Los Angeles Times, May 21, 2021–Erin B. LoganThe enduring image of the American Dream is owning a tidy single-family house in the suburbs. But for many people of color and …
Category: Top National News
Most Homeowners Have Exited Mortgage Forbearance Programs–But Those Who are Left are the Most Vulnerable
CNBC, May 21, 2021–Megan LeonhardtOnly 35% of borrowers, or about 2.2 million homeowners, who signed up for forbearance remain in these programs, the New York Fed found. But those who …
Credit Demand From Americans Fell During the Pandemic–Except in One Major Way
MarketWatch, May 20, 2021–Jacob PassyThere was one type of loan that experienced a surge in demand throughout the pandemic: Mortgages. “The big outlier in these reported trends is a dramatic …
Mortgage Distress Likely to Climb After Forbearance Ends, Researchers Find
American Banker, May 19, 2021–Polo Rocha (subscription)Only 0.9% of mortgage borrowers are currently at least 90 days delinquent. That figure could rise as high as 3.8% once pandemic-related deferrals lapse …
Restaurant Closures Now at 14% Despite Apocalyptic Predictions
Bloomberg, May 18, 2021–Kate KraderNew data from the National Restaurant Association, a Washington-based industry group, found that 90,000 restaurants across the U.S. have closed permanently or long-term. That’s less than …
Senators Still Can’t Find Common Ground on Flood Insurance Reform
National Mortgage News, May 18, 2021-Hannah Lang (subscription)Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A …
Up to $20 Billion in Investor Home Loans Heading for Private Market
National Mortgage News, May 17, 2021–Bonnie Sinnock (subscription)With little transitional disruption, the bigger players on the non-agency side could gain a hefty share of non-owner-occupied mortgage volume as a result …
Black Knight Buys Mortgage-Backed Securities Data Specialist eMBS
MortgageOrb, May 17, 2021–Michael BatesBlack Knight Inc. acquired eMBS Inc., a provider of performance data and analytics on agency-backed securities.https://mortgageorb.com/black-knight-buys-mortgage-backed-securities-data-specialist-embs
Fannie Mae Chief Financial Officer to Resign
Mortgage Professional America, May 17, 2021–Candyd MendozaFannie Mae chief financial officer Celeste Mellet Brown intends to leave her position, according to a recent filing with the Securities and Exchange Commission.https://www.mpamag.com/news/fannie-mae-chief-financial-officer-to-resign-255205.aspx
Plunging Mortgage Delinquency Rate Shows Forbearance Is Doing Its Job
Motley Fool, May 16, 2021–Maurie BackmanMany Americans lost their jobs or saw their income decline in the course of the pandemic. And for homeowners, mortgage forbearance was a lifeline. (MBA …