MSN, Sept. 20, 2020–Doug WhitemanMortgage rates soared over the course of the last week, a daily survey shows, and the apparent reason was a new fee on refinance loans that’s …
Category: Top National News
Coronavirus Pandemic Threatens to Widen Racial Homeownership Gap
Wall Street Journal, Sept. 20, 2020–Amara Omeokwe (subscription)Some analysts warn even as the housing boom bolsters the overall economy, it may widen the longstanding gap in homeownership between Black and …
Democrats Lift U.S. Consumer Sentiment; Current Account Deficit Widens 52.9%
Reuters, Sept. 18, 2020–Lucia MutikaniU.S. consumer sentiment increased in early September, with Democrats more upbeat about the economy’s outlook compared to Republicans ahead of the Nov. 3 presidential election.https://www.reuters.com/article/us-usa-economy/democrats-lift-u-s-consumer-sentiment-current-account-deficit-widens-52-9-idUSKBN26929K
Digital Closings Boomed in the COVID Era, But These Pain Points Remained
National Mortgage News, Sept. 18, 2020–Brad Finkelstein (subscription)Data security, while better than paper-based processes, still can be a problem, according to panelists at Digital Mortgage 2020.https://www.nationalmortgagenews.com/news/digital-closings-boomed-in-the-covid-era-but-these-pain-points-remain
Can a Digital Platform be Less Racist than a Loan Officer?
New York Times, Sept. 18, 2020–Jennifer MillerEarly indications are promising. But automated systems provide rich opportunities to perpetuate bias.https://www.nytimes.com/2020/09/18/business/digital-mortgages.html?auth=login-email&login=email
Government Mortgage Bailout Numbers Improve Slowly, But the Real Test is Ahead
CNBC, Sept. 18, 2020–Diana OlickMortgages in active forbearance programs, where borrowers delay their monthly payments for at least three months, declined by 26,000 last week or 0.7%, according to Black …
Nearly 11 Million Households Missed Mortgage or Rent Payments at Pandemic’s Outset–Study
Mortgage Professional America, Sept. 18, 2020–Ryan SmithNearly 11 million households fell behind on their mortgage or rent payments during the first three months of the COVID-19 pandemic, according to a …
Can Digital Mortgage Platforms Reduce Discrimination in Lending?
New York Times, Sept. 18, 2020–Jennifer MillerEarly indications are promising. But automated systems provide rich opportunities to perpetuate bias. (MBA mention)https://www.nytimes.com/2020/09/18/business/digital-mortgages.html
Millions Are House-Rich but Cash-Poor. Wall Street Landlords Are Ready.
Wall Street Journal, Sept. 18, 2020–Ryan Dezember (subscription)Hardships caused by the coronavirus pandemic are likely to force a lot of sales and create new renters. (MBA mention)https://www.wsj.com/articles/millions-are-house-rich-but-cash-poor-wall-street-landlords-are-ready-11600421401?
More Realty Pitchmen Face Scrutiny
UExpress, Sept. 18, 2020–Lew SichelmanAdd a former get-rich-quick-with-real-estate pitchman on the A&E cable network to the laundry list of realty gurus who have found themselves in the crosshairs of the …