Contracts, Invoices & Legal

Comptroller of the Currency Jonathan Gould said that the Office of the Comptroller of the Currency would continue to pursue its view on federal preemption of state banking policy in court and in Congress. View the full article

The number of homes with default notices, scheduled auctions or bank repossessions last month was down from January but up 20% from a year ago. View the full article

The Senate passed a bipartisan housing bill in an 89-10 vote, but how quickly and easily the bill can pass the House remains unclear. View the full article

Industry comments are favorable, but with statements like "no bill is perfect" and "bold action is needed," groups want changes before it goes to the president. View the full article

A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign. View the full article

The private investment firm Oksenholt Capital Management holds over 1 million shares of the government-sponsored enterprises' stock, but said that's a small portion of its total portfolio. View the full article

Accounting rules on loan lock timing helped drag down nonbank mortgage profits, the Mortgage Bankers Association said. View the full article

Rising insurance premiums and total ownership costs are driving borrower hesitation in high-cost regions. See how lenders can adapt strategically. View the full article

Eleven defendants face fraud and money laundering charges in a California case involving elderly homeowners and private lenders, prosecutors said. View the full article

The government MBS guarantor ended a 15-day advance notice mandate for extensions on a filing deadline so those with a March 31 due date can still ask for one. View the full article

While San Francisco had the biggest improvement in affordability for prices today versus 2019, Hartford remains in a very deep freeze, First American said. View the full article

Finance of America has not disclosed any incident, but a consumer filed an immediate lawsuit over a lone report of a ransomware gang's recent hack. View the full article

A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained. View the full article

An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts. View the full article

The letter suggests Mortgage Connect review and end the use of any noncompete or other agreements that aren't necessary and to notify workers of updates. View the full article

More homes nationwide went under contract in April compared to last spring, while inventory growth, while cooler, is returning to average historical levels. View the full article

The FHA extended the mandatory implementation date for the waterfall but there are still some things changing on Oct. 1, when the government could shut down. View the full article

A lapse in the National Flood Insurance Program because of the US government shutdown threatens to snarl home sales in the nation's riskiest floodplains and leave some homeowners without coverage in the middle of hurricane season.

Karsten Giesecke and Michael Karol join Morriello to represent clients such as lenders and private equity funds in transactions including RMBS, CMBS, franchise loans and esoteric assets. View the full article

Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction. View the full article

While all six companies were profitable in the third quarter, most had earnings which were down from the prior periods, with MGIC setting a milestone. View the full article

Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question. View the full article

Origination has picked up but has limits, retention rates are improving and stakeholders are seeking a recapture standard, experts at an industry meeting said. View the full article

Consecutive weeks of mortgage rate increases resulted in a 5.2% decrease in mortgage loan application volume, according to the Mortgage Bankers Association. View the full article