UExpress, Sept. 4, 2020–Lew SichelmanThe number of homeowners seeking mortgage forbearance fell for at least eight straight weeks this summer. But that decline masks a couple of other important trends. …
Category: Top National News
CFPB’s Latest Underwriting Revamp Seen as Boon to Fintechs, GSEs
American Banker, Sept. 2, 2020–Kate Berry (subscription)The agency’s plan to extend the “qualified mortgage” stamp of approval to more loans could help lenders that rely on alternative data and cushion …
Black Borrowers Pay More for Mortgages Throughout the Country–Study
Mortgage Professional America, Sept. 3, 2020–Ryan SmithBlack home buyers are offered higher mortgage rates on average than the general population in every major metro area in the nation, a LendingTree …
Trump Eviction Ban Tests Limits of CDC Authority
The Hill, Sept. 3, 2020–Sylvan LaneBut the eviction ban is a groundbreaking test of the CDC’s power that experts say will undoubtedly prompt several legal challenges. And advocates for both …
PIMCO Warns Releasing Fannie, Freddie Could Imperil Housing Finance
HousingWire, Sept. 2, 2020–Kathleen HowleyBond giant PIMCO, one of the biggest buyers of Fannie Mae and Freddie Mac mortgage-backed securities, warned on Monday that ending the federal conservatorship of the …
Macy’s Posts $431 Million Loss as Stores Continue Recovery
Wall Street Journal, Sept. 2, 2020–Charity L. Scott (subscription)Macy’s reported a loss of $431 million for the latest quarter, even as sales continued to recover from temporary store closures spurred …
COVID Impacting U.S. Commercial, Multifamily Mortgage Delinquencies in Varied Ways
World Property Journal, Sept. 2, 2020–Michael GerrityAccording to 2 new reports released by the Mortgage Bankers Association, delinquency rates of mortgages backed by commercial and multifamily properties reveal the various …
‘Extraordinary’ Move by CDC to Stop Evictions Draws Heavy Criticism from Housing Industry and Tenant Advocates
CNBC, Sept. 2, 2020–Diana Olick“If tenants are unable to pay their rent, then millions of our nation’s housing providers – many of whom are individual landlords and small business owners …
Trump Administration Issues Sweeping Eviction Ban
The Hill, Sept. 1, 2020–Sylvan LaneThe Trump administration issued an order Tuesday banning landlords from evicting tenants from properties they can no longer afford to rent due to income lost …
Congressional Investigation Finds Over $1 Billion in PPP Fraud
NBC News, Sept. 1, 2020–Ben PopkenMore than $1 billion in emergency coronavirus aid relief went to companies who “double dipped” and received multiple Paycheck Protection Program loans, in violation of …