UExpress, July 17, 2020–Lew SichelmanRep. Maxine Waters sums up the naysayers’ opinions pretty succinctly: The new regulation “will be harmful for so many communities across the country at a time …
Category: Top National News
What Matters Most to Mortgage Bankers in the 2020 Election
American Banker, July 17, 2020–Paul Centopani (subscription)Whether Donald Trump or presumptive Democratic nominee Joe Biden wins the 2020 election, the next president will shape housing policies that could have lasting …
OCC ‘Fix’ Weakens Redlining Law
UExpress, July 17, 2020–Lew SichelmanRep. Maxine Waters sums up the naysayers’ opinions pretty succinctly: The new regulation “will be harmful for so many communities across the country at a time …
Lawmakers Question Mortgage Servicers’ Compliance with CARES Act
National Mortgage News, July 16, 2020–Hannah Lang (subscription)At a subcommittee hearing of the House Financial Services Committee, Democrats tried to get to the bottom of why some borrowers reported not …
CFPB Launches Investigation of Quicken Loans Real Estate Affiliate
National Mortgage News, July 16, 2020–Kate Berry (subscription)Quicken Loans, the nation’s largest mortgage lender, said the Consumer Financial Protection Bureau is investigating its real estate affiliate for potential violations of …
9 Charts that Show the Good, the Bad and the Alarming of this Early Economic Recovery
Washington Post, July 16, 2020–Heather Long A 30-year mortgage now comes with a 3.03 percent interest rate, the lowest in history, making home-buying more affordable for those who have strong …
CFPB Slaps Chicago Mortgage Lender with Redlining Lawsuit
American Banker, July 15, 2020–Kate Berry (subscription)The Consumer Financial Protection Bureau has sued Townstone Financial, a Chicago-based mortgage lender alleging it engaged in illegal redlining by discouraging prospective Black applicants …
FHFA’s Challenge: Convincing Supreme Court It’s Not CFPB
National Mortgage News, July 15, 2020–Hannah Lang (subscription)A recent ruling declaring the Consumer Financial Protection Bureau’s structure unconstitutional signaled that a similar outcome awaits the Federal Housing Finance Agency. But …
CoreLogic Stands By Rejection of $7 Billion Takeover Bid
HousingWire, July 15, 2020–Mary Ann AzevedoProperty data and analytics company CoreLogic said Tuesday night that it is still not willing to accept a $7 billion unsolicited takeover bid from investors …
Millions of Americans Have their Mortgages in Forbearance Programs–Here’s Why Those Using Private Lenders May Face Bigger Challenges
CNBC, July 15, 2020–Megan LeonhardtNearly four months after banks and federal agencies started offering a number of assistance programs aimed at giving Americans a break on their mortgages, about 4.1 …