National Mortgage Professional, Jan. 27, 2020–Phil HallThree out of four Millennials believe that being a first-time homebuyer is an overwhelming process, according to TD Bank’s First-Time Homebuyer Pulse. But despite …
Category: Top National News
Mortgage Rates Drop to 5-Month Low as Coronavirus Fears Fuel the Bond Market
CNBC, Jan. 27, 2020–Diana OlickAs fears over the coronavirus roil global financial markets, investors are rushing to the relative safety of bonds. As a result, mortgage rates are falling.https://www.cnbc.com/2020/01/27/mortgage-rates-drop-to-5-month-low-as-coronavirus-fears-fuel-bonds.html
House to Vote on Credit Reform Bill
HousingWire, Jan. 27, 2020–Kathleen HowleyThe House is poised to vote on a package of credit reporting reforms this week that includes banning the inclusion of mortgage delinquencies if it’s determined …
Five Housing Market Predictions For 2020
Forbes, Jan. 27, 2020–Fred McGillIn 2019 we saw interest rates drop, housing inventory remain low and hot markets continue to heat up. Will those trends persist in 2020? Will home …
New Risk to World Economy: Synchronized Housing Slowdown
Wall Street Journal, Jan. 27, 2020–Sarah Chaney (subscription)Housing markets across the world, from the U.K. to China to Australia, are losing steam, holding back prospects for the global economy that …
Your Credit Score May Soon Change. Here’s Why
New York Times, Jan. 25, 2020–Tara Siegel BernardFICO is tweaking its all-important formula. Scores will rise for about 40 million people and drop for another 40 million.https://www.nytimes.com/2020/01/25/business/credit-score-fico-change.html?nl=todaysheadlines&emc=edit_th_200127?campaign_id=2&instance_id=15333&segment_id=20686&user_id=e670283fb4fff3d4391d6f88569ad498®i_id=420636740127
CFPB Now Taking Friendlier Approach to Financial Abuses
HousingWire, Jan. 24, 2020–Ben LaneThe Consumer Financial Protection Bureau announced Friday that, effective immediately, it is changing its approach to “abusive” practices and limiting its own ability to pursue claims …
CFPB’s Backers Tell High Court That Agency’s Structure is Legal
American Banker, Jan. 24, 2020–Kate Berry (subscription)Defenders of the Consumer Financial Protection Bureau argue that Congress has broad authority to structure independent agencies and that the CFPB “fits comfortably” within …
U.S. Bank Regulator Sharpens Teeth on Wells Fargo, Surprising Critics
Reuters, Jan. 24, 2020–Pete Schroeder, Chris PrenticeLong accused of being too soft, the Office of the Comptroller of the Currency surprised its critics with tough treatment of scandal-ridden lender Wells …
Howard Bancorp in Md. to Exit Mortgage Lending
American Banker, Jan. 24, 2020–Paul Davis (subscription)The $2.4 billion-asset company said in a press release Tuesday that it will transfer the business, along with the domain name VAmortgage.com, to a …