American Banker, May 7, 2021–Kate Berry, Hannah Lang (subscription)Fannie and Freddie’s regulator says the companies must comply with the new Qualified Mortgage standard by the summer, while the Consumer Financial …
Category: Top National News
Covid Forced More Borrowers to be Late on their Mortgages than at Any Time Since the Great Recession, CFPB Says
Washington Post, May 7, 2021–Michelle SingletaryThe nation’s consumer watchdog agency says more borrowers are behind on their mortgages than at any time since the Great Recession. And the situation is …
Regulatory Costs Add Nearly $94K to New Home Prices
HousingWire, May 7, 2021–Tim GlazeA recent study by the National Association of Home Builders found that regulations imposed by all levels of government on new homes account for $93,870, or …
Do Wells Fargo, U.S. Bancorp Investigations Signal a New Era at CFPB?
American Banker, May 7, 2021–Kevin Wack, Alissa Kline (subscription)The banks disclosed this week that they are under scrutiny for conduct that may have harmed consumers. The timing raises questions about …
Altisource, Ocwen Resolve Dispute over Default Services for New Residential
National Mortgage News, May 6, 2021–Brad Finkelstein (subscription)The agreement, which is extended for five years, also expands upon the delinquent mortgages services Altisource will provide to Ocwen.https://www.nationalmortgagenews.com/news/altisource-ocwen-resolve-dispute-over-default-services-for-new-residential
Fannie, Freddie Shrink Mortgage Menu During COVID
Orange County Register, May 6, 2021–Jeff LazersonBy all accounts, mortgages are performing nicely during the COVID-19 pandemic. Real estate is roaring. Mortgage rates remain as low as they go. And …
NYC’s Financial District Condos Pile Up as Office Life Retreats
Bloomberg, May 6, 2021–Oshrat CarmielFor both homebuyers and office-seekers, one thing is true about Manhattan’s Financial District: There’s lots of space for the taking.https://www.bloomberg.com/news/articles/2021-05-06/nyc-s-financial-district-condos-pile-up-as-office-life-retreats?srnd=premium
Despite Pandemic, Fewer Homeowners Missing Payments
DSNews, May 6, 2021–Eric C. PeckThe Mortgage Bankers Association’s Research Institute for Housing America found that slightly under five million households did not make their rent or mortgage payments in …
Fannie and Freddie Set Dates for their New Refi Option
HousingWire, May 5, 2021–Alex RohaThe Federal Housing Finance Agency didn’t have a set date for its new refi option targeted to low-income borrowers when it announced the program last week. …
Get Ready To Duck And Cover
National Mortgage Professional, May 5, 2021–Tyna-Minet AndersonA more “aggressive” CFPB is not just something that compliance professionals are warning about — it is a term that the Consumer Financial Protection …