Latest news from http://www.mortgagebiznews.com http://www.mortgagebiznews.com http://www.nationalmortgagenews.com/dailybriefing/2010_509/cfpb-police-lenders-servicers-1028136-1.html Wed, 04 Jan 2012 16:28:00 -0500 President Obama's recess appointment of Richard Cordray on Wednesday will clear the way for the Consumer Financial Protection Bureau to use its full enforcement and regulatory powers to police all mortgage lenders and servicers. http://www.nationalmortgagenews.com/dailybriefing/2010_509/cfpb-police-lenders-servicers-1028136-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/newday-financial-changes-name-1028135-1.html Wed, 04 Jan 2012 14:57:00 -0500 NewDay Financial LLC, Fulton, Md., has changed its identity to NewDay USA LLC. The USA part of the name looks to call attention to the company from its primary target markets as a Veterans Administration lender and Federal Housing Administration forward and reverse mortgage originator, company management said. http://www.nationalmortgagenews.com/dailybriefing/2010_509/newday-financial-changes-name-1028135-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/collingwood-buys-fha-gnma-firm-1028134-1.html Wed, 04 Jan 2012 14:48:00 -0500 The Collingwood Group, a Washington-based mortgage advisory firm, has acquired GWN Consulting LLC, a specialist in FHA and GNMA risk management and quality control services. http://www.nationalmortgagenews.com/dailybriefing/2010_509/collingwood-buys-fha-gnma-firm-1028134-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/mbs-execs-leaving-sp-1028132-1.html Wed, 04 Jan 2012 14:15:00 -0500 Two more Standard & Poor's executives whose respective roles have included oversight of mortgage-backed securities ratings are leaving the company, possibly as part of an ongoing reorganization, according to a recent Wall Street Journal report. http://www.nationalmortgagenews.com/dailybriefing/2010_509/mbs-execs-leaving-sp-1028132-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/messina-replaces-selitto-phh-1028130-1.html Wed, 04 Jan 2012 13:58:00 -0500 Jerome Selitto has resigned as president and chief executive of PHH Corp., Mt. Laurel, N.J., and has been replaced by the company's chief operating officer Glen Messina. http://www.nationalmortgagenews.com/dailybriefing/2010_509/messina-replaces-selitto-phh-1028130-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/foreign-interest-us-re-strong-1028128-1.html Wed, 04 Jan 2012 13:39:00 -0500 The Association of Foreign Investors in Real Estate's annual survey shows the majority of respondents plan to increase their investment in U.S. commercial real estate this year, even though the percentage is lower than last year's notable high. http://www.nationalmortgagenews.com/dailybriefing/2010_509/foreign-interest-us-re-strong-1028128-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/builders-tapping-pe-firms-1028124-1.html Wed, 04 Jan 2012 12:48:00 -0500 Home builders increasingly are turning to private equity firms for land acquisition loans as banks continue to book losses on legacy loans they made during the housing boom, according to the National Association of Home Builders. http://www.nationalmortgagenews.com/dailybriefing/2010_509/builders-tapping-pe-firms-1028124-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/cordray-cfpb-white-house-recess-appointee-1028119-1.html Wed, 04 Jan 2012 10:56:00 -0500 The White House Wednesday morning signaled its intention to make former Ohio Attorney General Richard Cordray the first director of the Consumer Financial Protection Bureau through a recess appointment. http://www.nationalmortgagenews.com/dailybriefing/2010_509/cordray-cfpb-white-house-recess-appointee-1028119-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/no-relief-reps-warranties-1028118-1.html Wed, 04 Jan 2012 10:31:00 -0500 Although profit margins are still healthy for most mortgage banking firms, net income in the new year will continue to be impacted by "high" rep and warranty expenses, according to a recent report from Keefe, Bruyette & Woods. http://www.nationalmortgagenews.com/dailybriefing/2010_509/no-relief-reps-warranties-1028118-1.html http://www.nationalmortgagenews.com/dailybriefing/2010_509/mortgage-applications-decline-1028117-1.html Wed, 04 Jan 2012 10:23:00 -0500 Mortgage applications fell almost 4% for the holiday week ending December 30, according to new figures compiled by the Mortgage Bankers Association. The decline is calculated on a sequential basis. http://www.nationalmortgagenews.com/dailybriefing/2010_509/mortgage-applications-decline-1028117-1.html