American Banker, July 9, 2021–Neil Haggerty (subscription)Without permanent heads in place, long-term policy goals such as reforming the Community Reinvestment Act and charting a future for Fannie and Freddie could …
Category: Top National News
Zero-Down Mortgages are Back a Decade After Mortgage Meltdown
Orange County Register, July 8, 2021–Jeff LazersonNo down-payment loans are available for up to $1.25 million so long as the primary wage earner has at least a 700 middle FICO …
Baby Boomers: Rich With Real Estate and Not Letting Go
New York Times, July 8, 2021–Michael KolomatskyThe concept of aging in place, already growing in popularity before the pandemic, has found renewed interest among baby boomers, some of whom are …
CRA Nonsense
The Daily Dish (American Action Forum), July 8, 2021–Douglas Holtz-EakinThe author says expanding the Community Reinvestment Act to include mortgage banks is a terrible idea, citing numerous reasons–including that CRA …
Lenders Work With Apartment Owners As Moratoriums Stretch On
GlobeSt.com., July 07, 2021–Les ShaverThe state and federal eviction moratoriums kept untold millions of people off the streets as the US economy struggled during the pandemic-led downturn. Many landlords were …
These Are the Cities With the Biggest Share of Homeowners in Danger of Foreclosure
MarketWatch, July 6, 2021–Jacob PassyOne group of homeowners continues to be behind on their mortgage payments. If that trend should continue, it could threaten the strength of certain real estate …
Mr. Cooper Sells Reverse Servicing to Mortgage Assets Management
National Mortgage News, July 6, 2021–Bonnie Sinnock (subscription)The divestiture of the Champion Mortgage-branded business to Mortgage Assets Management reduces the unpaid principal balance of Mr. Cooper’s servicing portfolio by $16 …
Goldman Sachs Fulfills $1.8 Billion Consumer-Relief Obligation
National Mortgage Professional, July 5, 2021–Katie JensenGoldman Sachs successfully fulfilled its $1.8 billion consumer-relief obligation under its 2016 settlement agreements with the U.S. Department of Justice and three states.https://nationalmortgageprofessional.com/news/goldman-sachs-fulfills-18-billion-consumer-relief-obligation
PSPA Changes Would Have Marginal Effect on Lenders, Analysts Say
National Mortgage News, July 2, 2021–Brad Finkelstein (subscription)It would be a modest positive for publicly traded mortgage companies if the newly installed acting Federal Housing Finance Agency head reverses some …
Mortgage Servicers Brace for Fallout as COVID Bailout Comes to an End
CNBC, July 2, 2021–Diana OlickThe nation’s mortgage servicers are gearing up for the biggest wave of delinquent loans since the subprime mortgage crisis, but this time they say they are …