DS News, Jan. 6, 2021–Phil HallAccording to the MBA’s latest Forbearance and Call Volume Survey, 5.53% of servicers’ portfolio volume, or 2.7 million loans, were in forbearance plans as of …
Category: Top National News
Fortnite Creator Is Buying a Dying Mall to Develop New Headquarters
Wall Street Journal, Jan. 5, 2021–Esther Fung (subscription)The company that created the popular videogame “Fortnite” has agreed to purchase a North Carolina mall and plans to redevelop it as a …
CFPB Well-Positioned to Oversee Fintechs, Task Force Says
American Banker, Jan. 5, 2021–Kate Berry (subscription)A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller …
Manhattan Office Vacancies Soar to a Record With Leasing Frozen
Bloomberg, Jan. 5, 2021–John GittelsohnOffice vacancies in Manhattan jumped to a 21st century record as the Covid-19 pandemic froze new rental deals and sublease openings soared. Last year ended with …
Saga Over Regulating Debt Collectors Will Continue in 2021
American Banker, Jan. 5, 2021–Kate Berry (subscription)The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors …
Why Paying Off Your Mortgage Isn’t Necessarily a Given
Washington Post, Jan. 4, 2021–Justin PierceMany Americans dream of holding their home’s title in their hand, but owning your home outright or having a lot of equity in your home …
Good News for Self-Employed Borrowers: Nonqualifying Mortgages are Staging a Comeback
Washington Post, Jan. 4, 2021–Kathy OrtonAfter cratering in March, underwriting of non-QM loans has picked up. (MBA mention)https://www.washingtonpost.com/business/2021/01/04/good-news-self-employed-borrowers-non-qualifying-mortgages-are-staging-comeback/
Pandemic-Fueled Housing Boom Leaves Hardest Hit Behind
The Hill, Jan. 2, 2020–Sylvan LaneWhile the housing boomlet has benefited homeowners, the recession has pushed many Americans further away from having the financial security to buy their first house. …
Black Homeowners Struggle to Get Insurers to Pay Claims
New York Times, Dec. 29, 2020–Emily FlitterBlack policyholders suspect discrimination as they deal with insurers, but it is impossible to prove because the insurers keep a lid on claims data.https://www.nytimes.com/2020/12/29/business/black-homeowners-insurance-claim.html?campaign_id=2&emc=edit_th_20201230&instance_id=25495&nl=todaysheadlines®i_id=42063674&segment_id=48030&user_id=e670283fb4fff3d4391d6f88569ad498
Here’s What Mortgage Forbearance Looked Like in 2020
HousingWire, Dec. 29, 2020–Tim GlazeToday, 2.7 million homeowners remain in forbearance – with more than 78% of them in an extension plan, according to the Mortgage Bankers Association Forbearance and …