ACA News, Sept. 17, 2020The court will hear arguments in the case, focused on the definition of an autodialer under the TCPA, in December. (MBA mention)https://www.acainternational.org/news/scotus-sets-facebook-inc-v-duguid-oral-arguments
Category: Top National News
Fed to Pitch CRA Revamp of Its Own as Regulators Chart Different Paths
American Banker, Sept. 17, 2020–Hannah Lang (subscription)The Federal Reserve Board will discuss an advance notice of proposed rulemaking on the Community Reinvestment Act at an open meeting. The central bank …
Fed Details New Round of Big-Bank Stress Tests
Wall Street Journal, Sept. 17, 2020–Andrew Ackerman (subscription)The Federal Reserve will analyze large banks’ ability to withstand two coronavirus-related recession scenarios as part of a second round of stress tests …
Why are the Lowest Mortgage Rates So Hard to Capture
Orange County Register, Sept. 17, 2020–Jeff LazersonMortgage shopping can be exhausting because there are so many moving parts to mortgage pricing, program availability and down payment requirements. (MBA mention)https://www.ocregister.com/2020/09/17/why-are-the-lowest-mortgage-rates-so-hard-to-capture/
‘Flat to Slightly Down:’ 3Q Loan Demand Disappoints
American Banker, Sept. 17, 2020–Allissa Kline (subscription)Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection …
LoanDepot Could Make Public Debut This Year at Up to $15B
HousingWire, Sept. 17, 2020–James KleimannLoanDepot is poised to go public later this year, becoming “Lyft to Rocket Mortgage’s Uber,” according to a new report.https://www.housingwire.com/articles/loandepot-could-make-public-debut-this-year-at-up-to-15b/
A Million Mortgage Borrowers Fall Through Covid-19 Safety Net
Wall Street Journal, Sept. 17, 2020–Andrew Ackerman (subscription)About one million homeowners have fallen through the safety net Congress set up early in the coronavirus pandemic to protect borrowers from losing …
Mortgage Rates Remain Near Historic Lows
Washington Post, Sept. 17, 2020–Kathy OrtonThe Federal Reserve continues to do everything it can to encourage people to buy homes and refinance their mortgages. Its policies are helping keep rates …
A Million Mortgage Borrowers Fall Through Covid-19 Safety Net
Wall Street Journal, Sept. 17, 2020–Andrew Ackerman (subscription)About one million homeowners have fallen through the safety net Congress set up early in the coronavirus pandemic to protect borrowers from losing …
Fading Fiscal Stimulus Restraining U.S. Consumer Spending
Reuters, Sept. 16, 2020–Lucia MutikaniU.S. consumer spending slowed in August, with a key retail sales gauge unexpectedly declining, as extended unemployment benefits were cut for millions of Americans, offering more …