Wall Street Journal, Apr. 25, 2021–Leslie Scism, Arian Campo-Flores (subscription)Florida’s property-insurance market is in trouble, as mounting carrier losses and rising premiums threaten the state’s booming real-estate market, according to …
Category: Top National News
Giant U.S. Landlords Pursue Evictions Despite CDC Ban
Reuters, Apr. 23, 2021–Michelle ConlinComprehensive nationwide figures aren’t available. But according to the Princeton University Eviction Lab, 318,091 households have faced eviction proceedings during the pandemic in the 27 cities …
Fannie Mae, Freddie Mac May Broaden Options for Deep Distress
National Mortgage News, Apr. 22, 2021–Bonnie Sinnock (subscription)Though the government-sponsored enterprises have some of the lowest forbearance rates in the market, they expect to contend with a significant population of …
CFPB Appeals Ocwen’s Victory in Servicing Suit
National Mortgage News, Apr. 22, 2021–Kate Berry (subscription)The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.https://www.nationalmortgagenews.com/news/cfpb-appeals-dismissal-of-federal-lawsuit-against-ocwen
Alex Oh Named Securities and Exchange Commission Enforcement Director
Wall Street Journal, Apr. 22, 2021–Dave Michaels (subscription)Alex Oh, a partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP, will assume command of the 1,300-person division, which enforces civil securities …
Mr. Cooper Secures Deal With Google Cloud for Mortgage Servicing Platform
Mortgage Professional America, April 22, 2021–Candyd MendozaNonbank servicer Mr. Cooper Group has teamed up with Google Cloud to create a digital mortgage servicing platform designed to automate its loan documentation …
GSE Caps on Investor Loans May Add to Rising Fraud Risk: CoreLogic
National Mortgage News, Apr. 21, 2021–Bonnie Sinnock (subscription)Fannie Mae and Freddie Mac’s new limits on loans secured by investor properties and second homes may put pressure on applicants to misrepresent …
I Review Mortgages–And I See 3 Areas of Possible Trouble in the Housing Market
MarketWatch, Apr. 21, 2021–Jeff TaylorThe author, head of Mphasis Digital Risk, says there are concerns that an over-exuberant housing market could be threatened by credit risks, unrealistic valuations, sharply rising …
During Pandemic, Landlords Find Relying on One Office Tenant Can Backfire
Wall Street Journal, April 20, 2021–Konrad Putzier (subscription)With the U.S. office market in its worst crisis in a decade, some landlords are discovering the risks of putting all their tenant …
More Homeowners are Leaving Mortgage Forbearance–But Still Need Help
Yahoo! Money, Apr. 20, 2021–Janna Herron“Borrowers are entering a deferral plan or mortgage modification,” Mortgage Bankers Association Chief Economist Mike Fratantoni said. “Maybe they’re back at their job and can …