Mortgage Professional America, Sept. 28, 2020–Ryan SmithHUD’s final rule changing its implementation of the Fair Housing Act’s disparate impact standard took effect Thursday, and the agency immediately faced calls to …
Category: Top National News
Personalized Refi Analysis Outperforms Unsolicited Pitches: Survey
National Mortgage News, Sept. 28, 2020–Paul Centopani (subscription)For the majority of borrowers, interest rate research for mortgage refinancing came with unwanted and annoying sales calls, which could ultimately hinder potential …
Household Wealth Broadly Rose in Years Leading Up to Pandemic, Fed Report Concludes
Wall Street Journal, Sept. 28, 2020–Harriet Torry (subscription)U.S. families’ wealth broadly rose in the years headed into the coronavirus pandemic, with those in lower-income and lower-wealth categories reaping relatively large …
Oversight Council Warns of Systemic Threat from Fannie, Freddie
National Mortgage News, Sept. 25, 2020–Hannah Lang (subscription)The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short …
Improvement in Forbearance Numbers Speeds Up–Black Knight
Mortgage Professional America, Sept. 25, 2020–Ryan SmithThe pace of improvement in the number of mortgages in active forbearance improved this week, according to new data from Black Knight.https://www.mpamag.com/news/improvement-in-forbearance-numbers-speeds-up–black-knight-234500.aspx
During the Pandemic, Policymakers Should Maintain Forbearance but Fix Its Costs
Urban Institute, Sept. 23, 2020–Michael Neal, Linna Zhu, Faith SchwartzThis brief notes while foreclosure moratoriums and institutional forbearance have indeed helped homeowners keep their homes, to date, but specific forbearance …
Mortgage Refinancing Boom Is Too Automated
Bloomberg, Sept. 25, 2020–Danielle DeMartino BoothThe Covid-19 pandemic has unleashed numerous unexpected economic consequences. One that has turned out to be good for the economy but could end up being …
Better.com Seeks to Ride Refinancing Wave to a $4 Billion Valuation
The Information, Sept. 23, 2020–Cory Weinberg (subscription)An online mortgage loan startup that has seen strong growth from the borrowing surge is now seeking new financing at a sharply higher valuation …
CFPB Missed Opportunity to Call Out Lending Discrimination, Critics Say
American Banker, Sept. 24, 2020–Kate Berry (subscription)The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers …
Florida Braces for a Storm of Homeowners Insurance Rate Hikes
Bloomberg, Sept. 24, 2020–James TarmyThe peculiar dynamics of reinsurance and climate have inched the state of Florida toward the precipice of an insurance disaster. Simply put, homeowners’ premiums are set …