Wall Street Journal, Feb. 24, 2021–Paul Kiernan (subscription)The Federal Reserve said Wednesday that an “operational error” disrupted services in several of its business lines, including the electronic settlement system used …
Category: Top National News
Credit Unions Kept Pace With Mortgages in 2020
Credit Union Times, Feb. 24, 2021–Jim DuPlessisData released Tuesday by the FDIC shows the economic effects of the pandemic were similar for banks and credit unions: big increases in savings, …
Biden Administration May Undo Certain Trump-Era Mortgage Rules
CNBC, Feb. 24, 2021–Greg IacuriSome groups believe the Trump-era rules should remain in place. They will help banks and other lenders innovate and extend more mortgages to underserved groups, such …
How to Convince a NIMBY to Build More Housing
Vox, Feb. 24, 2021–Jerusalem DemsasConvincing Americans to build more housing is the only way to begin solving the national housing crisis. A new Data for Progress/Vox poll suggests one way …
Housing Market Concerns Begin to Emerge
CNN, Feb. 24, 2021–Paul La MonicaThe housing market is still red hot. But there are growing concerns about how much longer this strength can last.https://www.cnn.com/2021/02/24/investing/home-depot-lowes-earnings-housing/index.html
Weekly Mortgage Application Volume Drops 11% as Rates Spike and Texas Power Outages Hurt Demand
CNBC, Feb. 24, 2021–Diana OlickHigher mortgage rates and a winter weather disaster combined to weaken mortgage demand last week.Total mortgage application volume fell 11.4% compared with the previous week, according …
Rocket Mortgage Receives Tax Subsidy, Will Hire in Cleveland
HousingWire, Feb. 23, 2021–Tim GlazeRocket Mortgage will receive a tax subsidy worth up to $9.6 million to add hundreds of full-time jobs to Cleveland.https://www.housingwire.com/articles/rocket-mortgage-receives-tax-subsidy-will-hire-in-cleveland/
Hot Housing Market Fuels Takeover Battle for CoreLogic
Wall Street Journal, Feb. 24, 2021–Peter Grant (subscription)CoreLogic Inc., once a sleepy data firm, is the focus of a takeover battle as the hot housing market drives up the value …
Here Is Why the Housing Market Is Booming–Despite a Global Pandemic
ABA Banking Journal–Hugo DanteDisruption was the theme of 2020. The universal COVID-19 disruption dramatically affected global and domestic economic growth. The housing market was no exception at the start of …
More Housing Data Have Been Released During the Pandemic. Here’s How Policymakers Can Best Use It
Urban Institute, Feb. 23, 2021–Daniel Pang, Jung Hyun ChoiWith the sudden and widespread take-up of mortgage forbearance (PDF) in response to the COVID-19 pandemic, new data were needed to understand …