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 …
Category: Top National News
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 …
Commercial Real Estate Investments In Recessionary Times
Forbes, July 14, 2020–Dennis BethelTo better understand the performance of commercial real estate, let’s look to the past. Over the last 40 years, there have been five distinct recessions.https://www.forbes.com/sites/forbesrealestatecouncil/2020/07/14/commercial-real-estate-investments-in-recessionary-times/#73b71c966af9
‘This Is Not a Normal Recession’: Banks Ready for Wave of Coronavirus Defaults
Wall Street Journal, July 14, 2020–Ben Eisen, David Benoit (subscription)The largest U.S. banks signaled that the worst of the coronavirus recession is yet to come, opting to stow away tens …
An Indicator that Presaged the Housing Crisis is Flashing Red Again
Washington Post, July 14, 2020–Andrew Van DamThe Mortgage Bankers Association reports 4.1 million households were in forbearance as of July 5. To be sure, many applied after the April period …