Urban Institute, Dec. 3, 2019–Sarah Strochak, Laurie Goodman, Ellen SeidmanCurtailing data collection on multifamily lending by eliminating reporting on lending to business borrowers would be a big step in the …
Category: Top National News
The Staggering Millennial Wealth Deficit, in One Chart
Washington Post, Dec. 3, 2019–Christopher IngrahamMillennials own just 3.2 percent of the nation’s wealth. To catch up to Gen Xers, they’d need to triple their wealth in just four years. …
Compass Seeks Arbitration to End Reaolgy Lawsuit
HousingWire, Dec. 3, 2019–Kathleen HowleySoftBank-backed Compass filed a motion on Nov. 25 asking a New York judge to stay the legal proceedings and force the two companies to seek arbitration. …
Home Price Growth Slowed in October, Spike Expected Next Year
National Mortgage News, Dec. 3, 2019–Paul Centopani (subscription)October’s deceleration in housing values could be followed by acceleration in 2020, but a growing subset of millennials nevertheless plan to become homeowners …
California’s Great Data-Privacy Rush
National Mortgage News, Dec. 2, 2019–Paul Centopani (subscription)As lenders look ahead to 2020, they can thank a well-known whistleblower for the next big compliance challenge the industry will face.https://www.nationalmortgagenews.com/list/californias-great-data-privacy-rush?brief=0000015a-382f-d09d-a7fe-feafb2c90000
Early Bird Special: CFPB to Reward Firms that Quickly Fix Violations
National Mortgage News, Dec. 2, 2019–Kate Berry (subscription)The Consumer Financial Protection Bureau is planning to give companies accused of wronging consumers a chance to get released early from consent orders.https://www.nationalmortgagenews.com/news/early-bird-special-cfpb-to-reward-firms-that-quickly-fix-violations
Loan Defect Frequencies Continue to Decline
National Mortgage Professional, Nov. 27, 2019–Phil HallFrequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications during October was down by 1.4 percent from September, according …
Fannie, Freddie High-Cost Loan Limits Raised to Record $765,600
Riverside (Calif.) Press-Enterprise, Nov. 28, 2019–Jeff LazersonIncreased loan limits mean some mortgage shoppers may now be able to turn their jumbo loans into conventional high-balance loans. And, some previous high-balance …
Meet the Man Loosening Bank Regulation, One Detail at a Time
New York Times, Nov. 29, 2019–Jenna SmialekSome say Randal Quarles is giving big banks a gift, little by little. Others call it needed fine-tuning. He pledges allegiance to efficiency.https://www.nytimes.com/2019/11/29/business/economy/bank-regulations-fed.html?nl=todaysheadlines&emc=edit_th_191129?campaign_id=2&instance_id=14107&segment_id=19180&user_id=e670283fb4fff3d4391d6f88569ad498®i_id=420636741129
Highs and Lows in FDIC’s 3Q Report on Industry’s Health (subscription)
American Banker, Nov 26, 2019–Joe AdlerThe Federal Deposit Insurance Corp.’s Quarterly Banking Profile portrayed a healthy sector, with a growing loan book and a declining rate of noncurrent loans.https://www.americanbanker.com/list/highs-and-lows-in-fdics-3q-report-on-industrys-health?brief=00000158-07c7-d3f4-a9f9-37df9bc10000