Wall Street Journal, May 9, 2021–Orla McCaffrey (subscription)The anticipated decline in mortgage volume is setting off price wars across the industry. That is driving down profit margins and spooking the …
Category: Top National News
Confusion over CFPB Underwriting Rule Persists
American Banker, May 7, 2021–Kate Berry, Hannah Lang (subscription)Fannie and Freddie’s regulator says the companies must comply with the new Qualified Mortgage standard by the summer, while the Consumer Financial …
Charmaine Brown, Mortgage Bankers Association
Scotsman Guide, May 2021–Jim DavisLate last year, the Mortgage Bankers Association created a director of diversity and inclusion post to help its members and the entirety of the real estate …
Regulatory Costs Add Nearly $94K to New Home Prices
HousingWire, May 7, 2021–Tim GlazeA recent study by the National Association of Home Builders found that regulations imposed by all levels of government on new homes account for $93,870, or …
Nonbank Mortgage Jobs Increase as Broader Employment Growth Weakens
National Mortgage News, May 7, 2021–Bonnie Sinnock (subscription)Jobs at nondepository lenders and brokers are increasing, but at a slower rate than they have over the past several months.https://www.nationalmortgagenews.com/news/nonbank-mortgage-jobs-increase-as-broader-employment-growth-weakens
North Suburban Man’s COVID Mortgage Forbearance Nightmare
Chicago Sun-Times, May 7, 2021–Stephanie ZimmermanThe plans are being extended for many borrowers in hopes the economy improves. But Gregg Pupecki got a big shock when his loan servicer demanded …
Covid Forced More Borrowers to be Late on their Mortgages than at Any Time Since the Great Recession, CFPB Says
Washington Post, May 7, 2021–Michelle SingletaryThe nation’s consumer watchdog agency says more borrowers are behind on their mortgages than at any time since the Great Recession. And the situation is …
Schrader: Quit Celebrating Colorado’s Rising Home Values. This Inflation Isn’t Good For Anyone
The Denver Post, May 7, 2021–Megan SchraderColorado’s housing market is insane. While most homeowners watch the feeding frenzy with a sense of security, the property tax assessments that started arriving …
How to Win A Bidding War
UExpress, May 7, 2021–Lew SichelmanThe competition factor certainly isn’t going anywhere. According to Redfin, more than half of all houses on the market drew competing offers in January. In one …
Do Wells Fargo, U.S. Bancorp Investigations Signal a New Era at CFPB?
American Banker, May 7, 2021–Kevin Wack, Alissa Kline (subscription)The banks disclosed this week that they are under scrutiny for conduct that may have harmed consumers. The timing raises questions about …