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 …
Category: Top National News
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 …
U.S. Small Businesses to Get More Cash as Pandemic Loan Program Reopens
Reuters, Jan. 11, 2021–Michelle Price, Pete SchroederThe U.S. government on Monday was set to re-open its signature small business pandemic aid program with $284 billion in new funds and revamped …
U.S. Banks Cast Wary Eye at Mortgage Borrowers as Forbearance Periods End
Reuters, Jan. 11, 2021–Imani MoiseU.S. banks are struggling to understand how their residential mortgage portfolios will perform this year, because borrower-assistance programs during the pandemic have clouded who will be …
Non-QM Looks To Bounce Back In 2021
National Mortgage Professional, Jan. 8, 2021–Navi PersaudNonqualified mortgage lenders made serious strides at the end of 2020 to put themselves in a position for success in 2021, following a stall …
New Year Sees 2.74 Million Loans in Forbearance
HousingWire, Jan. 8, 2021–Alex Roha According to the Mortgage Bankers Association, of the cumulative forbearance exits from June 1 through Dec. 27, the average number of borrowers who had made …
Housing Industry, Consumer Groups Clash on CFPB Taskforce Results
HousingWire, Jan. 7, 2021–Kelsey RamirezA taskforce established by the Consumer Financial Protection Bureau to examine the existing legal and regulatory environment facing consumers and financial services providers released its recommendations …
Rocket Mortgage Performs First eNote Close on Ginnie Mae Mortgage
HousingWire, Jan. 7, 2021–Kelsey RamirezIn December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae-backed loan as part of a pilot program. Now, it says …
Fed Officials All Backed Bond-Buying Pace, December Minutes Show
Bloomberg, Jan. 6, 2021–Steve MatthewsFederal Reserve officials unanimously backed holding the pace of asset purchases steady when they met last month.“All participants judged that it would be appropriate to continue …