National Mortgage News, July 17, 2024-Brad FinkelsteinA final rule governing the use of automated valuation models in mortgage lending has now been published by a group of six federal regulators, …
Category: Top National News
Remodeling Rebound Forecast for 2025
The Wall Street Journal, July 18, 2024-Ryan DezemberA widely cited gauge of home renovation and repair spending predicts an upswing early next year, after dipping in 2024.Click here for more (subscription)
Depository Share of Mortgage Servicing Declines Again in 2Q
Inside Mortgage Finance, July 19, 2024–John BancroftBanks, thrifts and credit unions serviced $3.081 trillion of single-family loans held in agency mortgage-backed securities as of the end of June, down 1.7% …
American Borrowers Are on Shakier Ground. These Charts Show Why.
The Wall Street Journal, July 21, 2024-Gina Heeb and Kailyn RhoneThe American economy has held up well against higher inflation and interest rates. Many individual borrowers haven’t.Click here for more (subscription)
Cash-Out Refi Activity Helps Loosen Mortgage Credit
National Mortgage News, July 11, 2024-Brad FinkelsteinMortgage credit continues to loosen as lower interest rates led lenders to add cash-out refinance products to their menus, the Mortgage Bankers Association found.Click …
FHA Releases Redraft of Servicing Defect Classifications
National Mortgage News, July 11, 2024–Bonnie SinnockThe descriptions for remedies and indemnification have the most significant changes and more details were added throughout.Click here for more (subscription)
Zombie Seconds Addressed in CFPB Proposed Rule
Home Equity Lending News, July 11, 2024A new servicing rule proposed by the Consumer Financial Protection Bureau addresses dormant second mortgages in which the borrower stopped making the monthly payments …
Evictions Surge in Major Cities in the American Sunbelt
The Wall Street Journal, Will Parker, July 15, 2024Tenant evictions look stuck at elevated levels in several corners of the U.S., showing little sign of returning to what was typical …
Most Americans Carry Some Kind of Non-Mortgage Debt
ABC15 Arizona, July 2, 2024–Garrett ArcherAccording to a study by the financial site lendingtree.com, Americans owe a median of $24,668 in non-mortgage debt. The study also breaks down non-mortgage debt …
CFPB Director Rohit Chopra on Junk Fees, The New AVM Rule and More
HousingWire podcast, July 2, 2024–Sarah WheelerOn today’s episode, HousingWire Editor in Chief Sarah Wheeler talks with CFPB Director Rohit Chopra about junk fees, the new AVM rule, the public orders …