MReport, April 29, 2021–Eric PeckMortgage applications slid slightly this week, dropping 2.5% over the previous week as found by the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.https://themreport.com/featured/04-28-2021/sub-3-rates-a-non-factor-on-apps
Category: Top National News
CFPB Takes Action Against Mr. Cooper For Unauthorized Withdrawals
National Mortgage Professional, Apr. 28, 2021–Navi PersaudThe Consumer Financial Protection Bureau’s acting director, Dave Uejio, issued a statement in response to apparent unauthorized withdrawals made by a mortgage servicer, Mr. …
More Homebuyers Are Looking For Vibrant And Connected Communities
National Mortgage Professional, Apr. 28, 2021–Navi PersaudWhen it comes to purchasing a home, 70% of prospective buyers said they are looking for vibrant and connected communities, according to Bank of …
Veritex Agrees to Acquire Minority Stake in Thrive Mortgage
American Banker, Apr. 28, 2021–Paul Davis (subscription)The $9.2 billion-asset Veritex said in a press release Tuesday that it will pay $53.9 million in cash for a 49% stake in Thrive, …
The Radical Way Cities Are Tackling Affordable Housing
Fast Company magazine, April 28, 2021–Nate BergCities across the country are buying up buildings as a way to increase affordable housing stock and take more control of the market.https://www.fastcompany.com/90618596/the-radical-way-cities-are-tackling-affordable-housing
Mortgage Rates Fall to a Two-Month Low, But Weekly Demand Still Drops
CNBC, Apr. 28, 2021–Diana OlickLower mortgage rates are not prompting homeowners or potential homebuyers to contact their lenders, as other obstacles stand in their way. Total mortgage application volume fell …
MBA Creates Servicer Notifications for Libor’s Discontinuation
National Mortgage News, April 27, 2021–Brad Finkelstein (Free content)The Mortgage Bankers Association has published two templates for servicers to use for borrower communications regarding the end of Libor and its …
The Fed is Standing Aside as House Prices Rip Higher–But Here’s What Could Get in the Way
MarketWatch, April 28, 2021–Steve GoldsteinLewis Alexander, U.S. chief economist at Nomura, said it will be interesting to see how housing demand evolves in coming months as more people are vaccinated. …
White House Aware of Issues over Investment Properties
HousingWire, Apr. 27, 2021–James KleimannThe federal government is well aware that mortgage lenders and industry stakeholders are frustrated by the 7% cap on second homes and investment properties that was …
Saving for Fraud, Biometrics are the Future of Mortgage
HousingWire, Apr. 27, 2021–John LevonickBetter, faster, cheaper has long been the promise of technology in the mortgage industry. Some may argue whether today’s technology is that much better than the …