Wall Street Journal, Oct. 21, 2020–Orla McCaffrey, AnnaMaria Andriotis (subscription)Lenders are worried the days of a business-friendly Consumer Financial Protection Bureau are numbered. Mortgage lenders and financial-technology firms negotiating with …
Category: Top National News
Sorry Lenders: FHFA, GSE Officials Say Mortgage Refi Fee is on Track
National Mortgage News, Oct. 21, 2020–Bonnie Sinnock (subscription)There’s been hope among lenders who sell loans to the government-sponsored enterprises that a pending 50-basis-point refinance fee that’s been postponed could be …
Nonank Lenders on their Liquidity Strategies, Why No One’s Using PTAP
National Mortgage News, Oct. 21, 2020–Brad Finkelstein (subscription)When it comes to liquidity for privately held independent mortgage banks, cash management is the most important metric to watch, a panel said …
Weakened U.S. Consumer Watchdog Expected to Bite Back if Biden Wins Election
Reuters, Oct. 19, 2020–Katanga JohnsonA decade-long Republican campaign to weaken the Consumer Financial Protection Bureau’s independence is set to backfire if Democrat Joe Biden wins the presidential election, by handing …
Black Homeowners Pay $13,464 More on Their Mortgages, Study Says
Bloomberg, Oct. 19, 2020–Yalman OnaranBlack borrowers pay $13,464 more over the life of a home loan, with interest, mortgage-insurance and tax expenses higher than for their White counterparts, further hurting …
The Next Economic Crisis: Empty Retail Space
Politico, Oct. 18, 2020–Katy O’DonnellAs tenants stop paying and shrink their offices, commercial real estate is cratering. (MBA mention)https://www.politico.com/news/2020/10/18/next-economic-crisis-empty-retail-space-429994
4 Trends in Mortgage Fraud to Watch Out For
National Mortgage News, Oct. 16, 2020–Bonnie Sinnock (subscription)Mortgage companies contended with an average of 1,316 fraud attempts per month in 2020, up from 1,280 in the previous year, according to …
Serious Mortgage Delinquencies Are Up, Data Shows
The Ascent, Oct. 16, 2020–Maurie BackmanMillions of Americans have lost their jobs or struggled with income loss since the start of the coronavirus pandemic, so it’s not shocking that as …
Millions Still Missing Rent, Mortgage Payments
Credit Union Times, Oct. 16, 2020–Jim DuPlessisOn Friday, the Mortgage Bankers Association (MBA) released a report that found 8.5% of renters, or 2.8 million households, missed, delayed, or made a …
M&T Bank Fined for Flood Insurance Violations
American Banker, Oct. 15, 2020–Jon Prior (subscription)The Buffalo, N.Y., bank will pay a $546,000 penalty to the Federal Reserve, which will be passed on to the National Flood Insurance Program …