National Mortgage News, May 28, 2021–Kate Berry (subscription)With Rohit Chopra’s nomination now in its fourth month, some of the consumer bureau’s rulemaking efforts remain on hold. Analysts attribute the delay …
Category: Top National News
Mortgage Refinancing Saved Americans $2,800 Annually
Fox Business, May 28, 2021–Ken MartinThe coronavirus essentially shut down the U.S. economy in 2020. If a homeowner had the opportunity, going the refinance route was the way to go.https://www.foxbusiness.com/personal-finance/mortgage-refinance-saved-americans-money-annually
Credit Scores Don’t Predict Mortgage Default Risk
Orange County Register, May 27, 2021–Jeff LazersonA new government study shows loans to borrowers with high credit scores are no safer than those to borrowers with low scores. (MBA mention)https://www.pe.com/2021/05/27/credit-scores-dont-predict-mortgage-default-risk/
Bank of America and Chase Could Restart Foreclosures As Early as July, But Wells Fargo is Waiting Until 2022
CNBC, May 27, 2021–Megan LeonhardtAbout 2.1 million homeowners are still in forbearance plans that suspend their mortgage payments, according to Mortgage Bankers Association’s latest data. And about 1.8 million families …
Ocwen to Buy $48B MSR Package from AmeriHome
HousingWire, May 26, 2021–James KleimannOcwen’s subsidiary PHH Mortgage Corp. will acquire 178,000 loans sold to or securitized by Fannie Mae and Freddie Mac, boosting its overall total servicing portfolio by …
In Tight Housing Market, Thousands of Homes Are Reserved for Certain Buyers
Wall Street Journal, May 26, 2021–Nicole Friedman (subscription)Real-estate agents are selling more homes to select customers while bypassing the public market, a move that squeezes supply tighter for many buyers …
VA-Like Housing Bill Proposed for First Responders, Teachers
HousingWire, May 25, 2021–Georgia KromreiNew legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. Reps. John Rutherford (R-Fla.), Al Lawson (D-Fla.), …
‘There Is a Little Light, Finally’: New York Hoteliers on Recovery
New York Magazine, May 24, 2021–John SuricoFour New York hoteliers weigh in on how the pandemic affected their industry.https://www.curbed.com/2021/05/new-york-hoteliers-on-the-future-of-the-hotel-industry.html
Issuance of Bundles of Risky Loans Jumps to 16-Year High
Wall Street Journal, May 24, 2021–Sebastian Pellejero (subscription)The prospect of rising inflation and a shift away from the Federal Reserve’s easy money policies are making bonds tied to so-called CLOs …
Non-QM REIT Angel Oak Mortgage Files to Go Public
National Mortgage News, May 21, 2021–Brad Finkelstein (subscription)The size and pricing of the initial public offering were not listed in the filing, although a placeholder figure of $150 million was …