National Mortgage Professional, Mar. 11, 2021–Navi PersaudA report from GOBankingRates explored how U.S. renters and homeowners fared during the COVID-19 pandemic as the one-year mark approaches. The report found that …
Category: Top National News
Cash-Out Refinancings Hit Highest Level Since Financial Crisis
Wall Street Journal, Mar. 11, 2021–Orla McCaffrey (subscription)U.S. homeowners cashed out $152.7 billion in home equity last year, a 42% increase from 2019 and the most since 2007, according to …
Omar Reintroduces Bill Seeking to Cancel Rent, Mortgage Payments During Pandemic
The Hill, Mar. 11, 2021–Celine CastronuovoUnder the bill, titled the Rent and Mortgage Cancellation Act, there would be no accumulation of debt for renters or homeowners, as well as no …
Getting a Mortgage Isn’t Getting Any Easier
Mortgage News Daily, Mar. 11, 2021–Jann SwansonAccess to mortgage credit remained unchanged in February after making modest gains over the previous four months. The Mortgage Bankers Association said its Mortgage …
Increasing Lenders’ Diversity to Impact Minority Homeownership
HousingWire, Mar. 11, 2021–Katie GalbraithThe homeownership gap between white and Black Americans is larger than in the 1960s, and both real estate and mortgage lenders are looking for solutions. Woody …
Mortgage Rates Persist in their Steady Climb
Washington Post, Mar. 11, 2021–Kathy OrtonMortgage rates continued their upward march this week, rising to their highest levels since July. According to the latest data, released Thursday by Freddie Mac, …
Mortgage Activity Dips for the Fourth Time in Five Weeks
Mortgage Professional America, March 11, 2021–Candyd MendozaDemand for refinances declined 43% from a year ago, as rising mortgage rates put a brake on the pandemic-driven refi wave. (MBA mention)https://www.mpamag.com/news/mortgage-activity-dips-for-the-fourth-time-in-five-weeks-248924.aspx
Cash-Out Refinancings Hit Highest Level Since Financial Crisis
Wall Street Journal, March 11, 2021–Orla McCaffrey (subscription)Home prices have soared during the coronavirus pandemic, prompting more borrowers to pocket cash from refis.https://www.wsj.com/articles/cash-out-refinancings-hit-highest-level-since-financial-crisis-11615458602?
Fannie Mae Tightens Standards on Investment Properties
HousingWire, March 10, 2021–James KleimannFannie Mae is tightening the underwriting criteria for second homes and investment properties, the government sponsored entity said in a letter to sellers on Wednesday.https://www.housingwire.com/articles/fannie-mae-tightens-standards-on-investment-properties/
Senate Banking Committee Approves Biden’s Picks to Head CFPB, SEC
American Banker, Mar. 10, 2021–Neil Haggerty (subscription)President Biden’s picks to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission have been approved by the Senate Banking Committee …