Washington Post, Sept. 24, 2020–Erica Werner, Rachel BadeHouse Speaker Nancy Pelosi (D-Calif.) abruptly shifted course Thursday and moved to assemble a new and smaller coronavirus relief bill to form the …
Category: Top National News
Florida Braces for a Storm of Homeowners Insurance Rate Hikes
Bloomberg, Sept. 24, 2020–James TarmyThe peculiar dynamics of reinsurance and climate have inched the state of Florida toward the precipice of an insurance disaster. Simply put, homeowners’ premiums are set …
Insider Mortgage Fraud Charges Highlight Persistent Industry Risk
National Mortgage News, Sept. 24, 2020–Bonnie Sinnock (subscription)Twelve people were charged in a scheme regarding the creation of 100 fraudulent mortgages in Georgia, according to the HUD inspector general.https://www.nationalmortgagenews.com/news/insider-mortgage-fraud-charges-highlight-persistent-industry-risk
Arcus Lending Creates Mortgage Industry’s First Digital Human
National Mortgage Professional, Sept. 24, 2020–Navi PersaudArcus Lending and Uneeq joined forces to introduce Rachel, the mortgage industry’s first digital human, according to a press release. The Rachel is powered …
Mortgage Holders Falling through Gaps in Safety Net
Houston Chronicle, Sept. 24, 2020–R.A. SchuetzMore than 1 million homeowners are at least 30 days behind on their mortgage payments despite aid from the CARES Act, a sign that the …
Mortgage Rates Rise Amid Positive Housing News
Washington Post, Sept. 24, 2020–Michele LernerMortgage rates rose slightly this week amid positive housing market news and increased demand for home loans. (MBA mention)https://www.washingtonpost.com/business/2020/09/24/mortgage-rates-rise-amid-positive-housing-news/
Pandemic Accelerates Changes to Work Culture
The Hill, Sept. 24, 2020–Niv Elis“What is bad news for the retail sector is good news for the industrial sector, and you might even see real estate being repurposed from …
Truist Sells Legacy SunTrust CRE Loan-Servicing Platform
National Mortgage News, Sept. 23, 2020–Glen Fest (subscription)Truist Financial sold one of its commercial real estate loan servicing and asset-management divisions, shedding a legacy SunTrust Banks platofrm that managed $34 …
U.S. Economy Continues Steady Recovery in September, Business Surveys Show
Wall Street Journal, Sept. 23, 2020–David Harrison, Paul Hannon (subscription)The U.S. economy in September continued its steady recovery from the sharp declines in the second quarter as demand and output …
Michigan State Walk-On Becomes Billionaire by Making Mortgages
Bloomberg, Sept. 23, 2020–By Shahien Nasiripour, Crystal Tse, Tom MaloneyMat Ishbia, a former college basketball player who’s now the chief executive officer of United Wholesale Mortgage, is set to become …