National Mortgage News, Feb. 28, 2020–Bonnie Sinnock (subscription)Here’s a look at five ways servicing conditions are evolving, according to industry professionals who attended the Mortgage Bankers Association’s national servicing conference.https://www.nationalmortgagenews.com/list/5-ways-mortgage-servicing-is-evolving
Category: Top National News
‘Risk is Very High,’ Warns WHO, as Coronavirus Wipes $6 Trillion Off Markets
Reuters, Feb. 28, 2020–Stephanie Nebehay, Ryan WooThe coronavirus spread further on Friday, with cases reported for the first time in six countries across three continents, battering markets and leading the …
Average FICO Score Reaches Record High, Experian Says
HousingWire, Feb. 28, 2020–Kathleen HowleyThe average U.S. FICO score hit a record high of 703 in 2019, driven by Americans in their 30s, as a strong labor market helped people …
Freddie Mac: More Than Half of States Face a Supply Shortage
National Mortgage Professional, Feb. 28, 2020–Phil HallFreddie Mac found Oregon has the largest housing supply deficit, followed by California, Minnesota, Florida, Colorado and Texas; the District of Columbia was not …
Federal Reserve Will ‘Act as Appropriate to Support the Economy’
Wall Street Journal, Feb. 28, 2020–Nick Timiraos (subscription)Federal Reserve Chairman Jerome Powell signaled Friday the central bank was prepared to cut interest rates if needed.https://www.wsj.com/articles/fed-s-powell-will-act-as-appropriate-to-support-the-economy-11582918842
Mortgage Rates Just Hit an 8-Year Low. Here’s Why They’re Not Even Lower
CNBC, Feb. 28, 2020–Diana OlickMortgage rates are not falling quite as fast as Treasury yields, because of the swiftness of the declines and the resulting risk to investors in mortgage-backed …
JPMorgan Shifts Scores of Workers to Mortgages to Handle Boom
Bloomberg, Feb. 28, 2020–Michelle F. DavisJPMorgan Chase is shifting workers to handle an expected surge in demand for home loans as the American housing market looks forward to its strongest …
Found a House, But the Timing Isn’t Right? Think Sublet
UExpress, Feb. 28, 2020–Lew SichelmanFor renters looking to own, finding that dream home can create complications if they’re still under a lease. Subletting could be an ideal option.https://www.uexpress.com/housing-scene/2020/2/28/found-a-house-but-the-timing
Freedom Mortgage to Close San Dimas Office, Laying Off 171 Workers
Press-Enterprise (Calif.), Feb. 27, 2020–Jack KatzanekFreedom Mortgage Corp. will stop using California workers to service its mortgages, closing its San Dimas call center and cutting 171 jobs.https://www.pe.com/2020/02/27/freedom-mortgage-to-close-san-dimas-office-laying-off-171-workers/
The Massachusetts Supreme Judicial Court Considers the Effect of State-Mandated Default Notice on the Validity of Non-Judicial Disclosures
National Law Review, Feb. 27, 2020–Andrew Glass et alK&L Gates LLP prepared an amicus brief on behalf of the American Bankers Association, the Mortgage Bankers Association, and other national and …