American Banker, Feb. 6, 2020–Kate Berry (subscription)At yet another tense hearing Thursday of the House Financial Services Committee focused on the CFPB, Director Kathy Kraninger butted heads with several lawmakers …
Category: Top National News
Lenders Continue to Shed Higher Risk Programs
Mortgage News Daily, Feb. 6, 2020–Jann SwansonAvailability of mortgage credit declined slightly last month. The Mortgage Bankers Association said its Mortgage Credit Availability Index dipped 0.2 percent to 181.9 in …
More People are Taking Cash Out of their Homes
Marketplace, Feb. 5, 2020–Amy ScottThe recent wave of refinancing seems to be more about people taking advantage of lower rates to reduce their monthly payments or to pay off a …
Genworth’s U.S. Mortgage Insurance Business Nearly Doubles in 4Q
National Mortgage News, Feb. 5, 2020–Brad Finkelstein (subscription)The U.S. mortgage business remained a bright spot for Genworth Financial, whose fourth quarter adjusted operating income increased by 29 percent.https://www.nationalmortgagenews.com/news/genworths-u-s-mortgage-insurance-business-nearly-doubles-in-4q19
Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Wall Street Journal, Feb. 5, 2020–Leslie Scism (subscription)Property-and-casualty insurance giants Chubb Ltd. and Allstate Corp. posted strong profit gains in the fourth quarter, thanks to fewer catastrophe claims and premium …
JPMorgan Mulls Return to FHA-Backed Mortgages After Era of Fines
American Banker, Feb. 5, 2020FHA insured $215 billion in loans last year, representing more than 11% of mortgages issued in the U.S., according to HUD. Banks can use the loans …
Survey Tracks Debt Burdens in the 2020s
National Mortgage Professional, Feb. 4, 2020–Phil HallWe might be traveling deeper into a new decade, but many Americans are carrying over too much debt from the previous 10-year stretch, according …
Home-Loan Banks May Soon Channel Funds to More Mortgage Players
Wall Street Journal, Feb. 4, 2020–Andrew Ackerman (MBA mention; subscription)Regulator weighs letting $1.1 trillion network of government-chartered cooperatives, founded to support community lenders, expand to nonbank firms and real estate …
FHFA Redefining Itself Ahead of GSE Overhaul
National Mortgage News–Hannah LangWith policymakers focused on ending Fannie Mae and Freddie Mac’s conservatorship, their regulator is reorganizing key units and adding staff to position itself for the long term. …
Growing the Role of Non-Bank Lenders
MReport, Feb. 4, 2020–Seth Welborn“It’s time to make the system reflect the market that it serves,” said Pete Mills, SVP of residential policy at the Mortgage Bankers Association.https://themreport.com/daily-dose/02-04-2020/growing-the-role-of-non-bank-lenders