HousingWire, Sept. 1, 2020–Kathleen HowleyFannie Mae and Freddie Mac said a proposal from the Federal Housing Finance Agency to boost their capital could make mortgage borrowing more expensive.https://www.housingwire.com/articles/fannie-freddie-say-fhfas-capital-plan-will-boost-g-fees/
Category: Top National News
Trump Administration Issues Sweeping Eviction Ban
The Hill, Sept. 1, 2020–Sylvan LaneThe Trump administration issued an order Tuesday banning landlords from evicting tenants from properties they can no longer afford to rent due to income lost …
Discount Points on Jumbo Mortgages are Hot Again. Here’s Why.
Wall Street Journal, Sept. 1, 2020–Katy McLaughlin (subscription)High-balance borrowers are paying more in points than they did before COVID-19 hit.https://www.wsj.com/articles/discount-points-jumbo-mortgages-11598979282
U.S. Factory Activity Accelerates as Orders Jump to More than 16-1/2 Year High
Reuters, Sept. 1, 2020–Lucia MutikaniU.S. manufacturing activity increased more than expected in August as new orders surged to their highest level in over 16-1/2 years, but employment at factories continued …
Fed’s Mortgage-Buying Spree at $1 Trillion With No End in Sight
Bloomberg, Sept. 1, 2020–Christopher MaloneyThe Federal Reserve has snapped up $1 trillion of mortgage bonds since March, a record pace of purchasing, as the U.S. central bank tries to blunt …
Pandemic Onset Did Not Cause Delinquency Spike–CFPB
Mortgage Professional America, Sept. 1, 2020–Ryan SmithConsumers didn’t experience significant increases in delinquency or other negative credit outcomes following the onset of the COVID-19 pandemic, according to a new report …
RealPage Acquires Smart Apartment Startup Stratis IoT
HousingWire, Sept. 1, 2020–Julia FalconProptech company RealPage has entered the smart building space. The company paid an undisclosed amount to acquire STratis IoT, a property management tech firm based in …
Guild Mortgage Reports Record Volume In Q2 Of 2020
National Mortgage Professional, Sept. 1, 2020–Navi PersaudGuild Mortgage achieved record total loan volume during both the second quarter and first half of 2020. The total volume includes refinances, purchase loans …
Congressional Investigation Finds Over $1 Billion in PPP Fraud
NBC News, Sept. 1, 2020–Ben PopkenMore than $1 billion in emergency coronavirus aid relief went to companies who “double dipped” and received multiple Paycheck Protection Program loans, in violation of …
Fed Official Says Economy Faces High Uncertainty, Prominent Risks
Wall Street Journal, Sept. 1, 2020–Nick Timiraos (subscription)Federal Reserve Governor Lael Brainard said the economy faces substantial risks, including the premature withdrawal of government spending to support growth, and will …