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 …
Category: Top National News
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 …
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