Washington Post, Dec. 8, 2020–Seung Min Kim, Matt ViserPresident-elect Joe Biden plans to nominate Rep. Marcia L. Fudge (D-Ohio) to lead the Department of Housing and Urban Development, sources said. …
Category: Top National News
Biden to Pick Rep. Marcia Fudge of Ohio for HUD Secretary
Washington Post, Dec. 8, 2020–Seung Min Kim, Matt ViserPresident-elect Joe Biden plans to nominate Rep. Marcia L. Fudge (D-Ohio) to lead the Department of Housing and Urban Development, sources said. …
Mortgage Servicers are Losing 80% of Borrowers–Black Knight
Mortgage Professional America, Dec. 8, 2020–Candyd MendozaQ3 was a banner quarter for origination volumes. But mortgage servicers have lost the business of refinancing more than 80% of homeowners as they …
Digital Lender SoFi Contemplating IPO
HousingWire, Dec. 8, 2020–James KleimannThe lender was last valued at $4.8 billion after a funding round last year. While it is best known for refinancing student loans, the startup also …
Companies Face New Pressures to Diversify Boards. It’s Sensitive
Wall Street Journal, Dec. 7, 2020–Chip Cutter (subscription)One of the biggest board recruiting rushes in U.S. corporate history is set to commence, and it is likely to be a delicate …
Mortgage Credit Availability Expanded in November
National Mortgage News, Dec. 8, 2020–Brad Finkelstein (subscription)Lenders loosened their mortgage credit standards for the second month in a row in November because of strong housing demand and an improved …
Million-Dollar Homebuying Soars With U.S. Rich on Shopping Binge
Bloomberg, Dec. 8, 2020–Prashant GopalDemand for million-dollar homes is growing faster than any other price tier in the pandemic-driven U.S. housing boom. In October, applications for mortgages larger than $766,000 …
Mortgage Bankers Association Adds McSally, Riggleman Aide
Politico, Dec. 8, 2020–Caitln OpryskoThe Mortgage Bankers Association has hired Borden Hoskins as an associate vice president for legislative affairs. Hoskins joins the industry group after serving as a legislative …
As Pandemic Lifelines Expire, Americans in Housing Free Fall
Reuters, Dec. 8, 2020–Michelle ConlinOvernight, an unprecedented bill of $70 billion in unpaid back rent and utilities will come due, according to estimates by Moody’s Analytics Chief Economist Mark Zandi. …
Mr. Cooper, U.S. Bank & PNC Settle Claims Regarding Bankrupt Borrowers
National Mortgage News, Dec. 7, 2020–Brad Finkelstein (subscription)On the same day that Mr. Cooper announced it settled allegations over its servicing practices, it and two other lenders reached a separate …