National Mortgage News, Sept. 4, 2020–Bonnie Sinnock (subscription)Nonbank mortgage bankers and brokers’ collective payrolls expanded by nearly 2% on a consecutive-month basis and were up 9% from a year ago …
Category: Top National News
CDC’s New Eviction Moratorium Met with Worry from U.S. Housing Providers
Mortgage Professional America, Sept. 4, 2020–Clayton JarvisMortgage Bankers Association CEO Bob Broeksmit described the destabilizing cascade effect a lack of rent payments could have on the country’s housing providers, “millions” …
Odd Lots: Help, War, Move, Winner
UExpress, Sept. 4, 2020–Lew SichelmanThe number of homeowners seeking mortgage forbearance fell for at least eight straight weeks this summer. But that decline masks a couple of other important trends. …
15-Year Fixed Mortgages Drop to Record Lows
Orange County Register, Sept. 3, 2020–Jeff LazersonThirty-year fixed mortgage rates rose slightly in the week ending Thursday, Sept. 3, but still were at their third-lowest level in records dating back …
Mnuchin, Pelosi Reach Informal Deal to Avoid Government Shutdown
The Hill, Sept. 3, 2020–Scott WongTreasury Secretary Steven Mnuchin and Speaker Nancy Pelosi (D-Calif.) have informally agreed to pursue a clean, short-term stopgap measure to avert a government shutdown at …
CFPB’s Latest Underwriting Revamp Seen as Boon to Fintechs, GSEs
American Banker, Sept. 2, 2020–Kate Berry (subscription)The agency’s plan to extend the “qualified mortgage” stamp of approval to more loans could help lenders that rely on alternative data and cushion …
Fed’s Evans Calls for More Fiscal Aid, Signals Further Monetary Easing
Reuters, Sept. 3, 2020–Ann SaphirThe head of the Chicago Federal Reserve on Thursday called on Congress to deliver more fiscal aid and signaled U.S. monetary policy would be eased further …
Black Borrowers Pay More for Mortgages Throughout the Country–Study
Mortgage Professional America, Sept. 3, 2020–Ryan SmithBlack home buyers are offered higher mortgage rates on average than the general population in every major metro area in the nation, a LendingTree …
Why is the Housing Market Thriving in a Pandemic?
HousingWire, Sept. 2, 2020–Kathleen HowleyThe deadliest pandemic in more than a century has failed to derail the housing market because of the lowest mortgage rates ever recorded coupled with a …
Rocket Expects 3Q Volume to top 2Q Record But Margins Will Shrink
National Mortgage News, Sept. 3, 2020–Brad Finkelstein (subscription)Mortgage originations at Rocket Cos. will increase from the record set in the second quarter, but gain-on-sale margins should be lower for the …