Barron’s, June 24, 2021–Daren FondaAbout 4% of mortgages were in forbearance at the end of May, according to the Mortgage Bankers Association. The rate is coming down, but a day …
Category: Top National News
JPMorgan Invests in Mortgage Clearinghouse
Wall Street Journal, June 22, 2021–Matt Wirz and Ben Eisen (subscription)JPMorgan Chase & Co. is redoubling efforts to revive a type of mortgage that largely died out after the last …
U.S. Watchdog to Adopt Mortgage Moratorium Rule with Some Exclusions–Sources
Reuters, June 22, 2021–Katanga JohnsonThe Consumer Financial Protection Bureau in coming weeks will adopt a rule requiring mortgage servicers to give struggling homeowners until next year to resume repayments, but …
Fed Officials: Faster Bond Taper Could Keep Options Open on Rate Hike
Reuters, June 21, 2021–Howard Schneider and Jonnelle MarteTwo regional Federal Reserve officials said Monday that a faster withdrawal from the central bank’s bond purchase program could give it more leeway …
How CBRE’s Repositioning Team Plans to Reinvent the Mall
Wealth Management Real Estate, June 21, 2021–Tom MartinAs malls and shopping centers look to recover from COVID-19, many are redefining themselves. Regional malls were declining prior to 2020, but the …
Why Servicers May Not Need to Staff Up for Forbearance Outcomes
National Mortgage News, June 21, 2021–Bonnie Sinnock (subscription)So far companies plan on using roughly the same number of employees as they shift from handling payment suspensions to assessing borrowers who …
PACE: Last Week Tonight with John Oliver
HBO, June 21, 2021–John OliverJohn Oliver explains how PACE, a program meant to pay for environmentally-friendly home renovations, is fundamentally flawed and can put people at risk of losing their …
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform
National Mortgage Professional, June 18, 2021–Navi PersaudOcwen Financial Corporation’s wholly-owned subsidiary, PHH Mortgage Corporation entered into an agreement with Reverse Mortgage Solutions and its parent, Mortgage Assets Management, LLC to …
Why a Multifamily Foreclosure Tsunami is Unlikely
National Mortgage News, June 21, 2021–Brad Finkelstein (subscription)Analysts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt …
U.S. Black Workers Still Earning Less than Whites–Report
Reuters, June 18, 2021–Lucia MutikaniBlack workers in the United States continue to earn less than their white counterparts even as American companies are raising diversity and inclusion as a cornerstone …