National Mortgage Professional, Oct. 19, 2020–Navi PersaudGoogle’s newly launched Lending DocAI is the company’s first dedicated mortgage industry tool. The tool has been developed to help mortgage lenders more efficiently …
Category: Top National News
Household Access to Banks Improved But Could Be Driven Lower by Covid-19, FDIC Says
Wall Street Journal, Oct. 19, 2020–Paul Kiernan (subscription)The proportion of U.S. households without access to a bank account fell in recent years but could be driven up again by the …
What Could Drive Mortgage Rates in 2021?
HousingWire, Oct. 19, 2020–Logan MohtashamiHigher or lower mortgage rates in 2021 will be about the level of economic growth, positive or negative.https://www.housingwire.com/articles/what-could-drive-mortgage-rates-in-2021/
Black Homeowners Pay $13,464 More on Their Mortgages, Study Says
Bloomberg, Oct. 19, 2020–Yalman OnaranBlack borrowers pay $13,464 more over the life of a home loan, with interest, mortgage-insurance and tax expenses higher than for their White counterparts, further hurting …
In-Person Conferences Were Key to Networking–What Now?
National Mortgage News, Oct. 19, 2020–Brad Finkelstein (subscription)here will be no cocktail parties, breakfasts, lunches and dinners at this year’s annual convention for the Mortgage Bankers Association. Instead of industry …
James A. Johnson, Executive Who Transformed Fannie Mae into Political Powerhouse, Dies at 76
Washington Post, Oct. 18, 2020–Harrison SmithJames A. Johnson, a former Democratic campaign operative who led Fannie Mae in the 1990s and transformed the mortgage giant into a political powerhouse, ushering …
Some Notaries are Saying No to RON
HousingWire, Oct. 16, 2020–Kelsey Ramirez (subscription)California has distinguished itself as the state that may never accept remote online notarization (RON). The state has no legislation permitting RON, and has even …
Coronavirus Tanked the Economy. Then Credit Scores Went Up
Wall Street Journal, Oct. 18, 2020–AnnaMaria Andriotis (subscription)“One big fear is that consumers’ credit quality could begin to sour if Congress doesn’t reach a deal on additional aid for the …
The Next Economic Crisis: Empty Retail Space
Politico, Oct. 18, 2020–Katy O’DonnellAs tenants stop paying and shrink their offices, commercial real estate is cratering. (MBA mention)https://www.politico.com/news/2020/10/18/next-economic-crisis-empty-retail-space-429994
U.S. Budget Gap Tripled to Record $3.1 Trillion in Fiscal 2020
Bloomberg, Oct. 16, 2020–Vince GolleThe U.S. budget shortfall more than tripled to $3.1 trillion in the government’s fiscal year ended in September, swelling the national debt to exceed the economy’s …