Wall Street Journal, Feb. 12, 2020–Josh Mitchell (subscription)The U.S. government will forgive $207.4 billion in student debt for Americans who take out loans over the next decade, the Congressional Budget …
Category: Top National News
Fitch Raises Red Flags About CFPB Plan to Eliminate DTI Requirements from QM Lending Rules
HousingWire, Feb. 12, 2020–Ben LaneSome of the nation’s largest mortgage lenders and housing trade groups [including the Mortgage Bankers Association] may support the Consumer Financial Protection Bureau’s plan to eliminate …
As Congress Prepares to Vet Judy Shelton, Worries About the Fed’s Future Mount
New York Times, Feb. 12, 2020–Jeanna SmialekSenators will vet Judy Shelton, a prominent Federal Reserve critic, for one of the central bank’s top jobs on Thursday, a moment that many …
PNC Ordered to Pay Ex-Employee $2.4M in Sexual Harrassment Case
American Banker, Feb. 12, 2020–Jon Prior (subscription)https://www.americanbanker.com/news/pnc-ordered-to-pay-ex-employee-2-4m-in-sexual-harassment-case
Powell Says Low Inflation Creates New Challenges for Fed
Wall Street Journal, Feb. 12, 2020–Nick Timiraos (subscription)Federal Reserve Chairman Jerome Powell told lawmakers Wednesday the central bank wanted to update its policy-setting manual to address an economic environment in …
Homebuying Season Definitely Started Early this Year
HousingWire, Feb. 12, 2020–Alcynna LloydTypically, spring homebuying season starts in earnest as the calendar ticks toward March, but homebuyers are seemingly getting an earlier start this year, perhaps driven into …
Citigroup’s New Place to Sell Its Mortgage Loans: Muni Market
Bloomberg, Feb. 12, 2020–Martin Z. BraunStarting last year, Citigroup, the biggest U.S. affordable housing lender, has underwritten four tax-exempt bond issues for state and local government agencies that used $1.4 …
Deficit Spikes 25 Percent Through January
The Hill, Feb. 12, 2020–Niv ElisThe federal deficit through January climbed to $389 billion, a 25 percent spike over the same period last year, according to Treasury Department data released …
Commercial and Multifamily Mortgage Maturities to Increase in 2020
Mortgage Professional America, Feb. 12, 2020–Candyd MendozaSeven percent of outstanding commercial and multifamily mortgages will mature in 2020, according to the Mortgage Bankers Association.https://www.mpamag.com/news/commercial-and-multifamily-mortgage-maturities-to-increase-in-2020-213388.aspx
Mini-Mortgage Refinance Boom Continues as Coronavirus Keeps Rates Low
CBNC, Feb. 12, 2020–Diana OlickMortgage lenders were busy last week, but mostly with current homeowners looking to take advantage of low mortgage rates. Total mortgage application volume increased 1.1% compared …