Orange County Register, Sept. 3, 2021–Jeff LazersonMortgage insurance is risk-based, meaning the better your middle FICO credit score, the lower the premium you pay. (MBA mention)https://www.ocregister.com/2021/09/02/record-home-price-gains-zapping-mortgage-insurance/
Category: Top National News
Nevada Leads Nation in Risk for Mortgage Fraud, Says Analyst
Nevada Current, Sept. 1, 2021–Dana GentryNevada leads states in the nation and Southern Nevada tops metro areas in mortgage fraud risk, thanks to rapidly increasing home prices, an increase in …
Fannie Mae, Freddie Mac Give Consumers and Edge in Foreclosure Sales
National Mortgage News, Sept. 1, 2021–Bonnie Sinnock (subscription)The Federal Housing Finance Agency on Wednesday increased the number of days it locks investors out of foreclosure property bidding in order to …
Steady Growth in Subservicing, but COVID Challenges Loom
Inside Mortgage Finance, Aug. 31, 2021–Paul MuoloResidential subservicing vendors ended the second quarter with $3.800 trillion worth of contracts on their books, a sequential gain of 3.3% and a 16.6% …
CFPB: Servicers Must Double Their Efforts to Protect At-Risk Borrowers
DSNews, Aug. 31, 2021–Eric C. PeckAs forbearance plans begin to expire for millions of Americans, rules set forth by the Consumer Financial Protection Bureau, the 2021 Mortgage Servicing COVID-19 Proposed …
Cadence Bancorp Paying $8.5 Million to Settle Redlining Allegations
American Banker, Aug. 30, 2021–Jon Prior (subscription)Cadence Bancorp in Houston has agreed to pay a $3 million penalty and provide more than $4 million in loan subsidies to new borrowers …
Eviction Ruling Puts New Pressure on Congress
The Hill, Aug. 28, 2021–Naomi JagodaCongress is under new pressure to keep millions of Americans in their homes after the Supreme Court blocked the Biden administration’s latest eviction moratorium.https://thehill.com/policy/finance/housing/569811-eviction-ruling-puts-new-pressure-on-congress
REIT MBS Holdings Slide as Firms Diversify Investments
Inside Mortgage Finance, Aug. 27, 2021–John BancroftReal estate investment trusts focused on the residential mortgage market reduced their holdings of MBS during the second quarter, according to a new Inside …
Report Finds Racial Bias in Mortgage AI Decisioning; MBA Fires Back
National Mortgage News, Aug. 27, 2021–Paul Centopani (subscription)Even decades after the establishment of the Fair Housing and Equal Credit Opportunity Acts, loan denial rates skew heavily toward non-white borrowers, according …
‘Night and Day:’ FHFA’s Priorities Rapidly Changing Under New Leader
National Mortgage News, Aug. 27, 2021–Hannah Lang (subscription)The Federal Housing Finance Agency in the Trump administration had been preoccupied with Fannie Mae and Freddie Mac’s capital position. Acting Director Sandra …