ThinkAdvisor, Oct. 12, 2020–Les ShaverFitch Ratings expects life insurers to see 50% more losses on mortgage loans than what they saw during the Great Recession.https://www.thinkadvisor.com/2020/10/12/u-s-life-insurers-may-face-spike-in-mortgage-loan-losses-fitch/
Category: Top National News
SEC Probes Small Bond Trades That Lead to Big Returns
Wall Street Journal, Oct. 12 2020–Justin Baer (subscription)‘Odd lot’ buying in mortgage portfolios is attracting scrutiny.https://www.wsj.com/articles/sec-probes-small-bond-trades-that-lead-to-big-returns-11602495001?
About 60 Million U.S. Households Expect Income Losses This Month
Bloomberg, Oct. 9, 2020–Alexandre TanziNearly 60 million Americans expect someone in their household will lose a job or take a pay cut in the next four weeks, according to survey …
Hurricane Delta Puts 294K Gulf Coast Homes Worth $63B at Risk
National Mortgage News, Oct. 9, 2020–Paul Centopani (subscription)Making landfall as a Category 2 storm, Hurricane Delta’s surge is estimated to cause damage to 293,685 residential properties across Alabama, Louisiana, Mississippi …
CFPB Issues New Marketing Services Agreement Guidelines
National Mortgage News, Oct. 9, 2020–Brad Finkelstein (subscription)The change brings clarity to what is permissible in an MSA, rather than the regulation by enforcement used by the bureau under Richard …
ATP Scoring Paves New Path to Financial Inclusion
HousingWire, Oct. 9, 2020–Michael A. CovingtonThe conventional credit scoring system has a serious problem with excluding people who could be good customers. Nearly 50 million Americans — disproportionately including the …
Will CFPB’s QM Proposal Create New Housing Bubble?
American Banker, Oct. 8, 2020–Kate Berry (subscription)The Consumer Financial Protection Bureau’s overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy …
Almost One-Quarter of Homeowners in Forbearance Are Still Paying
Bloomberg, Oct. 7, 2020–Christopher Maloney“That has been one of the most surprising aspects of this entire episode,” Mike Fratantoni, MBA senior vice president and chief economist, said in an interview …
Commercial Property Foreclosures Are Poised to Rise as Covid-19 Lingers
Wall Street Journal, Oct. 6, 2020–Konrad Putzier (subscription)Many lenders now expect the pandemic and its aftereffects to persist for a long time. As forbearance periods expire, more lenders are going …
A Broader Outreach Strategy Would Help 400,000 Needlessly Delinquent Mortgage Borrowers
Urban Institute, Oct. 5, 2020–Michael Neal, Laurie GoodmanThe authors discuss their attempt to better understand the 400,000 mortgage borrowers who are not taking advantage of the forbearance option offered by …