National Mortgage News, June 29, 2020–Brad Finkelstein (subscription)idespread uncertainties regarding income and employment have resulted in the first increase in mortgage loan application defect risk in 15 months, First American …
Category: Top National News
Mortgages Still Difficult For Blacks To Get
National Mortgage Professional, June 29, 2020–Keith GriffinNew research published by the Consumer Financial Protection Bureau shows Blacks are more likely to be denied mortgages compared with white borrowers. On the …
Millions of American Homes at Greater Flood Risk Than Government Estimates, New Study Says
Wall Street Journal, June 29, 2020–Nicole Friedman (subscription)Nearly six million properties across the U.S. have a substantial risk of flooding that isn’t disclosed by federal flood maps, according to nonprofit …
‘Flying Blind Into a Credit Storm’: Widespread Deferrals Mean Banks Can’t Tell Who’s Creditworthy
Wall Street Journal, June 29, 2020–AnnaMaria Andriotis (subscription)Banks have pulled back sharply on lending to U.S. consumers during the coronavirus crisis. One reason: They can’t tell who is creditworthy anymore.https://www.wsj.com/articles/flying-blind-into-a-credit-storm-widespread-deferrals-mean-banks-cant-tell-whos-creditworthy-11593423001?mod=hp_featst_pos3
FDIC Considers Scrapping Quarterly Bank Reports
Wall Street Journal, June 28, 2020–Andrew Ackerman (subscription)The Federal Deposit Insurance Corp. is moving to boost the way it monitors for risks at thousands of U.S. banks, potentially scrapping quarterly …
Big Savings Available by Refinancing Mortgage at Today’s Historically Low Rates
South Florida Sun-Sentinel, June 27, 2020–Ron HurtibiseWhen rates are this low, it makes sense to look into refinancing if your loan rate is at least a half of a percentage …
Here are Five Charts Illustrating the U.S. Economic Recovery Amid the Coronavirus Pandemic
CNBC, June 28, 2020–Nate Rattner, Hannah MillerThough mortgage applications for purchasing a single-family home are 18% higher compared to the same week last year, they did see a slight decrease …
Manhattan Office Rents Seen Plunging 26% in Prolonged Downturn
Bloomberg, June 26, 2020–Natalie WongManhattan’s office rents are likely to plummet to the lowest level since 2012 if the U.S. economy doesn’t recover quickly from the pandemic. Asking rents could …
CoreLogic Receives Unsolicited Takeover Bid
HousingWire, June 26, 2020–Sarah WheelerCannae is led by Bill Foley, the chairman of Black Knight, a data and analytics company that directly competes with CoreLogic. Foley, whom the letter calls …
Battle Lines Harden Over Low-Income Lending Rules
Wall Street Journal, June 26, 2020–Andrew Ackerman (subscription)House Democrats challenge Trump administration’s overhaul of rules around Community Reinvestment Act.https://www.wsj.com/articles/battle-lines-harden-over-low-income-lending-rules-11593187423?mod=hp_listb_pos3