American Banker, July 15, 2020–Kate Berry (subscription)The Consumer Financial Protection Bureau has sued Townstone Financial, a Chicago-based mortgage lender alleging it engaged in illegal redlining by discouraging prospective Black applicants …
Category: Top National News
Mortgage Rates Could Drop Below 3% by 2021, Fannie Mae Says
MarketWatch, July 15, 2020–Jacob PassyAt the beginning of the coronavirus pandemic, mortgage industry experts forecast that benchmark interest rates might fall, but wouldn’t drop below 3%. But now, most economists …
Software for Detecting Financial Crime is in High Demand. Here’s Why
American Banker, July 15, 2020–Penny Crosman (subscription)Investments in advanced software that can be used to detect money laundering are booming. Over the last year, banks and venture capitalists have poured …
FHFA’s Challenge: Convincing Supreme Court It’s Not CFPB
National Mortgage News, July 15, 2020–Hannah Lang (subscription)A recent ruling declaring the Consumer Financial Protection Bureau’s structure unconstitutional signaled that a similar outcome awaits the Federal Housing Finance Agency. But …
Consumer Appetite for Cars, Homes Bolsters U.S. Economy
Wall Street Journal, July 15, 2020–Sarah Chaney (subscription)Historically low interest rates are luring in auto and home buyers with higher incomes than service-sector workers hardest-hit by pandemic.https://www.wsj.com/articles/consumer-appetite-for-cars-homes-bolsters-u-s-economy-11594805400?mod=hp_lista_pos3
Mortgage Applications Increase In Latest MBA Weekly Survey
National Mortgage Professional, July 15, 2020–Keith GriffinWhere does it end? Mortgage applications continue their upward path with the latest Mortgage Bankers Association weekly survey showing a 5.1% hike.https://nationalmortgageprofessional.com/news/75502/mortgage-applications-increase-latest-weekly-survey
Millions of Americans Have their Mortgages in Forbearance Programs–Here’s Why Those Using Private Lenders May Face Bigger Challenges
CNBC, July 15, 2020–Megan LeonhardtNearly four months after banks and federal agencies started offering a number of assistance programs aimed at giving Americans a break on their mortgages, about 4.1 …
CoreLogic Stands By Rejection of $7 Billion Takeover Bid
HousingWire, July 15, 2020–Mary Ann AzevedoProperty data and analytics company CoreLogic said Tuesday night that it is still not willing to accept a $7 billion unsolicited takeover bid from investors …
Lenders Traverse the Coronavirus Tunnel
Commercial Observer, July 15, 2020–Tom Acitelli (MBA mention)Commercial real estate financing is more volatile now than at any time since the Great Recession due to the novel coronavirus pandemic. Still, …
Consumer Appetite for Cars, Homes Bolsters U.S. Economy
Wall Street Journal, July 15, 2020–Sarah ChaneyHistorically low interest rates are luring in auto and home buyers with higher incomes than service-sector workers hardest-hit by pandemichttps://www.wsj.com/articles/consumer-appetite-for-cars-homes-bolsters-u-s-economy-11594805400?