National Mortgage Professional, Mar. 12, 2021–Navi PersaudThe Federal Housing Administration revealed that the Home Equity Conversion Mortgage program will be dropping the London Interbank Offered Rate index for adjustable-rate HECMs. …
Category: Top National News
Mortgage Rates Are Rising. Read This Before You Refinance
Wall Street Journal, Mar. 12, 2021–Julia Carpenter (subscription)Mortgage rates are on the rise after nearly a year of record lows, providing a nudge to homeowners who want to refinance but …
Weakening Refi Demand Intensifies Lender Profit Margin Concerns
Mortgage Professional America, Mar. 12, 2021–Candyd MendozaFor the second consecutive quarter, the share of lenders expecting profit margins to decline has grown, according to a business sentiment survey released Thursday …
Unemployment Benefits. Stimulus Checks. How to Best Spend the Aid That’s on the Way
CNBC, Mar. 12, 2021–Annie NovaIncluded in the most recent stimulus package is a $10 billion pot of money for homeowners who have fallen behind on their mortgages during the pandemic. …
COVID-19 Rewrote the Rules of Shopping. What Is Next?
Wall Street Journal, March 12, 2021–Suzanne Kapner (subscription)Retailers from Macy’s Inc. to Coach are betting their mall stores will make a comeback even though many more shopping centers could still …
Homes in Poor Neighborhoods Are Taxed at Roughly Twice the Rate of Those in Rich Areas, Study Shows
Washington Post, March 12, 2021–Christopher IngrahamHomeowners in America’s poorest neighborhoods face effective property tax rates roughly double those levied on the richest ones, according to a massive new study by …
Fannie Mae’s Early Start on Limiting Certain Loans Surprises Lenders
National Mortgage News, Mar. 11, 2021–Bonnie Sinnock (subscription)Lenders knew the government-sponsored enterprises needed to cap purchases of single-family loans backed by investor properties and second homes, but didn’t necessarily think …
U.S. Households’ Net Worth Rose to Record $130.2 Trillion in Fourth Quarter
Wall Street Journal, Mar. 11, 2021–Paul Kiernan (subscription)Household net worth—the difference between assets and liabilities—ended the fourth quarter at $130.2 trillion, the Federal Reserve said Thursday. That was up 5.6% …
Lenders Urge Biden to Remove GSE Cap on ‘High-Risk’ Loans
American Banker, Mar. 11, 2021–Hannah Lang (subscription)Instead of imposing limitations on the high-risk loans Fannie and Freddie can purchase, the FHFA could have relied on its own capital framework and …
Mortgage Originators Get High Marks from Borrowers
Orange County Register, Mar. 11, 2021–Jeff LazersonSilver lining indeed when it comes to borrower satisfaction with their mortgage loan originators amid the COVID-19 pandemic. Consumers were very satisfied with their …