The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
Category: News and Trends
MBA Launches COVID-19 Members-Only Online Network
The Mortgage Bankers Association launched a new members-only online network, MBA’s COVID-19 Residential Policy Community.
Mark P. Dangelo: Are Bankers Necessary?
In an age of innovation and rising artificial intelligence, are major functions facing commoditization, disintermediation, or automation as synthetic intelligence increases? What will remain after data science advancements improve the efficacy of automation, as consumers increasingly move into a fully digital delivery model?
House Vote Scheduled Today on $2 Trillion Stimulus Bill; What it Means for MBA Members
The House is expected to vote today on a massive $2 trillion stimulus bill aimed at injecting a much-needed boost to a U.S. economy that has been staggered by the coronavirus pandemic.
CFPB Relaxes Information Collection, Reporting During Pandemic
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
MBA, Trade Groups Ask DHS to Declare Housing ‘Essential Infrastructure Business’
The Mortgage Bankers Association joined more than 90 industry trade groups in a letter to the Department of Homeland Security, urging DHS to designate construction of single-family and multifamily housing as an “Essential Infrastructure Business.”
For 3.3 Million Americans, Coronavirus Economy Just Got Real
The Labor Department on Thursday said unemployment claims skyrocketed to 3.3 million—the first real indicator of just how potentially devastating the economic effects of the coronavirus can be at the personal and national levels.
GDP Report Positive, BUT…
Real gross domestic product increased at an annual rate of 2.1 percent in the fourth quarter, according to the “third” (final) estimate by the Bureau of Economic Analysis.
Commercial/Multifamily Briefs
Harvard University’s Joint Center for Housing Studies postponed its annual State of the Nation’s Housing report due to the coronavirus pandemic.
Two Months Without Pay Pushes Many Workers to Spend 40% of Income on Rent
Zillow, Seattle, said renters working in food service and retail could spend 40 percent of their annual income on housing if they cannot work for two months–a nearly 6 percentage point increase from their current rent burden.