American Banker, Feb. 6, 2020–Kate Berry (subscription)At yet another tense hearing Thursday of the House Financial Services Committee focused on the CFPB, Director Kathy Kraninger butted heads with several lawmakers …
Category: Top National News
Three-Year Low in Rates Maes 11.3 Million Mortgages Refi Eligible
HousingWire, Feb. 6, 2020–Kathleen HowleyA three-year low in the average U.S. rate for a 30-year fixed mortgage pushed the number of “refi eligible” borrowers to 11.3 million, the second-highest on …
Credit Suisse CEO Tidjane Thiam Resigns Amid Spying Scandal
Wall Street Journal, Feb. 7, 2020–Margot Patrick (subscription)Credit Suisse Group AG Chief Executive Tidjane Thiam has left the bank after months of pressure over a spying scandal, despite public support …
Coronavirus May Drive Mortgage Rates to New Lows
Orange County Register, Feb. 6, 2020–Jeff LazersonNo-cost refinancing with an improved mortgage is the ticket right now because rates may be trending lower for quite a while. You might be …
Minority Homeownership Rate Hits 8-Year High
Scotsman Guide, Feb. 5, 2020–Arnie AurellanoData from the U.S. Census Bureau’s quarterly Residential Vacancies and Homeownership Survey revealed that the nation’s minority homeownership rate increased to 48.6% in fourth-quarter 2019.https://www.scotsmanguide.com/browse/content/minority-homeownership-rate-highest-since-2011?utm_source=The%20Originator_02%2F06%2F2020&utm_medium=email&utm_campaign=The%20Originator
Lenders Continue to Shed Higher Risk Programs
Mortgage News Daily, Feb. 6, 2020–Jann SwansonAvailability of mortgage credit declined slightly last month. The Mortgage Bankers Association said its Mortgage Credit Availability Index dipped 0.2 percent to 181.9 in …
De Blasio to Announce Housing Plan Revamp, New Push for Tenant Protections
Politico, Feb. 6, 2020–Janaki ChadhaonMayor Bill de Blasio will announce a reworking of his ambitious housing program on Thursday that aims to generate more apartments for the lowest-income New Yorkers, …
Americans are Equity-Rich as Home Values Rise
HousingWire, Feb. 6, 2020–Julia FalconAlmost 15 million homes in the U.S. were equity-rich in the fourth quarter, meaning their mortgages were 50% or less of their estimated market value, according …
Fixed Mortgage Rates Hit Three-Year Lows But May be Headed Higher Soon
Washington Post, Feb. 6, 2020–Kathy OrtonFixed mortgage rates sank to their lowest level in three years on fears about the economic impact of the coronavirus. (MBA mention)https://www.washingtonpost.com/business/2020/02/06/fixed-mortgage-rates-hit-three-year-lows-may-be-headed-higher-soon/
Why House Democrats are at Odds over Rate Cap Bill
American Banker, Feb. 5, 2020–Neil Haggerty (subscription)An intraparty rift went public Wednesday over legislation that would impose a 36% rate limit on all consumer loans. Critics are concerned it would …