Business Insider, Mar. 11, 2022–Jason LalljeeMedical debt is getting in the way of young people paying rent or making their mortgage. That’s what a new survey on medical debt from …
Category: Top National News
A Big Bank is in Trouble, and No One Knows Which One or Why
American Banker, Mar. 10, 2022–Claire Williams (subscription)The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules …
Wells Fargo Left Black Homeowners Behind in Pandemic Mortgage Refinancing Boom
Bloomberg, Mar. 11, 2022–Shawn Donnan, Ann Choi, Hannah Levitt, Christopher CannonKristy Fercho, who in August 2020 became the first Black woman to oversee Wells Fargo’s home-lending business and its more …
Non-Agency Offsets Stumble in Fannie/Freddie Jumbo Market
Inside Mortgage Finance, Mar. 10, 2022–John BancroftOriginations of big-ticket home loans set an annual record in 2021, no thanks to a lukewarm agency market for high-balance loans.https://www.insidemortgagefinance.com/articles/224006-non-agency-offsets-stumble-in-fanniefreddie-jumbo-market?v=preview
FHA Gets a Budget Boost To Stem Staff Shortages. Is It Enough?
HousingWire, Mar. 10, 2022–Maria VolkovaFormer agency officials question whether a cash injection is enough to take on systemic problems like uncompetitive pay, a lengthy hiring process and an imminent wave …
Housing Beat: Why Are Foreclosure Filings Up 129% From Last Year?
Benzinga, Mar. 10, 2022–Phil HallThe latest data from the housing market shows a new spike in foreclosure filings, a new wave of lender uneasiness, a new record in luxury homes …
An Interesting Twist: Non-Agency MBS Issuers Stocking Deals with Ginnie EBOs
Inside Mortgage Finance, Mar. 9, 2022–Brandon IveyAn affiliate of Bayview Asset Management offered a $423.6 million non-agency MBS Tuesday with loans that were bought out from Ginnie Mae MBS. Non-agency …
California Man Pleads Guilty to Mortgage Modification Scam
Mortgage Professional America, Mar. 9, 2022–Tony CantuSergio Lorenzo Rodriguez of Orange County, Calif., pled guilty to one count of wire fraud in connection with a fraudulent foreclosure rescue scheme that …
Trump Refinances $100 Million Mortgage On Trump Tower With A Bank Headed By A Political Supporter
Forbes, Mar. 9, 2022–Zach EversonThe financing came from Axos Bank of San Diego, which launched in 2000 as Bank of Internet USA. Its CEO, Gregory Garrabrants, has contributed $50,000 to …
SEC Proposes Requiring Firms to Report Cyber Attacks Within Four Days
Wall Street Journal, Mar. 9, 2022–Paul Kiernan (subscription)Federal regulators are considering a requirement that publicly traded companies disclose data breaches and other significant cybersecurity incidents within four days, as they …