The New York Department of Financial Services last week rejected Fidelity National Financial’s application to acquire control of Stewart Information Services’ NY-based title insurance company.
The share price of mortgage software giant Ellie Mae took off like a rocket early this week after rumors began swirling around the industry that the company is pondering a sale.
Sen. Mike Crapo, R-ID, chair of the Senate Committee on Banking, Housing, and Urban Affairs, stirred the housing-finance reform pot last week, releasing a plan to bring Fannie Mae and Freddie Mac out of conservatorship.
The road to reforming Fannie Mae and Freddie Mac took another left turn this week with Treasury Secretary Steve Mnuchin applauding Congressional efforts on the initiative but then declaring, if need be, Treasury would go it alone.
BB&T Corp. and SunTrust Banks late in the week unveiled plans to merge in a deal valued at $66.0 billion, one that will create, pro forma, the nation’s ninth-largest home originator as well as the ninth-largest servicer.
It didn’t really matter much what part of the mortgage market lenders focused on in late 2018, production fell by roughly equal degrees in the major product groups, according to an exclusive new Inside Mortgage Finance analysis. [Includes two data charts.]
The record-long government shutdown had little direct impact on mortgage lending and home sales, according to industry stakeholders. However, it may take a while before business processes return to normal, they said.
Several new appointees to the House Financial Services Committee are likely to focus on important issues in housing finance, particularly affordable housing and fair lending, based on their past experiences.
Two large lenders saw a decline in origination volumes in the fourth quarter because they weren’t willing to compete on price, officials at the firms said.
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