MortgageOrb, Mar. 27, 2023–Erin O’ConnorThe Bank of America Institute has released an analysis which examines the increase in housing costs across the United States. BofA internal data shows that median …
Category: Top National News
Judge OKs Amended Lawsuit Claiming Predatory Lending By Wells Fargo
National Mortgage Professional, Mar. 27, 2023–David KrechevskyJudge Michael L. Brown of the U.S. District Court for the Northern District of Georgia, Atlanta Division, had previously dismissed the case but allowed …
A Tale of Two Housing Markets: Prices Fall in the West While the East Booms
Wall Street Journal, Mar. 27, 2023–Nicole Friedman (subscription)The United States is a country of two housing markets. In one, home prices are falling from a year ago. In the other, …
HECM Lending Has Its Best Showing Since 2009
Inside Mortgage Finance, Mar. 27, 2023–Monica HoganResidential lenders funded $29.7 billion of FHA-backed home-equity conversion mortgages in 2022, a year-over-year improvement of 24.6%, according to a new analysis from Inside …
Biden Asked to Exempt Housing Programs From Buy America Rule
National Mortgage News, March 27, 2023–Brad Finkelstein (subscription)A group of affordable housing advocates are calling on the Biden Administration to specify that the Build America, Buy America Act does not …
Work-From-Home Era Ends for Millions of Americans
Wall Street Journal, Mar. 25, 2023–Gwynn Guilford (subscription)Some 72.5% of business establishments said their employees teleworked rarely or not at all last year, according to a Labor Department report released …
First Citizens to Acquire Silicon Valley Bank
New York Times, Mar. 27, 2023–Lauren HirschThe Federal Deposit Insurance Corporation, which announced the deal late Sunday, had been looking for a buyer since seizing control of the bank.https://www.nytimes.com/2023/03/27/business/silicon-valley-bank-first-citizens.html?
Work From Home Endures, Defying Pushback From Bosses Like Dimon
Bloomberg, Mar. 25, 2023–Alexandre Tanzi, Matthew BoyleThe shift to remote work is gaining momentum in some of America’s largest metro areas, despite increasing pressure from corporate chiefs for employees to …
Ocwen Petitions for Dismissal of HAMP Lawsuit in Appeals Court
National Mortgage News, Mar. 24, 2023–Bonnie Sinnock (subscription)Ocwen Financial filed a petition for writ of mandamus in the 5th U.S. Circuit Court of Appeals to dismiss a case involving representations …
Bank Failures Breath New Life into Executive Compensation Rule
American Banker, Mar. 24, 2023–Claire Williams (subscription)President Biden urged Congress last week to enact tougher punishments for executives of failed banks, but achieving legislative consensus among congressional conservatives and liberals …