The Consumer Financial Protection Bureau yesterday released a policy statement clarifying responsibilities of credit reporting companies and furnishers during the COVID-19 pandemic.
Category: News and Trends
Mortgage Action Alliance ‘Call to Action’ Targets States’ ‘Essential Services’ Designation
The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action” yesterday, urging its 23,000-plus members to urge state governors and officials to include government agencies and offices that support housing and mortgage transactions as “essential services” during the coronavirus pandemic.
MBA Offers HUD Recommendations on Improving FHA Condo Program
The Mortgage Bankers Association submitted comments to HUD this week, offering recommendations to improve the FHA Condominium Program.
MBA Creates Print, Video PSAs for Members to Communicate COVID-19 Resources
To help inform consumers about the appropriate time to contact their mortgage companies, the Mortgage Bankers Association has created a 30-second video and corresponding ads for members’ use.
Mortgage Applications Back Up in MBA Weekly Survey
Mortgage application activity entered March like a lamb, but, thanks to falling interest rates, came out like a lion.
MBA 2020 Tech All-Star Jane Mason: Bringing Clarity to Chaos
On the website of Clarifire, a Software-as-a-Service company specializing in workflow automation in multiple industries, particularly mortgage servicing, the company declares its vision: “To transform chaos into clarity.”
Joe Langner: HECMs Shield Seniors from Investment Sequence Risk in Turbulent Times
Seniors are being especially hard hit by the health and economic impacts of the COVID-19 pandemic. However, homeowners are not entirely at the mercy of a fickle financial market. There are tools available to help retirees limit their sequence risk. One of the more effective being the Home Equity Conversion Mortgage.
MBA 2020 Tech All-Star Julie Felts: Driving Force Behind Amrock’s eClosing Domination
Like many homebuyers, Julie Felts and her husband did not have a positive experience at the closing table. With mounds of paperwork and a seller in tears sitting just across from them, the close was nightmarishly long, inconvenient, stressful and emotionally draining. “I just remember thinking there should be a better way to do this; we shouldn’t have to be in the same place at the same time,” she says.
MBA 2020 Tech All-Star Howard Botts: Meet the Wizard of ‘Weather Forensics’
Howard Botts could be in Los Angeles and tell you within 15 minutes of a tornado touching down in the Midwest, if any, properties sustained damage and the severity of the damage. He’s not psychic; he’s scientific.
March Consumer Confidence Takes Sharp Decline
The Conference Board, New York, reported its Consumer Confidence Index declined sharply in March, as consumers’ short-term outlook all but collapsed.