Wall Street Journal, June 29, 2020–AnnaMaria Andriotis (subscription)Banks have pulled back sharply on lending to U.S. consumers during the coronavirus crisis. One reason: They can’t tell who is creditworthy anymore.https://www.wsj.com/articles/flying-blind-into-a-credit-storm-widespread-deferrals-mean-banks-cant-tell-whos-creditworthy-11593423001?mod=hp_featst_pos3
Category: Top National News
FDIC Considers Scrapping Quarterly Bank Reports
Wall Street Journal, June 28, 2020–Andrew Ackerman (subscription)The Federal Deposit Insurance Corp. is moving to boost the way it monitors for risks at thousands of U.S. banks, potentially scrapping quarterly …
Big Savings Available by Refinancing Mortgage at Today’s Historically Low Rates
South Florida Sun-Sentinel, June 27, 2020–Ron HurtibiseWhen rates are this low, it makes sense to look into refinancing if your loan rate is at least a half of a percentage …
Ohio Supreme Court Approves Foreclosures that Sell Homes Without Compensating Owners for Equity
Cleveland.com, June 25, 2020–Lucia WalinchusThe Ohio Supreme Court has ruled that an unusual foreclosure process that can result in people’s homes being sold without compensation for their equity should remain …
The Jumbo Market Shows Signs of Heating Up
Wall Street Journal, June 25, 2020–Katy McLaughlin (subscription)Loan activity went into a deep freeze following the onset of the pandemic, but lenders seem to be loosening their purse strings again…a …
Election, Supreme Court Case May Dictate Fate of CFPB’s QM Proposal
American Banker, June 24, 2020–Kate Berry (subcription)An imminent high court ruling about the independence of the bureau’s director, coupled with an election victory for Joe Biden, could doom a plan …
To Understand a City’s Pace of Gentrification, Look at Its Housing Supply
Urban Institute, June 24, 2020–Laurie Goodman, Ellen Seidman, Jun ZhuIn many MSAs, high housing costs—resulting from a lack of available housing—cause affluent buyers to look for homes in low- and …
Caliber Home Loans Settles with N.Y. AG over Interest-Only Loan Mods
National Mortgage News, June 24, 2020–Bonnie Sinnock (subscription)Caliber Home Loans agreed to a settlement with New York Attorney General Letitia James in which it will provide as much as $17 …
Virus Pummels Commercial Real Estate, Could End Long Boom
Associated Press June 24, 2020–Joyce Rosenberg, Ken SweetAmericans are likely to see more “for rent” signs in the coming months as many businesses devastated by the coronavirus pandemic abandon offices …
MBA Urges The FHFA To Diversify FHLB System Membership
National Mortgage Professional, June 24, 2020–Navi PersaudThe Mortgage Bankers Association penned a letter to Federal Housing Finance Agency Director Mark Calabria urging the agency to expand membership in the Federal …