Bloomberg, Mar. 2, 2020–Eric RostokAt least 3.8 million U.S. homes lie in flood plains. Together, they may be overvalued by $34 billion, according to new research published in a National …
Category: Top National News
Will CFPB Be Reined in? Chief Justice Roberts May Hold the Key
National Mortgage News, Mar. 2, 2020–Kate Berry (subscription)When laywers appear before the U.S. Supreme Court on Tuesday, they see Chief Justice John Roberts as the potential swing vote.https://www.nationalmortgagenews.com/news/will-cfpb-be-reined-in-chief-justice-roberts-may-hold-the-key
Mortgage Risk is Down Thank to Less Risky Refi Transactions
Mortgage Professional America, Mar. 2, 2020–Candyd MendozaThe growing share of lower-risk refinance transactions pulled the frequency of defects, fraud, and misinterpretation in the information submitted in mortgage loan applications to …
U.S. Homeowners, Banks Approach Refinancing Field Day
Reuters, Mar. 2, 2020–David HenryThe Mortgage Bankers Association is revising upward its forecasts for refinancing because of the plunge in bond yields, said Joel Kan, an economic and industry forecaster …
Virus Pushes Global Economy Toward First Contraction Since 2009
Bloomberg, Mar. 2, 2020–William HorobinGlobal economic growth will sink to levels not seen in over a decade as the coronavirus outbreak hammers demand and supply, challenging central banks and governments …
Calabria Now Expects Fannie Mae and Freddie Mac IPOs in 2021
HousingWire, Feb. 28, 2020–Ben Lane Federal Housing Finance Agency Director Mark Calabria told members of the Credit Union National Association this week that he now expects the offering of stock …
5 Ways Mortgage Servicing is Evolving
National Mortgage News, Feb. 28, 2020–Bonnie Sinnock (subscription)Here’s a look at five ways servicing conditions are evolving, according to industry professionals who attended the Mortgage Bankers Association’s national servicing conference.https://www.nationalmortgagenews.com/list/5-ways-mortgage-servicing-is-evolving
Average FICO Score Reaches Record High, Experian Says
HousingWire, Feb. 28, 2020–Kathleen HowleyThe average U.S. FICO score hit a record high of 703 in 2019, driven by Americans in their 30s, as a strong labor market helped people …
JPMorgan Shifts Scores of Workers to Mortgages to Handle Boom
Bloomberg, Feb. 28, 2020–Michelle F. DavisJPMorgan Chase is shifting workers to handle an expected surge in demand for home loans as the American housing market looks forward to its strongest …
Fannie and Freddie Make Record High Contributions to Housing Trust Funds
American Banker, Feb. 27, 2020–Hannah Lang (subscription)The Federal Housing Finance Agency authorized the government-sponsored enterprises to contribute $502.2 million to two funds that help preserve and build affordable housing.https://www.americanbanker.com/news/fannie-and-freddie-to-make-record-high-contributions-to-housing-trust-funds