Bloomberg, Feb. 25, 2021–Christopher Maloney, Liz McCormickThere comes a point in any big selloff in Treasury bonds when the move becomes so pronounced that it starts to feed on itself. …
Category: Top National News
Texas Loss Drafts Surge as Servicers Face Widespread Property Damage
National Mortgage News, Feb. 25, 2021–Bonnie Sinnock (subscription)Mortgage companies are working to forge links with homeowners’ insurers to avoid delays that could compound damage to customer service and properties.https://www.nationalmortgagenews.com/news/how-the-texas-storm-will-test-mortgage-servicers
The Number of Hispanic Households Will Skyrocket by 2040. How Can the Housing Industry Support Their Needs?
Urban Institute, Feb. 25, 2021–Laurie Goodman, Jun ZhuHispanic households will account for 70 percent of net new homeowners between 2020 and 2040. Despite the many barriers to homeownership they face, …
Experts Wrestle With How to Help Black Americans Build Wealth
Bloomberg, Feb. 24, 2021–Peter CoyThe Federal Reserve reported last year that, according to its Survey of Consumer Finances, the median wealth of Black families in the U.S. was $24,100 in …
Biden Administration May Undo Certain Trump-Era Mortgage Rules
CNBC, Feb. 24, 2021–Greg IacuriSome groups believe the Trump-era rules should remain in place. They will help banks and other lenders innovate and extend more mortgages to underserved groups, such …
N.Y. Appeals Court Sides with Lenders in Foreclosure Case
National Mortgage News, Feb. 23, 2021–Kate Berry (subscription)The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.https://www.nationalmortgagenews.com/news/n-y-appeals-court-sides-with-lenders-in-foreclosure-case
Fed Nears Decision on Continued Easing of Bank Capital Rule
American Banker, Feb. 23, 2021–Hannah Lang (subscription)Chair Jerome Powell told a congressional panel that the Federal Reserve is weighing whether to extend temporary relief from the “supplementary leverage ratio” — …
Court Rules in Favor of Nationstar in Reverse Mortgage Servicing Portfolio Dispute
Reverse Mortgage Daily, Feb. 22, 2021–Chris ClowA dispute arising out of a 2015 purchasing agreement where Nationstar Mortgage acquired the reverse mortgage servicing portfolio of former reverse mortgage lender Generation …
In this Crisis, White House and Banks are On Same Team
American Banker, Feb. 22, 2021–Hannah Lang (subscription)More than a decade after the near collapse of the financial system and the bruising fight over Dodd-Frank put the industry and a Democratic …
Biden Criticizes Earlier Rollout of PPP as His Administration Changes Rules to Help Smaller Businesses
Washington Post, Feb. 22, 2021–Aaron GreggThe Treasury Department announced Monday that it will make targeted changes to its Paycheck Protection Program pandemic relief loans in an attempt to direct more …