HousingWire, Jan. 15, 2019–Jessica GuerinMany predict the Federal Reserve will raise interest rates in the year ahead, and this means HELOC borrowers can expect their loan payments to creep upward.
Category: Top National News
Challenge of CFPB Falls Short as Supreme Court Passes on Case
National Mortgage News, Jan. 14, 2019 (subscription)The U.S. Supreme Court turned away a broad challenge to the structure of the Consumer Financial Protection Bureau, the agency that Republicans say has stifled economic growth through over-regulation.
Basel Committee Releases New Capital Standard for Market Risk
American Banker, Jan. 14, 2019–John Heltman (subscription)The Basel Committee on Banking Supervision unveiled a revised capital standard Monday for what banks should set aside for market risk. The market risk recommendations are among the most important aspects of the Basel III capital accords that remain unfinished.
Waters: A Million-Plus Could Lose Homes Because of HUD Shutdown
National Mortgage News, Jan. 11, 2019–Hannah Lang (subscription)House Financial Services Committee Chairwoman Maxine Waters, D-Calif., called for an end to the government shutdown, claiming that over a million households have been negatively affected by the partial closure of HUD.
Democrats Move to Prevent Foreclosures, Evictions on Unpaid Federal Workers
HousingWire, Jan. 11, 2019–Ben LaneA group of 22 Democrats introduced legislation in both the Senate and the House of Representatives that would protect federal workers and their families from foreclosures, evictions, and loan defaults during a government shutdown.
The Shutdown’s Impact on Financial Services
National Mortgage News, Jan. 13, 2019–Rob Blackwell, Hannah Lang, Andy Peters (free article)The government shutdown is now the longest in American history, officially hitting that mark over the weekend. Though only a partial shutdown, it is having an outsize impact on banks, credit unions and mortgage lenders across the country.
The Right Way to Tap Your Home Equity for Cash
Consumer Reports, Jan. 9, 2019–Daniel Bartz”This money should be used for purposes that really add value,” says Michael Fratantoni, chief economist for the Mortgage Bankers Association. That means spending the cash on a home repair or paying off high-cost debt, rather than taking a vacation.
Fintechs May Finally Win Charter Chase in 2019
American Banker, Jan. 9, 2019–Rachel Witkowski (subscription)The headwinds blowing at fintech firms seeking a national chartering option are still fierce. But observers believe 2019 is the year that a multistate licensing regime will officially arrive.
12 Mortgage Power Players to Watch in 2019
National Mortgage News, Jan. 8, 2019–Paul Centopani, Austin Kilgore (free article)Bob Broeksmit took over as president and CEO of the Mortgage Bankers Association in August. Can he keep the positive momentum going amid significant industry shifts? How will the trade group pivot its lobbying with a divided Congress?
FHA Asks Mortgage Industry to Help Unpaid Federal Workers with their Mortgages
HousingWire, Jan. 8, 2019–Ben LaneThe Federal Housing Administration announced late Tuesday that it is calling on all approved mortgagees and lenders to be “sensitive to the financial hardships experienced by borrowers as a result of the shutdown,” including borrowers who are subject to furlough, layoff, or a reduction in income due to the shutdown.