American Banker, May 26, 2020–Penny Crosman (subscription)Cybercriminals have targeted at least four financial services technology companies in recent months, potentially giving hackers back-door access to clients. Here’s how banks can …
Category: Top National News
Where Data Security Liability Ultimately Falls for Lenders
National Mortgage News, May 26, 2020–Paul Centopani (subscription)The shift to remote work seemingly overnight amid the coronavirus outbreak has meant that employees also swung from directly accessing legacy software to …
Hedge Fund Activist Is Shorting New York Office Stocks
Wall Street Journal, May 22, 2020–Esther Fung (subscription)Jonathan Litt’s hedge fund, Land & Buildings Investment Management, is taking short positions in Empire State Realty Trust, SL Green Realty and Vornado …
Will GSEs’ Record-High Capital Requirements Scare Investors Away?
National Mortgage News, May 25, 2020–Hannah Lang (subscription)Some observers wonder if proposed regulatory targets for Fannie Mae and Freddie Mac will stoke concerns about low shareholder returns. But others suggest …
Mortgage Credit Tightens, Creating Drag on Any Economic Recovery
Wall Street Journal, May 25, 2020–Andrew Ackerman, Nick Timiraos (subscription)Lenders stiffen conditions on refinancing, even though interest rates are low, spooked by the downturn and regulations. (MBA mention)https://www.wsj.com/articles/mortgage-credit-tightens-creating-drag-on-any-economic-recovery-11590431459
Hardships Rise, Delinquencies Fall as CARES Act Changes Credit Reports
National Mortgage News, May 22, 2020–Bonnie Sinnock (subscription)In the mortgage market, hardships were indicated in various ways on 5% of accounts in April, up from less than half of a …
Mortgage Companies Top List for COVID-Related Complaints, Says CFPB
Mortgage Professional America, May 22, 2020–Ryan SmithMortgage companies top the list for COVID-19-related consumer complaints, according to new data from the Consumer Financial Protection Bureau.https://www.mpamag.com/news/mortgage-companies-top-list-for-covidrelated-complaints-says-cfpb-223071.aspx
Homeowners Stopped Paying Mortgages in Record Numbers in April
Washington Post, May 22, 2020–Kathy OrtonThe number of borrowers who stopped paying their home loans spiked by 1.6 million last month, reported real estate data and analytics company Black Knight. …
Wraparound Mortgages Can Help Home Sellers Boost their Prices
Orange County Register, May 21, 2020–Jeff LazersonWith rates below 3%, these seller-financed loans can be a boon for buyers with bad credit and a money-maker for sellers. But they also …
The Mall of America Hasn’t Paid Its Mortgage in Two Months
CNBC, May 21, 2020–Lauren ThomasThe biggest shopping center in the country, The Mall of America, has missed two months of payments on its $1.4 billion mortgage. It’s a sign of …