Bloomberg, Dec. 10, 2020–John GittelsohnThere was an increase in borrowers who fell behind on commercial mortgage payments in November.The delinquency rate on all commercial mortgages climbed to 5.7% in November …
Category: Top National News
Supreme Court Hears Arguments on FHFA Structure
HousingWire, Dec. 10, 2020–James KleimannThe Supreme Court heard arguments Wednesday over whether it should find the structure of the Federal Housing Finance Agency unconstitutional and void an agreement it struck …
A Biden CFPB Could Put Pressure on Mortgage Servicers
American Banker, Dec. 8, 2020–Kate Berry (subscription)Mortgage servicing could face increased scrutiny early next year as the incoming Biden administration and some states are expected to take a harder line …
What Does the Adverse Market Fee Mean for the Housing Industry?
Builder, Dec. 9, 2020–Nicollette Chapman“The [Mortgage Bankers Association] has been a great advocate for our members and our industry to ensure there’s ongoing collaboration with the FHFA and the GSEs …
Mortgage Servicers are Losing 80% of Borrowers–Black Knight
Mortgage Professional America, Dec. 8, 2020–Candyd MendozaQ3 was a banner quarter for origination volumes. But mortgage servicers have lost the business of refinancing more than 80% of homeowners as they …
As Pandemic Lifelines Expire, Americans in Housing Free Fall
Reuters, Dec. 8, 2020–Michelle ConlinOvernight, an unprecedented bill of $70 billion in unpaid back rent and utilities will come due, according to estimates by Moody’s Analytics Chief Economist Mark Zandi. …
Mr. Cooper, U.S. Bank & PNC Settle Claims Regarding Bankrupt Borrowers
National Mortgage News, Dec. 7, 2020–Brad Finkelstein (subscription)On the same day that Mr. Cooper announced it settled allegations over its servicing practices, it and two other lenders reached a separate …
Millions of Americans Are Heading into the Holidays Unemployed and Over $5,000 Behind on Rent
Washington Post, Dec. 7, 2020–Heather Long Nearly 12 million renters will owe an average of $5,850 in back rent and utilities by January, Moody’s Analytics warns. Last month, 9 million …
Restaurant Closings Top 110,000 With Industry in ‘Free Fall’
Bloomberg, Dec. 7, 2020–Carolina GonzalezMore than 110,000 restaurants have closed permanently or long-term across the country as the industry grapples with the devastating impact of the Covid-19 pandemic. And more …
Waters Calls on Biden to Reverse Trump’s Deregulatory Actions
American Banker, Dec. 7, 2020–Neil Haggerty (subscription)House Financial Services Committee Chairwoman Maxine Waters, D-Calif., sent a 45-page letter to President-elect Joe Biden calling on him to “immediately reverse” deregulatory actions …