American Banker, Apr. 12, 2020–Kevin Wack (subscription)In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another …
Category: Top National News
Trump Eyes G-Fee Increase
UExpress, Apr. 10, 2020–Lew SichelmanIf the White House has its way, homebuyers could soon be paying a few thousand more G’s for financing.The administration is looking to place the cost …
Lenders Get Stricter as Some Borrowers Think they Don’t Have to Pay
HousingWire, Apr. 10, 2020–Kathleen HowleyStandards for home loans are tightening by the hour as companies like United Wholesale Mortgage, the nation’s largest wholesale lender, beef up rules to ward off …
Coronavirus Mortgage Relief Poses Risk to Housing Industry
The Hill, Apr. 12, 2020–Sylvan LaneA sixth-month pause on certain mortgage payments mandated by the coronavirus economic rescue bill is causing confusion and risking financial peril across the housing industry. …
Tightening Credit Standards Challenge CRE Industry
Bisnow, Apr. 12, 2020–Jonathan Berr“Many banks are concentrating on their existing book of business and client relationships,” CBRE Global President of Debt & Structured Finance Brian Stoffers said in an …
Fed’s Housing-Market Concerns Increase Pressure to Help Mortgage Firms
Wall Street Journal, Apr. 9, 2020–Paul Kiernan (subscription)Pressure is building on federal regulators to help mortgage companies that say they face a wave of missed payments by struggling homeowners.https://www.wsj.com/articles/feds-housing-market-concerns-increase-pressure-to-help-mortgage-firms-11586471411?mod=hp_major_pos1#cxrecs_s
Fed’s Mortgage Bond Rescue Could Put Some Lenders Out of Business
Bankrate.com, Apr. 9, 2020–James RoyalThe Federal Reserve has begun purchasing hundreds of billions of dollars in bonds, including mortgage-backed securities (MBS), to help shore up debt markets. While the move …
Cities Widely Ignore Federal Flood Protection Rules, With Few Penalties
New York Times, Apr. 9, 2020–Christopher Flavelle, John SchwartzIt’s a simple rule, designed to protect both homeowners and taxpayers: If you want publicly subsidized flood insurance, you can’t build a …
The Case for Supporting Nonbank Mortgage Servicers
National Mortgage News, Apr. 8, 2020–Jon Van Gorp (subscription)The author says without a dedicated government-funded servicing advance facility that is developed quickly to address the immediate need, there is a …
It Just Got Harder to Get, Refinance a Mortgage: Who Faces More Difficulty
Detroit Free Press, Apr. 9, 2020–Susan TomporRecord spikes in jobless claims are creating major roadblocks for consumers who thought that they’d like to save money by snagging a lower mortgage …