National Mortgage Professional, Sept. 24, 2020–Navi PersaudArcus Lending and Uneeq joined forces to introduce Rachel, the mortgage industry’s first digital human, according to a press release. The Rachel is powered …
Category: Top National News
Mortgage Holders Falling through Gaps in Safety Net
Houston Chronicle, Sept. 24, 2020–R.A. SchuetzMore than 1 million homeowners are at least 30 days behind on their mortgage payments despite aid from the CARES Act, a sign that the …
Mortgage Rates Rise Amid Positive Housing News
Washington Post, Sept. 24, 2020–Michele LernerMortgage rates rose slightly this week amid positive housing market news and increased demand for home loans. (MBA mention)https://www.washingtonpost.com/business/2020/09/24/mortgage-rates-rise-amid-positive-housing-news/
Pandemic Accelerates Changes to Work Culture
The Hill, Sept. 24, 2020–Niv Elis“What is bad news for the retail sector is good news for the industrial sector, and you might even see real estate being repurposed from …
Truist Sells Legacy SunTrust CRE Loan-Servicing Platform
National Mortgage News, Sept. 23, 2020–Glen Fest (subscription)Truist Financial sold one of its commercial real estate loan servicing and asset-management divisions, shedding a legacy SunTrust Banks platofrm that managed $34 …
U.S. Economy Continues Steady Recovery in September, Business Surveys Show
Wall Street Journal, Sept. 23, 2020–David Harrison, Paul Hannon (subscription)The U.S. economy in September continued its steady recovery from the sharp declines in the second quarter as demand and output …
Michigan State Walk-On Becomes Billionaire by Making Mortgages
Bloomberg, Sept. 23, 2020–By Shahien Nasiripour, Crystal Tse, Tom MaloneyMat Ishbia, a former college basketball player who’s now the chief executive officer of United Wholesale Mortgage, is set to become …
CRE Concerns Intensify as Stimulus Programs Expire
American Banker, Sept. 23, 2020–Jim Dobbs (subscription)Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, …
Wells Fargo CEO Sorry for ‘Insensitive Comment’ on Diversity
Reuters, Sept. 23, 2020–Jessica DiNapoli, Anirban SenWells Fargo & Co. Chief Executive Officer Charles Scharf has apologized for making insensitive remarks around race and diversity, seeking to quell a row …
Sterling in N.Y. Sheds Non-Performing Loans
National Mortgage News, Sept. 22, 2020–Jim Dobbs (subscription)The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on …