American Banker, Jan. 2, 2020–Kate Berry (subsription)The main question in the Supreme Court case on the Consumer Financial Protection Bureau deals with the president’s ability to fire a CFPB director. …
Category: Top National News
Foreclosure Starts Fall to Lowest Level This Century: Black Knight
American Banker, Jan. 2, 2019–Brad Finkelstein (subscription)November’s foreclosure starts hit their lowest level since Black Knight started tracking this data in 2000, while the foreclosure rate reached a 14-year low.https://www.americanbanker.com/news/foreclosure-starts-fall-to-lowest-level-this-century-black-knight
FHA, Fannie Mae, Freddie Mac are All Now Backing Larger Loans
HousingWire, Jan. 2, 2020–Ben LaneThat’s because the 2020 loan limits for each of those agencies are now in effect. And each of the agencies’ loan limits are higher for 2020 …
What’s the Fed’s Next Move on CRA Reform?
American Banker, Jan. 3, 2020–Brendan Pedersen (subscription)When regulators unveiled proposed reforms to the Community Reinvestment Act last month, one of the biggest takeaways was the lack of support from the …
Unexpected Side Effect of Iran Strike: Mortgage Rates Stay Low as Investors Flock to Bonds
CNBC, Jan. 3, 2020–Diana OlickThe average rate on the U.S. 30-year fixed mortgage is now at the lowest level in a month, thanks to a run on the bond market …
Securitized FHA Loans for Seniors Ebb as Private Products Grow
National Mortgage News, Jan. 6, 2020–Bonnie Sinnock (subscription)New securitizations backed by Home Equity Conversion Mortgages fell 14% in 2019 as interest in originating proprietary products increased, according to New View …
House Banking Panel to Hold Two Hearings This Month on CRA Reform Plan
American Banker, Jan. 6, 2020–Hannah Lang (subscription)The House Financial Services Committee is scheduled to hold two hearings in January to examine a proposal to overhaul the Community Reinvestment Act, amid …
U.S. Court: No Lender Property Preservation Duty Following Default
DS News, Jan. 6, 2020–Seth WelbornThe United States Court of Appeals for the Second Circuit has affirmed in a recent ruling that a lender has no duty to safeguard a …
Trump Administration Plans Roll Back of Low-Income Housing Rules
Wall Street Journal, Jan. 6, 2020–Laura Kusisto (subscription)The Trump administration plans to unveil new rules on Tuesday that will roll back Obama-era efforts to prod local governments into building more …
Mortgage Rates Below 1% Put Europe on Alert for Housing Bubble
New York Times, Dec. 17, 2019–Liz AldermanMoney is so cheap — a 20-year mortgage can be had in Paris or Frankfurt at a rate of less than 1 percent — …