Wall Street Journal, Jan. 15, 2021–David Benoit, Ben Eisen (subscription)JPMorgan Chase & Co. posted a record quarterly profit while Citigroup Inc. and Wells Fargo & Co. both posted higher-than-expected earnings …
Category: Top National News
Technology And Regulation: The Mortgage Industry’s Balancing Act
Forbes, Jan. 15, 2021–Kiran VattemIt’s a widely accepted belief that the mortgage industry has been slower to adopt and implement the types of innovative technologies that are prevalent in other …
The Trump Administration Plays its Last Cards on Fannie and Freddie
Urban Institute, Jan. 15, 2021–Jim ParrottThe author summarizes the Trump administration’s final steps to reform Fannie Mae and Freddie Mac, concluding that it builds some modest momentum for their release …
Biden Calls for Swift Action While Outlining $1.9 Trillion Virus Relief Package
The Hill, Jan. 14, 2021–Morgan ChalfantPresident-elect Joe Biden on Thursday outlined his $1.9 trillion stimulus proposal and called for swift action on it, warning that the health of the nation …
Mortgage Payment Forbearance Must Be Extended
Orange County Register, Jan. 14, 2021–Jeff LazersonForeclosure filings fell almost 41% in California last year, but rising unemployment and the current pandemic surge could cause rebound in missed loan payments. …
Impact of the CARES Act on Mortgage Servicing Operations
HousingWire, Jan. 13, 2021–George FitzGeraldAt the onset of the COVID-19 crisis in the U.S., as servicers worked to quickly help borrowers in need of assistance, significant operational challenges began to …
Servicers Say Shifting Investor Policies are Their Top Challenge
National Mortgage News, Jan. 13, 2021–Bonnie Sinnock (subscription)Changes in rules related to repayment options and refinancing criteria have complicated servicers’ lives, but otherwise this crisis hasn’t been as bad as …
Are CRE Foreclosures on the Horizon?
American Banker, Jan. 12, 2021–Allissa Kline (subscription)Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are …
CFPB, OCC on Collision Course over Who Regulates Fintechs
American Banker, Jan. 12, 2021–Kate Berry (subscription)The Office of the Comptroller of the Currency appears intent on being the federal chartering agency for tech firms with banking ambitions. But some …
Flooding Due to Climate Change Caused $75 Billion of Damage in the U.S.
Bloomberg, Jan. 12, 2021–Leslie KaufmanStanford University researchers have determined that a third of the financial damage caused by flooding in the U.S. over the past three decades—almost $75 billion worth—can …