American Banker, May 13, 2021–Neil Haggerty (subscription)The legislation, which the chamber passed Thursday, would ban collectors from making threatening statements to service members and prevent credit bureaus from including debt …
Category: Top National News
Genworth Postpones IPO Of Enact
National Mortgage Professional, May 13, 2021–Navi PersaudGenworth Financial, Inc. is postponing the previously announced initial public offering of its subsidiary Enact Holdings, Inc. The company is citing volatility in the …
Fannie and Freddie Face Price Competition from Mortgage Investors
Orange County Register, May 13, 2021–Jeff LazersonFor decades, secondary mortgage market pricing experts have told me they could never figure out how to find pricing more competitive than Fannie Mae …
Senators Urge CFPB to ‘Reconsider’ QM Delay
HousingWire, May 12, 2021–Georgia KromreiCompliance attorneys and mortgage industry lobbyists aren’t the only ones wishing the Consumer Financial Protection Bureau would proceed with the General Qualified Mortgage Final Rule as …
Wholesale Lenders Relaunch Prime Jumbo–And Not Just Non-QM
National Mortgage News, May 10, 2021–Brad Finkelstein (subscription)While the product was hard to find after the start of the pandemic, the Consumer Financial Protection Bureau’s recent changes to Appendix Q …
One-Third of People Who Delayed Mortgage Payments During COVID Used Cash for Groceries, Utilities
USA Today, May 10, 2021–Swapna Venugopal RamaswamyWhile in forbearance, 34% used the cash that would have gone toward their mortgage for essentials like groceries, medical needs, utilities and additional expenses …
North Suburban Man’s COVID Mortgage Forbearance Nightmare
Chicago Sun-Times, May 7, 2021–Stephanie ZimmermanThe plans are being extended for many borrowers in hopes the economy improves. But Gregg Pupecki got a big shock when his loan servicer demanded …
Confusion over CFPB Underwriting Rule Persists
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 …
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 …