We continue to hear reports that Freddie Mac may have settled on a choice for a new CEO. Back in September, the GSE named David Brickman — just promoted to the role of president from executive vice president/head of multifamily — as a possible internal candidate to succeed retiring CEO Don Layton.
A federal district court has certified a class-action lawsuit against Wells Fargo brought on behalf of loan officers for alleged clawback of commissions and overtime wages.
Federally regulated financial institutions must accept private flood insurance on loans secured by properties in special flood hazard areas, according to a partially approved inter-agency final rule.
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 Mortgage Bankers Association has published a primer to help commercial and multifamily lenders in the impending transition away from the London Interbank Offered Rate to an alternative rate index.
Approval of new MBS issuers by Ginnie Mae fell drastically in 2018. Data provided by the agency showed that only eight out of 28 applications received last year were approved. In the year before, Ginnie approved 22 out of 31 applications.