Mortgage Professional America, Oct. 22, 2020–Ryan SmithSeveral Senate Democrats on Wednesday introduced a bill that would prohibit financial institutions from discriminating against customers.https://www.mpamag.com/news/do-lending-institutions-have-a-discrimination-problem-236942.aspx
Category: Top National News
Mortgage Servicers Seek to Reach Distressed Borrowers ‘Ghosting’ Them
National Mortgage News, Oct. 22, 2020–Bonnie Sinnock (subscription)“I think we’re all kind of puzzled by customers who haven’t raised their hands for help,” Dana Dillard, executive vice president at Mr. …
Why The Mortgage Refinance Window Could Close in the Coming Months
BankRate, Oct. 22, 2020–Jeff OstrowskiAmerican homeowners will refinance mortgages worth nearly $1.8 trillion this year as they lock in historically low rates. However, the window of opportunity for refinancing into …
Calabria to Seek Input on Future Fannie/Freddie Policies
Mortgage News Daily, Oct. 20, 2020–Jann SwansonMark Calabria, director of the Federal Housing Finance Agency used the annual convention and expo of the Mortgage Bankers Association to announce changes in …
Millions Of Homes Are At Risk Of Wildfires, But It’s Rarely Disclosed
NPR, Oct. 21, 2020–Lauren SommerMillions of people in the West move into fire-prone landscapes without getting any warning about that risk from the government, real estate agents or sellers. Almost …
In a Bid for Stability, FHFA and FHA Extend Forbearance Policies
HousingWire, Oct. 21, 2020–Alex RohaThe extension means some borrowers may not exit forbearance until Dec. 31.https://www.housingwire.com/articles/in-a-bid-for-stability-fhfa-and-fha-extend-forbearance-policies/
Financial Firms Gear Up for Biden and an Emboldened Consumer Watchdog
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 …
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 …