HousingWire, Feb. 20, 2020–Kathleen HowleyReps. Carolyn Maloney, D-N.Y., and Eleanor Holmes Norton, D-D.C., introduced the bill, known as Fair Access to Co-Ops for Veterans Act. It would resurrect a five-year …
MBA Newslinks Archive
Moody’s: Weaker Non-QM Underwriting Increases Default Risk
National Mortgage Professional, Feb. 20, 2020–Phil HallInvestors are facing a new threat of default risk in residential mortgage-backed securities due to weaker underwriting in non-QM mortgages, according to a new …
Administration Nominates Dana Wade as FHA Commissioner
The Trump Administration yesterday said it intended to nominate Dana Wade as Assistant Secretary for Housing and Federal Housing Commissioner.
California Court Dismisses Lawsuit Against Zillow
HousingWire, Feb. 20, 2020–Kathleen HowleyA U.S. District Court judge on Tuesday dismissed a lawsuit against Zillow alleging damages stemming from the unauthorized access of a listing.https://www.housingwire.com/articles/california-court-dismisses-lawsuit-against-zillow/
In America’s Richest Town, $500K a Year is Now Below Average
Bloomberg, Feb. 20, 2020–Shelly Hagan, Wei Lu, Sophie AlexanderYou could easily drive through this leafy Silicon Valley suburb without realizing you were in America’s richest neighborhood. From the road, it’s …
Fed’s Clarida: ‘It’s a Good Picture’ for Economy, Watching Coronavirus Risks
Wall Street Journal, Feb. 20, 2020–Michael S. Derby (subscription)Federal Reserve Vice Chairman Richard Clarida was upbeat about the state of the U.S. economy in a television interview, and he said …
Fake Employers Help Borderline Borrowers Qualify for Mortgages
Orange County Register, Feb. 20, 2020–Jeff LazersonThe Fannie Mae fictitious California employer list started in 2018. With its January fraud alert, the list has grown to 65 companies that appear …
Here’s Why Mortgage Borrowing Just Cooled Off, Despite Low Rates
Yahoo! Finance, Feb. 20, 2020–Doug WhitemanBorrowers may be overreacting — and losing out — as mortgage rates pause after falling steadily for weeks.https://finance.yahoo.com/news/heres-why-mortgage-borrowing-just-135701621.html
Ellie Mae: January Refis Hold Steady; Closing Rates Increase
A slight drop in interest rates in January stabilized refinance activity and improved closing rates, said Ellie Mae, Pleasanton, Calif.
HUD Report Notes ‘Credit Invisibility’ Among Assisted Households
HUD and the Policy and Economic Research Council, in a new study examining reporting rent payments to credit reporting agencies, said while rent payment performance can improve both credit visibility and the fraction of tenants with credit scores above 620, it also shows that many public housing tenants continue to have subprime credit scores that can limit their housing choices and their ability to obtain insurance.