New York Times, Dec. 10. 2020–Kirk JohnsonThe family lost its home of 60 years to foreclosure after taking out mortgages to pay legal fees. Some advocates say gentrification and skyrocketing …
Category: Top National News
Biden Win Gives Maxine Waters a Power Boost
American Banker, Dec. 10, 2020–Neil Haggerty (subscription)The head of the House Financial Services Committee is already exerting influence by handing the president-elect a laundry list of Trump regulatory policies that …
U.S. Household Net Worth Hits Record in Third Quarter
Wall Street Journal, Dec. 10, 2020–Paul Kiernan (subscription)The net worth of U.S. households rose to a record in the third quarter as the value of stock portfolios and real estate …
More Borrowers Fell Behind on Commercial Mortgages in November
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 …
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 …