Urban Institute, Aug. 21, 2020–Jung Hyun Choi, Laurie GoodmanThe researchers explain that the lower incomes and service-focused jobs of the 22 million people who live in manufactured homes make them …
Category: Top National News
It’s Unanimous: Every Banking Association Hates FHFA’s New Refi Fee
Mortgage Professional America, Aug. 21, 2020–Ryan SmithHousing industry groups have been nearly unanimous in condemning the Federal Housing Finance Agency’s recently announced decision to add a 50-basis-point fee to most …
Fannie Mae and Freddie Mac CEOs Address Industry on Refinance Fee Grievances
HousingWire, Aug. 20, 2020–Julia Falcon“Contrary to much of the criticism we have received since making this announcement, this will generally not cause mortgage payments to ‘go up.’” the letter states. …
Coming Soon to Your Refi: A Half-Point Fee that Could Add $2,500 or More to Costs
Orange County Register, Aug. 20, 2020–Jeff LazersonLast week came announcements from mortgage giants Fannie Mae and Freddie Mac that an “adverse market fee” of one-half point will be added to …
HUD to Extend Foreclosure Ban Protecting 8.1 Million People Until 2021
Politico, Aug. 18, 2020–Katy O’DonnellThe ban applies to the roughly 8.1 million homeowners with single-family mortgages insured by the FHA, a HUD agency that backs loans to low- and moderate-income …
Banks Uncover Loophole to Buy Home Loans at Below-Market Prices
Bloomberg, Aug. 20, 2020–Joe LightBanks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it …
Refi Fee Will Wipe Out Millions in Mortgage Profits
American Banker, Aug. 20, 2020–Kate Berry, Bonnie Sinnock (subscription)Banks, mortgage lenders and brokers could easily end up paying hundreds of millions of dollars on refinanced loans whose fixed rates have …
1 in 4 Hotels Can’t Pay Their Mortgage
CNN Business, Aug. 19, 2020–Jordan ValinskyThe report, sent to Congress this week and compiled by Trepp, shows that the percentage of hotel loans 30 or more days delinquent is 23.4% …
A Troubling Tale of a Black Man Trying to Refinance His Mortgage
CNBC, Aug. 19, 2020–Diana OlickAkili Akridge had all the right stats: a steady six-figure salary, an 800 FICO credit score, and 20% equity in a home. He experienced firsthand the …
How are Homeowners Coping with the Coronavirus Economy? The Mortgage Market is Giving Clues
MarketWatch, Aug. 19, 2020–Sanjiv DasThe author, with Caliber Home Loans, says the decline in mortgage forbearance applications is a positive sign.https://www.marketwatch.com/story/how-are-homeowners-coping-with-the-coronavirus-economy-the-mortgage-market-is-giving-clues-2020-08-19