Mortgage Professional America, July 1, 2020–Ryan SmithSome finance industry groups, including the Mortgage Bankers Association, have expressed support for the Supreme Court’s Monday decision that the president could fire the …
Category: Top National News
Hope Now to Suspend Operations, Citing Coronavirus Restrictions
National Mortgage News, July 2, 2020–Bonnie Sinnock (subscription)“Hope Now’s primary approach to borrower assistance has been organizing and hosting large gatherings of consumers and servicers, an approach that is incompatible …
Sundae Raises $16.55 Million for Distressed Real Estate Marketplace
Housing Wire, June 30, 2020–Mary Ann AzevedoSundae, a residential real estate marketplace that pairs sellers of distressed property with potential buyers, has raised $16.55 million in Series A funding.https://www.housingwire.com/articles/sundae-raises-16-55-million-for-residential-real-estate-marketplace/
U.S. Insurers Increase Commercial Mortgage Loan Holdings
GlobeSt.com, June 30, 2020–Max MitchellU.S. life and annuity insurance companies have seen a dramatic increase in commercial mortgage loan holdings over the past five years, leading to an increased exposure …
Fannie Mae Survey Shows Mortgage Servicers Want Clarity on Post-Forbearance Options for Borrowers
HousingWire, June 29, 2020–Alex RohaLenders cited the health and safety of staff as the biggest challenge they are facing in the midst of COVID-19, according to a recent survey conducted …
After Ruling, Stage Set for New Battles over CFPB’s Future
National Mortgage News, June 29, 2020–Kate Berry (subscription)The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could …
Millions of American Homes at Greater Flood Risk Than Government Estimates, New Study Says
Wall Street Journal, June 29, 2020–Nicole Friedman (subscription)Nearly six million properties across the U.S. have a substantial risk of flooding that isn’t disclosed by federal flood maps, according to nonprofit …
‘Flying Blind Into a Credit Storm’: Widespread Deferrals Mean Banks Can’t Tell Who’s Creditworthy
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
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 …