UExpress, Feb. 21, 2020–Lew SichelmanThe Trump administration’s moves to change — some say “gut” — the nation’s fair housing policies may have awakened a sleeping giant. https://www.uexpress.com/housing-scene/2020/2/21/trump-moves-to-gut-fair-housing
Category: Top National News
Kraninger Wants More Money for CFPB. White House Has a Different Plan
American Banker, Feb. 20, 2020–Kate Berry (subscription)The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and …
Wells Fargo Nears About $3 Billion Deal to End Federal Probes
Bloomberg, Feb. 20, 2020–Hannah LevittThe long-anticipated settlement would mark the largest yet from a series of scandals that claimed two chief executive officers and fueled billions of dollars in operating …
House Bill Would Extend VA Loans to Co-ops
HousingWire, Feb. 20, 2020–Kathleen HowleyReps. Carolyn Maloney, D-N.Y., and Eleanor Holmes Norton, D-D.C., introduced the bill, known as Fair Access to Co-Ops for Veterans Act. It would resurrect a five-year …
Moody’s: Weaker Non-QM Underwriting Increases Default Risk
National Mortgage Professional, Feb. 20, 2020–Phil HallInvestors are facing a new threat of default risk in residential mortgage-backed securities due to weaker underwriting in non-QM mortgages, according to a new …
California Court Dismisses Lawsuit Against Zillow
HousingWire, Feb. 20, 2020–Kathleen HowleyA U.S. District Court judge on Tuesday dismissed a lawsuit against Zillow alleging damages stemming from the unauthorized access of a listing.https://www.housingwire.com/articles/california-court-dismisses-lawsuit-against-zillow/
In America’s Richest Town, $500K a Year is Now Below Average
Bloomberg, Feb. 20, 2020–Shelly Hagan, Wei Lu, Sophie AlexanderYou could easily drive through this leafy Silicon Valley suburb without realizing you were in America’s richest neighborhood. From the road, it’s …
Fed’s Clarida: ‘It’s a Good Picture’ for Economy, Watching Coronavirus Risks
Wall Street Journal, Feb. 20, 2020–Michael S. Derby (subscription)Federal Reserve Vice Chairman Richard Clarida was upbeat about the state of the U.S. economy in a television interview, and he said …
Fake Employers Help Borderline Borrowers Qualify for Mortgages
Orange County Register, Feb. 20, 2020–Jeff LazersonThe Fannie Mae fictitious California employer list started in 2018. With its January fraud alert, the list has grown to 65 companies that appear …
Here’s Why Mortgage Borrowing Just Cooled Off, Despite Low Rates
Yahoo! Finance, Feb. 20, 2020–Doug WhitemanBorrowers may be overreacting — and losing out — as mortgage rates pause after falling steadily for weeks.https://finance.yahoo.com/news/heres-why-mortgage-borrowing-just-135701621.html