Politico, June 12, 2020–Katy O’DonnellA federal moratorium on evictions — which only applies to the 1 in 4 rental units that are backed by the government — expires in a …
Category: Top National News
Self-Employed Borrowers Face New Scrutiny from Fannie, Freddie
Orange County Register, June 11, 2020–Jeff LazersonNearly one in 10 U.S. workers is self-employed, according to the U.S. Bureau of Labor Statistics. If you own 25% or more of a …
Quicken Loans, the Largest U.S. Mortgage Lender, is Planning an IPO…
CNBC, June 11, 2020–Leslie PickerThe company, founded and owned by Detroit-billionaire Dan Gilbert, has filed its IPO prospectus confidentially, sources said, and may flip it to be public as soon …
California Tables ‘Mini-CFPB’ Idea–for Now
American Banker, June 11, 2020–Kate Berry (subscription)With days to go before a key deadline for California legislators, a plan to establish a new state consumer financial protection agency is shrouded …
Haus Raises $15.75 Million in Series A Round
HousingWire, June 11, 2020–Julia FalconReal estate tech company Haus has raised $15.75 million in Series A funding led by BlueRun Ventures.https://www.housingwire.com/articles/haus-raises-15-75-million-in-series-a-round/
A Month into Reopening, No Clear Turn for U.S. Economy or Pandemic
Reuters, June 11, 2020–Howard SchneiderA month into efforts to broadly reopen the U.S. economy there is little clarity either on the pace and durability of the recovery, or on the …
Jerome Powell Sees Long Road Ahead for Jobs Market
Bloomberg, June 11, 2020–Rich MillerPresident Donald Trump says the U.S. economy will be back and better than ever next year. Federal Reserve Chairman Jerome Powell begs to differ.https://www.bloomberg.com/news/articles/2020-06-11/powell-sees-long-road-ahead-for-jobs-market-even-as-trump-cheers?srnd=premium
Why Lenders are Wary of FHA’s Terms for Buying Loans with Forbearance
National Mortgage News, June 10, 2020–Bonnie Sinnock (subscription)Lenders are concerned about a risk requirement imposed by a recent Federal Housing Administration measure aimed at opening up homeownership opportunities that might …
U.S. Households’ Net Worth Had Record Fall in First Quarter
Wall Street Journal, June 11, 2020–Paul Kiernan (subscription)The net worth of U.S. households saw a record decline in the first three months of this year as the coronavirus pandemic sent …
Mortgage Rates Level Off Amid Conflicting Economic News
Washington Post, June 11, 2020–Kathy OrtonThe unexpected decrease in unemployment last week followed by confirmation that the U.S. economy officially went into a recession in February held mortgage rates in …