BAI Banking Strategies, Dec. 2, 2020–Karen Epper HoffmanSteve O’Connor, senior vice president of affordable housing initiatives for the Mortgage Bankers Association, says lenders are more focused on the disparities in …
Category: Top National News
Mortgage Demand from Homebuyers Spikes 28%, and the Average Loan Amount Sets a Record High
CNBC, Dec. 2, 2020–Diana OlickMortgage applications to purchase a home jumped 9% last week from the previous week and were 28% higher annually, according to the Mortgage Bankers Association.https://www.cnbc.com/2020/12/02/mortgage-demand-from-homebuyers-spikes-28percent.html
A New Setback for Big Cities as Return to the Office Fades
Wall Street Journal, Dec. 1, 2020–Peter Grant (subscription)U.S. employees started heading back to the office in greater numbers after Labor Day but that pace is stalling now, delivering another blow …
Online Notarizations Usher in Era of Trusted Transactions
HousingWire, Dec. 1, 2020–Nicole Booth, Susan Milazzo, Jeanne RadsickA simple, ancient practice, one that often goes unnoticed despite the critical role it plays in the lives of millions of Americans, …
In Many Cities, Climate Change Will Flood Affordable Housing
Bloomberg, Dec. 1, 2020-Patrick SissonRising seas risk inundating housing markets in coastal cities that lack options for low-income residents, says a new study.https://www.bloomberg.com/news/articles/2020-12-01/how-climate-change-is-targeting-affordable-housing
Rare Mnuchin-Powell Spat Takes Center Stage at COVID-19 Hearing
The Hill, Dec. 1, 2020–Sylvan LaneDemocrats were eager to exploit the fallout from Mnuchin’s recent decision to close $454 billion in Fed emergency lending facilities set up through the $2.2 …
Banks Delay Office Reopenings Until Well Into 2021
American Banker, Dec. 1, 2020–Allissa Kline (subscription)With COVID-19 cases soaring, a growing number of banks, including JPMorgan Chase, U.S. Bancorp and Capital One, have pushed back target dates for bringing …
Biden Urges Congress to Pass Coronavirus Package, Promises More Action
Reuters, Dec. 1, 2020–Jarrett Renshaw, Joseph AxPresident-elect Joe Biden on Tuesday urged lawmakers to pass a coronavirus aid package that has been stalled in Congress for months, and promised more …
Suburbs See Greatest Gain in Single-Family Construction in Q3
HousingWire, Dec. 1, 2020–Julia FalconThe National Association of Home Builders‘ Home Building Geography Index found that during the third quarter, the exodus from big cities to the suburbs and less …
Purchase Mortgage Defect Risk Rises Again Amid a Hot Housing Market
National Mortgage News, Dec. 1, 2020–Brad Finkelstein (subscription)Tough competition for home listings makes consumers more likely to misrepresent themselves on loan applications, says First American.https://www.nationalmortgagenews.com/news/mortgage-defect-risk-rises-amid-hot-housing-market