Mortgage Professional America, June 11, 2021–Candyd MendozaThe sale consists of roughly 12,200 loans with an unpaid principal balance of approximately $1.6 billion. The deal, marketed in collaboration with Citigroup Global …
Category: Top National News
Industry Groups Urge Biden to Let CDC Eviction Ban Sunset
HousingWire, June 11, 2021–Georgia Kromrei“We all want to see renters made whole,” said Michael Flood, the Mortgage Bankers Association’s senior vice president of commercial and multifamily. “Not only are they …
CMBS Coupon-Clipping: Tips for Commercial Mortgage Shopping
Development Magazine (NAIOP), Summer 2021–Andrew Foster, Cody CharfarousThe commercial mortgage-backed securities (CMBS) market has gone full-cycle in a short time, from active in the first quarter of 2020 to effectively …
Groups Seek to Keep Mortgage Origination, Securitization Rules Aligned
National Mortgage News, June 9, 2021–Bonnie Sinnock (subscription)A coalition of mortgage, housing and banking organizations on Monday urged regulators to avoid a disconnect between certain pending standards for home loans …
Regions Bank Places $1B Bet on Home Renovation Market
HousingWire, June 8, 2021–James KleimannRegions Bank is looking to make a big dent in the home improvement lending space, striking a deal to acquire EnerBank USA for $960 million in …
Pandemic Drove Up Costs of Complying with Anti-Fraud Rules: Report
American Banker, June 9, 2021–Hannah Lang (subscription)Financial institutions spent nearly $214 billion last year — an 18% jump from 2019 — to meet regulatory requirements for fighting financial crimes, a …
Self-Employed Borrowers Still Struggle to Qualify for Government-Backed Loans
Orange County Register, June 10, 2021–Jeff LazersonDraconian COVID-19 self-employment underwriting restrictions from Fannie Mae (and Freddie Mac) implemented exactly one year ago still stand today. (MBA mention)https://www.ocregister.com/2021/06/10/self-employed-borrowers-still-struggle-to-qualify-government-backed-loans/
U.S. Household Wealth Jumps to Record $136.9 Trillion, Fed Says
Reuters, June 10, 2021–Ann SaphirU.S. household wealth jumped to a record $136.9 trillion at the end of March, a report from the Federal Reserve showed on Thursday, suggesting plenty of …
Housing Boom Fuels Bets that Fed Will Taper Mortgage Bonds
Bloomberg, June 10, 2021–Liz Capo McCormick, Christopher MaloneyWhen the Federal Reserve starts scaling back its massive bond-buying spree, mortgage traders are betting their market will be at the forefront.https://www.bloomberg.com/news/articles/2021-06-10/housing-boom-fuels-bets-that-fed-will-taper-mortgage-bonds-first
Fannie Mae Gives Go-Ahead for Digital Verification
HousingWire, June 10, 2021–Georgia KromrieFannie Mae has given mortgage servicers the green light to use third-party digital vendors to verify income and asset information. Unsurprisingly, mortgage tech firms are thrilled. …