National Mortgage News, Dec. 2, 2020–Brad Finkelstein (subscription)Originations from all sources, including commercial and reverse mortgages, total $9.2 billion.https://www.nationalmortgagenews.com/news/finance-of-america-q3-2020-earnings-analyzed
Category: Top National News
Senate Moves to Confirm Trump Fed Nominee Waller, But Shelton’s Candidacy Hits Likely Dead End
Wall Street Journal, Dec. 2, 2020–Nick Timiraos (subscription)Senate Republicans’ bid to confirm Judy Shelton as a Federal Reserve governor appears unlikely to succeed now that a new Democratic senator has …
Mortgage Refinancing Wave is Not Letting Up, to Investors’ Chagrin
Bloomberg, Dec. 2, 2020–Christopher MaloneyMortgage investors will carry unpleasant memories of this year’s surging prepayment speeds, yet as the calendar flips there appears little chance of near-term relief. While this …
Lenders Start to Place More Emphasis on Inclusion
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 …
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 …