HousingWire, Jan. 31, 2020–Julian HebronWe say fintech in housing and banking like those in Hollywood say Kimye. But unlike the shorthand for power-couple Kim Kardashian and Kanye West, fintech is …
Category: Top National News
FHFA Proposes Agency Seller/Servicer Requirement Updates
National Mortgage Professional, Jan. 31, 2020–Phil HallThe Federal Housing Finance Agency is proposing to update the minimum financial eligibility requirements for Fannie Mae and Freddie Mac seller/servicers.https://nationalmortgageprofessional.com/news/73680/fhfa-proposes-agency-sellerservicer-requirement-updates
U.S. Consumer Spending, Wage Gains Eased in Late 2019
Wall Street Journal, Jan. 31, 2020–Amar Omeokwe, Sarah Chaney (subscription)U.S. economy is returning to a more moderate pace of growth. Personal-consumption expenditures, or household spending, rose a seasonally adjusted 0.3% …
9 Million Homeowners Could Save Big Money on a Mortgage Refinance as Rates Hit 3-Year Low
CNBC, Jan. 31, 2020–Diana OlickAbout 9.4 million borrowers could save an average $272 per month if they were to refinance to a lower rate, according to calculations by Black Knight.https://www.cnbc.com/2020/01/31/more-than-9-million-homeowners-could-save-big-money-on-a-refinance.html
CFPB’s Hiring of Former DOJ Official Could Raise Ire of Capitol Hill
National Mortgage News, Jan. 30, 2020–Kate Berry (subscription)The Consumer Financial Protection Bureau on Thursday hired Thomas Ward as enforcement chief, an appointment likely to draw attention from House Democrats, who …
FHFA Realigns Management Structure
National Mortgage Professional, Jan. 30, 2020–Phil HallThe Federal Housing Finance Agency announced a realignment of its structure, with the creation of new units and executive personnel changes designed to prepare …
Head of JPMorgan’s Mortgage Banking Business Leaves Firm
Bloomberg, Jan. 30, 2020–Michelle DavisJPMorgan Chase & Co.’s Mike Weinbach, CEO of its home lending business, is departing after 16 years.https://www.bloomberg.com/news/articles/2020-01-30/jpmorgan-s-mortgage-banking-chief-mike-weinbach-leaves-firm
Fed Issues Final Rule Clarifying Standards for Bank Investors
American Banker, Jan. 30, 2020–Hannah Lang (subscription)The Federal Reserve voted Thursday to finalize a new bank control framework for determining the circumstances in which one company controls another.https://www.americanbanker.com/news/fed-issues-final-rule-clarifying-standards-for-bank-investors
Homeownership Rate Rises to 6-Year High
HousingWire, Jan. 30, 2020–Kathleen HowleyThe U.S. homeownership rate rose in the fourth quarter to the highest level in six years as low mortgage financing costs helped more people to buy …
California Housing Crisis Bill Fails, But it Still Has a Slim Chance
Tribune News Service, Jan. 30, 2020–A high-profile proposal to address California’s housing crisis by compelling cities to build more homes failed to pass the Senate on Wednesday, but lawmakers left …