Orange County Register, Apr. 8, 2021–Jeff LazersonThe Consumer Financial Protection Bureau has proposed that mortgage servicers delay action on borrowers’ principle residence until after December. (MBA mention)https://www.pasadenastarnews.com/2021/04/08/agency-plan-would-postpone-foreclosures-until-2022/
Category: Top National News
Does CFPB Have Authority to Postpone Foreclosures?
HousingWire, Apr. 7, 2021–Alex RohaAt the peak of forbearance, nearly 6 million borrowers were in some form of forbearance, but over half of those homeowners have since exited. According to …
Mortgage Servicers are Stepping Up During COVID
HousingWire, Apr. 7, 2021–Robert Broeksmit, CMBMBA President & CEO shows how the Consumer Financial Protection Bureau’s own data reported complaints against mortgage servicers are down 3.5%.https://www.housingwire.com/articles/cfpb-report-shows-how-mortgage-servicers-have-stepped-up-during-covid/
Average Rent Due to Pass $6K, Minorities Feel Most at Risk
Multi-Housing News, April 6, 2021–Lew SichelmanThe Consumer Financial Protection Bureau estimates the number of residents behind on their rents will reach nearly 7 million by the end of June. https://www.multihousingnews.com/post/average-rent-due-to-pass-6k-minorities-feel-most-at-risk/
Real-Estate Losers in 2020, Like Hotel and Mall Owners, Starred in the First Quarter
Wall Street Journal, Apr. 6, 2021–Peter Grant (subscription)Real-estate investment trusts overall rose 9% during the three months, beating the S&P 500’s 6% gain, according to data-analytics firm Green Street. Fueling …
What Supreme Court’s Robocall Decision Means for Banks, Credit Unions
American Banker, Apr. 6, 2021–Kevin Wack (subscription)The 9-0 ruling markedly diminishes the threat of lawsuits involving automated calls and text messages to consumers.https://www.americanbanker.com/news/what-supreme-courts-robocall-decision-means-for-banks-credit-unions
Why Now is Not the Time for FHA Premium Cuts
HousingWire, Apr. 5, 2021–Brian Montgomery, Keith Becker, Michael MarshallThe authors, former HUD officials, said wWile it is tempting to consider cutting premiums at a time when many in our country …
CRE Loan Maturities Cushioned by Willing Lenders
Commercial Property Executive, Apr. 5, 2021–Siley Fleming“There’s a strong appetite for lenders to make loans right now,” said Jamie Woodwell, vice president of commercial real estate research for the Mortgage …
Senior Housing Wealth Tops $8 Trillion for First Time
Reverse Mortgage Daily, Apr. 4, 2021–Chris ClowHomeowners aged 62 and older saw their collective housing wealth increase in Q4 2020 by 3% compared to the previous quarter, an increase of …
The Mortgage Market Is Roaring, but Lots of People Can’t Get a Loan
Wall Street Journal, Apr. 2, 2021–Orla McCaffrey (subscription)The mortgage market is humming, but getting approved for a home loan is as difficult as it has been in years. Mortgage credit …