American Banker, Feb. 26, 2020–Neil Haggerty (subscription)At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has “got to be pushing back” against the Current Expected Credit Losses standard, …
Category: Top National News
Too White, Too Male: Fed Takes on Diversity One Bank Board Member at a Time
Reuters, Feb. 27, 2020–Ann Saphir, Lindsay DunsmuirThe Federal Reserve, long criticized for being too white and male, crossed a substantial milestone last year: for the first time in its 107-year …
Will Servicers Be Able to Better Control Costs in the Next Downturn?
National Mortgage News, Feb. 26, 2020–Bonnie Sinnock (subscription)There’s been a “decent change” in the cost to service nonperforming loans, Marina Walsh, vice president of industry analysis at the Mortgage Bankers …
More People Want to Purchase a Home this Year, But Will they Be Able to?
HousingWire, Feb. 26, 2020–Julia FalconMortgage rates are low, applications are up and an increase of Americans say they plan on purchasing a home. In fact, 84% of Americans said buying …
End of a New Residential Subservicing Agreement to Benefit Ocwen
National Mortgage News, Feb. 26, 2020–Brad FinkelsteinThe cancellation by New Residential of a money-losing subservicing agreement should benefit Ocwen’s financial results going forward, the company said.https://www.nationalmortgagenews.com/news/end-of-a-new-residential-subservicing-agreement-to-benefit-ocwen
California Median Home Price Sinks 6.5 Percent
National Mortgage Professional, Feb. 26, 2020–Phil HallThe median price for a California residential property fell by 6.5 percent from December’s revised $614,880 to $575,160 in January, according to a new …
Real Estate and Mortgage Firms Among Most Ethical in the World
Mortgage Professional America, Feb. 26, 2020–Steve RandallSeveral big names from the mortgage lending and real estate industries have been named among the World’s Most Ethical Companies for 2020.https://www.mpamag.com/market-update/real-estate-and-mortgage-firms-among-most-ethical-in-the-world-214970.aspx
Weekly Mortgage Applications Rise 1.5% Just Before the Big Rate Drop
CNBC, Feb. 26, 2020–Diana OlickTotal mortgage application volume rose 1.5% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index, which included the Presidents Day …
A Conversation With Freddie Mac’s Debby Jenkins
Multi-Housing News, Feb. 26, 2020–Therese FitzgeraldDebby Jenkins, executive vice president & head of Multifamily for Freddie Mac, recently accepted the 2020 Commercial/Multifamily Diversity and Inclusion Leadership Award by the Mortgage …
Mortgage Rates are Plunging With the Financial Markets, But Why Aren’t They Even Lower?
Bankrate.com, Feb. 26, 2020–Natalie CampisiAmid a wave of selling in the stock market driven by coronavirus concerns, the 10-year Treasury note, a key bellwether for mortgage rates, plunged to a …