Trailblazers Impact, Mar. 9, 2021As senior vice president for affordable housing initiatives at the Mortgage Bankers Association, Steve O’Connor is rolling out affordable housing initiatives in several cities. Steve’s role …
Category: Top National News
Foreclosure Looms for Nile Niami’s Infamous Mega-Mansion ‘The One’
Los Angeles Times, Mar. 8, 2021–Jack FlemmingNile Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the …
Yellen Expects U.S. Economy to Return to Full Employment in 2022
Wall Street Journal, Mar. 8, 2021–Paul Kiernan (subscription)The $1.9 trillion Covid-19 relief package passed by the Senate should allow the U.S. economy to return to full employment in 2022, Treasury …
CFPB Throws Mortgage Market Another Curveball
National Mortgage News, Mar. 7, 2021–Kate Berry (subscription)The Consumer Financial Protection Bureau’s mortgage underwriting rule remains a political football following the agency’s decision to delay a key compliance date. Pete …
Algorithms and Housing Discrimination: Rethinking HUD’s New Disparate Impact Rule
The Brookings Institution, March 5, 2021–John Villasenor and Virginia FoggoIn September, HUD published a rule fundamentally changing the framework for pursuing disparate impact claims under the Fair Housing Act. In …
The Tax Man Cometh
UExpress, Mar. 5, 2021–Lew SichelmanThey may not increase this year, or even next year. But thanks to the unusually large jump in housing prices over the last 12 months, plus …
D.C. Power Shift Complicates Fed Decision on Capital Rule
American Banker, Mar. 4, 2021–Hannah Lang (subscription)The industry wants regulators to extend a temporary measure making it easier to satisfy the supplementary leverage ratio. But Democrats’ control of the White …
Finding Opportunities Amid an Improving MSR Market
MReport, Mar. 4, 2021–Brandon McGeeAccording to the Mortgage Bankers Association, nearly 5.5% of all homeowners were in forbearance plans in early December. While this was a decrease from 8.5% six …
Fannie, Freddie’s Old FICO Standards Squeeze Millions of Would-Be Homebuyers
Orange County Register, Mar. 4, 2021–Jeff LazersonThe reality is mortgage giants Fannie and Freddie continue to mandate the use of legacy FICO software from two decades ago rather than current …
CFPB Delay of QM Rule Implementation is a Terrible Move
HousingWire, Mar. 4, 2021–David Stevens, CMBFormer MBA President & CEO says the Consumer Financial Protection Bureau is creating uncertainty and disruption in the housing finance industry and literally forcing the …