HousingWire, Oct. 16, 2020–James KleimannAccording to an amended S-1 submitted to the Securities and Exchanges Commission on Thursday, Guild, through parent firm Guild Holdings, is expected to price its initial …
Category: Top National News
4 Trends in Mortgage Fraud to Watch Out For
National Mortgage News, Oct. 16, 2020–Bonnie Sinnock (subscription)Mortgage companies contended with an average of 1,316 fraud attempts per month in 2020, up from 1,280 in the previous year, according to …
Treasury Department Encouraged Banks to Prioritize Existing Customers for PPP Loans, House Panel Says
Wall Street Journal, Oct. 16, 2020–Amara Omeokwe, Ryan Tracy (subscription)The prioritizing put underserved businesses, including those owned by women and minorities, at a disadvantage when applying for a $670 billion …
How Much Further Could Record Low Mortgage Rates Fall?
Forbes, Oct. 16, 2020–Natalie CampisiMost experts predict that rates will stay low into 2021, mainly due to the effects of the coronavirus on the economy. Without an approved vaccine, the …
Millions Still Missing Rent, Mortgage Payments
Credit Union Times, Oct. 16, 2020–Jim DuPlessisOn Friday, the Mortgage Bankers Association (MBA) released a report that found 8.5% of renters, or 2.8 million households, missed, delayed, or made a …
Shoppers Came Back To Department Stores In September, Lifting Retail Sales
NPR, Oct. 16, 2020–Alina SelyukhShoppers bought more clothes and cars and even returned to beleaguered department stores in September. This helped lift U.S. retail spending by a stronger-than-expected 1.9% compared …
Serious Mortgage Delinquencies Are Up, Data Shows
The Ascent, Oct. 16, 2020–Maurie BackmanMillions of Americans have lost their jobs or struggled with income loss since the start of the coronavirus pandemic, so it’s not shocking that as …
Mortgage Lender IPOs Are Booming. Which Are the Best Buys?
Wall Street Journal, Oct. 16, 2020–Telis Demos (subscription)Home mortgage lending could hit record levels this year, and some big private lenders are eager to tap the public markets. The first …
M&T Bank Fined for Flood Insurance Violations
American Banker, Oct. 15, 2020–Jon Prior (subscription)The Buffalo, N.Y., bank will pay a $546,000 penalty to the Federal Reserve, which will be passed on to the National Flood Insurance Program …
Ocwen Settles Final State Action over Its Servicing Practices
National Mortgage News, Oct. 15, 2020–Brad Finkelstein (subscription)The agreement with Florida ends the saga that began in April 2017, when several states sued the company. However, the CFPB’s case filed …