National Mortgage News, Jan. 6, 2021–Brad Finkelstein (subscription)The regulator’s demands for ending the action were excessive, Ocwen claimed.https://www.nationalmortgagenews.com/news/ocwen-cfpb-mediation-talks-end-with-no-settlement-the-company-says
Category: Top National News
Democrat Senate Win Could Cut Refinance Wave Short
HousingWire, Jan. 6, 2021–Kelsey RamirezGeorgia held its runoff election on Tuesday, and Democrats appear to have won control of the Senate. Now, housing experts are shifting their 2021 forecasts, theorizing …
MISMO Flags Potential Snag for Lenders in Rollout of New GSE Loan App
National Mortgage News, Jan. 6, 2021–Bonnie Sinnock (subscription)When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many …
Forbearance Volume Activity Ended 2020 on a Flat Note
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 …
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/