HousingWire, Feb. 24, 2022–Flávia Furlan NunesThe Federal Housing Administration is working to expand the COVID-19 loss mitigation program to include the option of a 40-year loan modification with a partial …
Category: Top National News
Foreclosure Starts Soar While Pending Home Sales Sink
Benzinga, Feb. 25, 2022–Phil HallThe U.S. housing market appears to have begun 2022 on the wrong foot, with newly published data on January activity reporting foreclosures at their highest levels …
Ginnie Considering Changes to Support CDFIs
Inside Mortgage Finance, Feb. 25, 2022–Monica HoganGinnie Mae is looking for ways to support mortgage lending by community development financial institutions, that is, entities that focus on low-income communities, have …
U.S. Homeownership Rate Posts Largest Increase Ever In 2020
National Mortgage Professional, Feb. 23, 2022–David KrechevskyThe homeownership rate for Black Americans (43.4%) is lower than in 2010 (44.2%) and nearly 30 percentage points less than white Americans (72.1%).https://nationalmortgageprofessional.com/news/us-homeownership-rate-posts-largest-increase-ever-2020
Loan Quality Stable as Volume Rises
Yardi Matrix blog, Feb. 23, 2022–Paul FiorillaMeasures of commercial mortgage quality, which have remained relatively conservative despite the growth in loan volume and capital flows into the industry, will be …
The Price of Worsening Sea Level Rise for CRE
Commercial Property Executive, Feb. 22, 2022–Barbra MurrayThe commercial real estate industry is pricing in and planning for sea level rise, “and elevation is the name of the game,” said Emily …
Ocwen Agrees to Pay $1.5M to Settle Class Action
HousingWire, Feb. 22, 2022–Flavia Furlan NunesNonbank mortgage servicer Ocwen agreed to pay $1.5 million to settle a class action lawsuit regarding alleged phone conversations recorded without clients’ consent.https://www.housingwire.com/articles/ocwen-agrees-to-pay-1-5m-to-settle-class-action/
Wells Fargo Sued for Discrimination Against Black Borrowers
National Mortgage News, Feb. 22, 2022–Andrew Martinez (subscription)A homebuyer has filed a class action suit against Wells Fargo, claiming the bank discriminated against African American borrowers through its mortgage origination …
Mortgage Businesses Seen Laying Off Thousands as Volume Drops
Bloomberg, Feb. 22, 2022–Carmen ArroyoU.S. home mortgage lenders have spent much of the last two years hiring. Now they might have to spend the coming months laying workers off. (MBA …
Warehouse Commitments Drop, Usage Rates Begin to Crumble
Inside Mortgage Finance, Feb. 18, 2022–Paul MuoloWarehouse financiers ended 2021 with $144.0 billion of commitments on their books, a sequential decline of 2.0%, capping off a record year for residential …