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August 7, 2014

Bank of America, Justice Department, Close to Record Settlement

By Thomas Ressler

Multiple news organizations reported on Wednesday that Bank of America and the Department of Justice are on the verge of agreeing to a settlement valued in excess of $16 billion that would bring to a close mortgage claims stemming from the lead-up to the financial crisis.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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