American Banker, Jan. 13, 2020–Hannah Lang (subscription)The Federal Housing Administration has been trying to woo banks back to its program with the promise of lighter False Claims Act enforcement and …
Category: Top National News
How Multifamily Can Help the ‘Affordability Crisis’
Mortgage Professional America, Jan. 13, 2020–Kimberly GreeneMultifamily originations for 2018 totaled $339 billion, according to the Mortgage Bankers Association, and volume in 2019 was expected to reach $364 billion. Recently, …
Can California’s Mini-CFPB Pick Up Slack Left by Federal Agency?
American Banker, Jan. 10, 2020–Kate Berry (subscription)An effort by California to create a powerful state consumer protection bureau could have a significant impact on banks, debt collectors and other financial …
CFPB Issues No-Action Letter to Bank of America for Housing Counseling Services
National Mortgage Professional, Jan. 10, 2020–Phil HallThe Consumer Financial Protection Bureau issued a no-action letter to Bank of America regarding the Charlotte, N.C.-based financial institution’s funding arrangements with housing counseling …
New York Governor Vetoes Reverse Mortgage Co-op Bill
Reverse Mortgage Daily, Jan. 12, 2020–Matt H. WadeNew York State Senate Bill S03686, which was drafted in February of 2019 and which passed both the Senate and State Assembly in …
Deciding to Downsize
Forbes, Jan. 11, 2020 Baby Boomers (Americans born between 1946 and 1964) are sitting on over $6 trillion of home equity, according to the Mortgage Bankers Association.https://www.forbes.com/sites/chasehomelending/2020/01/10/deciding-to-downsize/#514cb92d31dc
California Governor to Unveil Plan for State CFPB
American Banker, Jan. 9, 2020–Kate Berry (subscription) California Gov. Gavin Newsom is planning to create a powerful state Consumer Financial Protection Bureau with expanded oversight of nonbank financial institutions and …
Californians’ Home Mortgage Deduction Would Be Capped Under New Bill
San Francisco Chronicle, Jan. 9, 2020–Alexei KoseffThe bill by Assemblyman David Chiu, D-San Francisco, would cap a state tax break for mortgages to the interest paid on the first $750,000 …
The Impacts of US Military Service on Homeownership and Income
Urban Institute, Jan. 9, 2020The report explores how serving in the US military or the presence of a large military institution can ease racial and ethnic disparities in homeownership and …
Skip Payments on a Modified Mortgage and California Cuts You a Big Break
Orange County Register, Jan. 9, 2020–Jeff LazersonLast month a California appellate court concluded that a mortgage lender could not require its borrower to revert to the original mortgage note terms …