it’s mortgage portfolio, showing not only record high gains year-over-year for December but a strong 2016 overall for the GSE. See just how much better the company fared in 2016 over previous years...

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Groups Voice Concerns Over OCC’s FinTech Charter

lending

The Office of the Comptroller of the Currency’s announcement in early December that it would grant a special purpose national bank charter to non-bank financial technology companies is causing no small amount of concern in the industry.

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