HousingWire, Sept. 7, 2021–Georgia KromrieBob Broeksmit, president of the Mortgage Bankers Association, said the trade association “strongly supports” efforts to increase supply by spurring construction and rehabilitation of homes for …
Category: Top National News
Jobless Americans Are Stuck in Backlog Nightmare as Pandemic Benefits Expire
Bloomberg, Sept. 6, 2021–Shawn DonnanPeople who are owed thousands of dollars in unemployment insurance are fighting bureaucratic delays.https://www.bloomberg.com/news/articles/2021-09-05/jobless-americans-are-stuck-in-backlog-nightmare-as-pandemic-benefits-expire?srnd=premium
It Goes from Bad to Worse for Nola Homeowners Hit by Hurricane Ida
HousingWire, Sept. 3, 2021–Georgia KromrieBefore Hurricane Ida made landfall in New Orleans, many of the city’s lower-income homeowners were already struggling.https://www.housingwire.com/articles/it-goes-from-bad-to-worse-for-nola-homeowners-hit-by-hurricane-ida/
Record Home-Price Gains Zapping Mortgage Insurance
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/
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