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 …
Category: Top National News
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 …
Mortgage Holders Falling through Gaps in Safety Net
Houston Chronicle, Sept. 24, 2020–R.A. SchuetzMore than 1 million homeowners are at least 30 days behind on their mortgage payments despite aid from the CARES Act, a sign that the …
CRE Concerns Intensify as Stimulus Programs Expire
American Banker, Sept. 23, 2020–Jim Dobbs (subscription)Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, …
Sterling in N.Y. Sheds Non-Performing Loans
National Mortgage News, Sept. 22, 2020–Jim Dobbs (subscription)The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on …
Refinancing Your Mortgage Is About to Get More Expensive
Wall Street Journal, Sept. 23, 2020–Katy McLaughlin (subscription)The Fannie Mae/Freddie Mac adverse market refinance fee will account for roughly a 1/8th of a percentage point rate increase on 30-year-fixed refinances, …
4 FHA Priorities from New Commissioner Dana Wade
National Mortgage News, Sept. 22, 2020–Bonnie Sinnock (subscription)Federal Housing Administration Commissioner Dana Wade has three main priorities, which she shared with women working in the mortgage industry Tuesday: ensuring the …
Banks Criticized for Requiring Balloon Payments on Loans in Forbearance
National Mortgage News, Sept. 22, 2020–Kevin WackBig banks that have been offering mortgage relief to homeowners during the pandemic are facing fresh criticism over the rules they are enforcing when …
Grand Chicago Hotel in Foreclosure, a Symbol of Covid-19’s Toll on Hospitality Industry
Wall Street Journal, Sept. 22, 2020–Peter Grant (subscription)Thor Equities, owner of the Palmer House Hilton, is in default on its $333.2 million first mortgage, court papers say.https://www.wsj.com/articles/grand-chicago-hotel-in-foreclosure-making-it-one-of-covid-19s-biggest-victims-11600767000?mod=hp_lead_pos11