Category: Top National News

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.

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.

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.

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.

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.

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?

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.

CNBC, Jan. 7, 2019–Tucker HigginsIn a brief, an array of business groups including the Chamber of Commerce and the Mortgage Bankers Association wrote that applying Fair Debt Collections Practices Act protections to the foreclosure process would add “an additional, unwarranted layer of complexity in the foreclosure process, thereby harming both lenders and borrowers.”

American Banker, Jan. 7, 2019–Neil Haggerty (subscription)A new House subcommittee planned by Democrats to focus on diversity in banking and financial inclusion is getting high marks not just from public interest groups but also industry groups that say it could foster regulatory reforms needed to reach more customers.

HousingWire, Jan. 7, 2019–Ben LaneGoing forward, the Federal Housing Finance Agency will be led by Comptroller of the Currency Joseph Otting, who was picked by President Donald Trump to serve as acting director of the FHFA while Mark Calabria is awaiting Senate confirmation to replace Watt on a permanent basis.