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Christmas Day is only ten days away, and thrill-seeking mortgage bankers and Realtors everywhere are wondering what they'll find under their tree. How about a pogo-stick ? Anyone with a talent for finance should listen up. A mid-sized mortgage bank in Northern California is searching for a Chief of Finance...
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Hey, if you're still originating loans now, you may-as-well stick around another year, right? The 2012 NMLS Streamlined Renewal Process is underway . This year, over 16,000 companies and 115,000 state-licensed mortgage loan originators, holding licenses from one or more of the 58 state agencies using...
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Regardless of what my kids say, this commentary hasn't been around long enough to have ever been written by candlelight. But starting next year I will be able to say I used incandescent light . On Jan 1, 2012, the 100-watt incandescent light bulb will cease to exist by law, which should help save energy...
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The Federal Reserve, Office of Comptroller of the Currency (OCC), FDIC, and Office of Thrift Supervision (OTC) have issued formal enforcement actions against 14 banking and two loan servicing related organizations which they found had demonstrated a "pattern of misconduct and negligence related to deficient...
Posted to
MND NewsWire
by
Jann Swanson
on
Wed, Apr 13 2011
Filed under:
Filed under: Federal Reserve, FDIC, OCC, foreclosure, loss mitigation, FHFA, metlife, Loan Servicer, LPS, MERS, STAR, Servicer Total Achievement and Rewards, State Attorneys, Servicer Settlment, Loan Servicer Reform, Servicer Compensation, U.S. Bancorp, HSBC North America Holdings, SunTrust Banks, Aurora Bank, EverBank, JPMorgan Chase & Co., Wells Fargo & Company, Ally Financial Inc., Sovereign Bank, Citigroup Inc., OneWest Bank, The PNC Financial Services Group, Inc., Bank of America Corporation
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Harkening back to the Prius' brake recall issue, this bumper sticker was seen: "TOYOTA: Once you drive one, you'll never stop." Pun aside, I would imagine that some in the mortgage banking business wonder if "it" (large-scale regulatory change) will ever stop, while others...
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The Office of the Comptroller of the Currency, Treasury, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation (FDIC), U.S.Securities and Exchange Commission; Federal Housing Finance Agency (FHFA) and Department of Housing and Urban Development (HUD) have released a...
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Commercial banks and savings institutions with FDIC insurance have seen a sizable increase in profitability over the last year according to the FDIC . The 7,760 banks that reported to the FDIC stated an aggregate profit of $14.5 billion in the third quarter. This is an increase of $12.5 billion from...
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Today is Friday, the day of the week that smaller "on the bubble" banks dread most. What happens to the delinquent loans that the FDIC and its partner banks assume? They are sold - the most recent example being the sale of a 40% equity interest in a limited liability company (LLC) created to hold assets...
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My mother never told me to become a lawyer. Wise advice or not, attorneys have their hands (and billing records) full of mortgage-related issues. Yesterday California filed a lawsuit against Fannie, Freddie, and the FHFA over their opposition to a home energy-improvement program backed by the Obama administration...
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While she stopped just short of the mark, Federal Deposit Insurance Corporation Chairperson Sheila C. Bair came close to suggesting Monday that the government put less emphasis on home ownership in favor of promoting rental housing. This was one of three recommendations for putting the mortgage industry...
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If you've never seen footage of an actual landslide (and I hadn't), this is the stuff of nightmares: WOW Do people change over time? Of course they do. Do companies? They do as well. Coca Cola Inc., for example, doesn't just produce Coke. They own Gatorade, various water companies, bottling...
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Sorry the commentary is a little late this morning, but I was out late celebrating. Yesterday afternoon I heard an ad on the radio saying that all the credit card debt I ran up last year buying a flat screen, ATV, and new appliances was not my fault! The ad said that the credit card company was at fault...
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There is the story of a pastor who got up one Sunday and announced to his congregation, "I have good news and bad news. The good news is we have enough money to pay for our new building program. The bad news is...it's still out there in your pockets." Apparently the Fed thinks that we have...
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Do you live in a flood plain, or have borrowers that do? Be forewarned that the Senate adjourned Friday without extending the National Flood Insurance Program . Language that would have kept the program in place until April 30 was part of a more comprehensive House bill that extended a variety of federal...
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Overwhelmed managing your 40-50 employees? Here's a look at the number of employees at the biggest banks. A few others are BB&T (32,809), Suntrust (28,015), Comerica (9,385), City National (Los Angeles, 2,891), Sterling Financial (Spokane, 2,601), Umpqua (1,840), Capitol Bancorp (Michigan 1,345...