Bloomberg, Nov. 12, 2019–Christopher Condon, Rich MillerFederal Reserve Chairman Jerome Powell is likely to signal again this week that monetary policy is on hold, buttressing the belief that he may …
Category: Top National News
As CFPB Prepares to End QM Patch, Congress Tries to Soften the Blow
National Mortgage News, Nov. 12, 2019–Brendan Pedersen (subscription)Just as the Consumer Financial Protection Bureau wants to end a regulatory exemption for loans backed by Fannie Mae and Freddie Mac, some …
Boomers Want to Stay Home. Senior Housing Now Faces a Budding Glut
Wall Street Journal, Nov. 12, 2019–Peter Grant (subscription)The rise of technologies that help the elderly stay in their homes threatens to upend one of commercial real estate’s biggest bets: Aging …
Higher Level of Mortgage Credit Availability in October
National Mortgage Professional Magazine, Nov. 12, 2019–Phil HallMortgage credit availability was on the rise last month, according to new data from the Mortgage Bankers Association.https://nationalmortgageprofessional.com/news/72911/higher-level-mortgage-credit-availability-october
Congress Considers Fix to QM Patch
HousingWire, Nov. 11, 2019–Kathleen HowleyCongress will consider legislation on Wednesday to fix the so-called QM Patch that permits some loans to borrowers with high debt levels to be considered Qualified …
Jerome Powell’s Narrow Path to a Second Term as Fed Chair
American Banker, Nov. 10, 2019–John Heltman (subscription)With more than two years left in his term as Federal Reserve chairman, Jerome Powell finds himself in a unique bind: Neither the president …
Zillow Experiences Growing Pains as It Moves from Listing Homes to Buying Them
HousingWire, Nov. 11, 2019–Julia FalconWhile the company is seeing positive results in terms of growth and revenue generation, Zillow is also experiencing some serious financial growing pains as it expands.https://www.housingwire.com/articles/zillow-experiences-growing-pains-as-it-moves-from-listing-houses-to-buying-them/
VA Mortgage Lending Increases Almost 9% as Refinancing Rebounds
National Mortgage News, Nov. 11, 2019–Bonnie Sinnock (subscription)Dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing …
Subprime Mortgages Keep Minting Cash for Ex-Bear Stearns Banker
Bloomberg, Nov. 11, 2019–Josh SaulSubprime mortgages may have wreaked havoc on the U.S. economy over the past decade, but they have been very good to Tom Marano.https://www.bloomberg.com/news/articles/2019-11-11/subprime-mortgages-keep-minting-cash-for-ex-bear-stearns-banker
HUD Promotes Former CFPB Official Criticized for Blog Posts
National Mortgage News, Nov. 8, 2019–Hannah Lang (subscription)Eric Blankenstein, a former official at the Consumer Financial Protection Bureau whose racially charged blog posts sparked controversy, has been promoted to acting …