National Mortgage News, Sept. 18, 2020–Brad Finkelstein (subscription)Data security, while better than paper-based processes, still can be a problem, according to panelists at Digital Mortgage 2020.https://www.nationalmortgagenews.com/news/digital-closings-boomed-in-the-covid-era-but-these-pain-points-remain
Category: Top National News
Can a Digital Platform be Less Racist than a Loan Officer?
New York Times, Sept. 18, 2020–Jennifer MillerEarly indications are promising. But automated systems provide rich opportunities to perpetuate bias.https://www.nytimes.com/2020/09/18/business/digital-mortgages.html?auth=login-email&login=email
Government Mortgage Bailout Numbers Improve Slowly, But the Real Test is Ahead
CNBC, Sept. 18, 2020–Diana OlickMortgages in active forbearance programs, where borrowers delay their monthly payments for at least three months, declined by 26,000 last week or 0.7%, according to Black …
Nearly 11 Million Households Missed Mortgage or Rent Payments at Pandemic’s Outset–Study
Mortgage Professional America, Sept. 18, 2020–Ryan SmithNearly 11 million households fell behind on their mortgage or rent payments during the first three months of the COVID-19 pandemic, according to a …
Can Digital Mortgage Platforms Reduce Discrimination in Lending?
New York Times, Sept. 18, 2020–Jennifer MillerEarly indications are promising. But automated systems provide rich opportunities to perpetuate bias. (MBA mention)https://www.nytimes.com/2020/09/18/business/digital-mortgages.html
Millions Are House-Rich but Cash-Poor. Wall Street Landlords Are Ready.
Wall Street Journal, Sept. 18, 2020–Ryan Dezember (subscription)Hardships caused by the coronavirus pandemic are likely to force a lot of sales and create new renters. (MBA mention)https://www.wsj.com/articles/millions-are-house-rich-but-cash-poor-wall-street-landlords-are-ready-11600421401?
More Realty Pitchmen Face Scrutiny
UExpress, Sept. 18, 2020–Lew SichelmanAdd a former get-rich-quick-with-real-estate pitchman on the A&E cable network to the laundry list of realty gurus who have found themselves in the crosshairs of the …
SCOTUS Sets Facebook Inc. v. Duguid Oral Arguments
ACA News, Sept. 17, 2020The court will hear arguments in the case, focused on the definition of an autodialer under the TCPA, in December. (MBA mention)https://www.acainternational.org/news/scotus-sets-facebook-inc-v-duguid-oral-arguments
Fed to Pitch CRA Revamp of Its Own as Regulators Chart Different Paths
American Banker, Sept. 17, 2020–Hannah Lang (subscription)The Federal Reserve Board will discuss an advance notice of proposed rulemaking on the Community Reinvestment Act at an open meeting. The central bank …
Fed Details New Round of Big-Bank Stress Tests
Wall Street Journal, Sept. 17, 2020–Andrew Ackerman (subscription)The Federal Reserve will analyze large banks’ ability to withstand two coronavirus-related recession scenarios as part of a second round of stress tests …