The longest economic expansion in U.S. history has likely come to an end amid the unprecedented impacts of COVID-19, according to the Fannie Mae Economic and Strategic Research Group.
Category: News and Trends
Another 5.2 Million Fill for Unemployment; 4-Week Total Rises to 22 Million
The Labor Department reported a seasonally adjusted 5.245 million people filed initial unemployment claims for the week of ending April 11, marking the fourth consecutive week of multi-million claims and bringing total claims filed in the past four weeks to more than 22 million.
‘Coronavirus Effect’ Takes Aim at March Housing Starts
The economic effects of the coronavirus pandemic showed up in March housings starts, which fell by more than 22 percent, HUD and the Census Bureau reported yesterday.
Harry Gardner of Docutech on Remote Online Notarization Adoption
Harry Gardner is Executive Vice President of eStrategies with Docutech Corp. While at the Mortgage Bankers Association he helped lead and grow the efforts of MISMO and the eMortgage Workgroup for more eight years.
CFPB Issues Final Rule Raising HMDA Data Reporting Thresholds
The Consumer Financial Protection Bureau yesterday issued a final rule raising loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act.
OCC Issues Guidance on FEMA/Flood Insurance Force-Place Requirements
The Office of the Comptroller of the Currency on Wednesday provided guidance to the Mortgage Bankers Association, addressing conflicts between a recent Federal Emergency Management Agency memo and banking agency flood insurance rules.
CFPB Issues Final Rule Raising HMDA Data Reporting Thresholds
The Consumer Financial Protection Bureau this morning issued a final rule raising loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act.
OCC Issues Guidance on FEMA/Flood Insurance Force-Place Requirements
The Office of the Comptroller of the Currency on Wednesday provided guidance to the Mortgage Bankers Association, addressing conflicts between a recent Federal Emergency Management Agency memo and banking agency flood insurance rules.
FHFA, CFPB Announce Borrower Protection Program
The Federal Housing Finance Agency and the Consumer Financial Protection Bureau announced the Borrower Protection Program, a joint initiative that enables CFPB and FHFA to share servicing information to protect borrowers during the coronavirus national emergency.
Federal Agencies Allow Member Banks to Postpone Appraisals for 120 Days
Three federal agencies this week announced a rule change allowing its member banks to postpone an appraisal on a residential or commercial property for 120 days after the loan is closed.