Forbes, Sept. 15, 2017–Lara O’KeefeLast week’s Equifax data breach shed light once again on the possible ramifications of hacks in the commercial real estate industry if companies do not invest in cybersecurity tech.
Category: Top National News
Housing Effort Poses Test for FEMA After Harvey
Wall Street Journal, Sept. 17, 2017–Dan Frosch, Laura Kusisto (subscription)The effort to find both temporary and long-term housing for the tens of thousands of people displaced by Harvey is already one of the largest missions the Federal Emergency Management Agency has undertaken.
Homes Built to Stricter Standards Fared Better in Storm
Wall Street Journal, Sept. 16, 2017–Laura Kusisto, Arian Campo-Flores (subscription)As homeowners in Florida begin to take stock of the damage from Irma, one pattern is beginning to emerge: homes that were built to the stricter building codes seem to have fared better.
Freddie Eases Appraisal, Condo & Jumbo Policies
Mortgage Daily, Sept. 15, 2017Freddie Mac is now allowing unlicensed and trainee appraisers to perform and sign an appraisal report in accordance with state law. They can also perform a completion report as long as a supervisory appraiser signs it.
One House, 22 Floods: Repeated Claims Drain Federal Insurance Program
Wall Street Journal, Sept. 15, 2017–Ruth Simon (subscription)Brian Harmon had just finished spending over $300,000 to fix his home in Kingwood, Texas, when Hurricane Harvey sent floodwaters “completely over the roof.” It has flooded 22 times since 1979, making it one of the most flood-damaged properties in the country.
The Fed, a Decade After the Crisis, Is About to Embark on the Great Unwinding
Wall Street Journal, Sept. 18, 2017–Nick Timiraos (subscription)The Federal Reserve resorted to a series of shock-and-awe stimulus campaigns to stabilize the economy after the financial crisis. Now the Fed is preparing the final move to unwind its support–and it wants to be as boring as possible.
Equifax, Wells Fargo Fiascos Prove Housing Needs Immediate Reform
HousingWire, Sept. 18, 2017–Jacob GaffneyHousingWire Editor in Chief says latest issues must spur Congress to take action on a number of housing finance fronts.
CFPB Settles With Owners of Wall Street’s Worst Student Debt
Bloomberg, Sept. 18, 2017–Shahien NasiripourThe Consumer Financial Protection Bureau had accused the National Collegiate Student Loan Trusts of illegally collecting from thousands of distressed borrowers using faulty paperwork, back-dated documents and other deceptive or unfair means.
Affordability in Question: The National Flood Insurance Program Needs $1.4 Billion More to Function
HousingWire, Sept. 5, 2017–Brena SwansonAs the expiration date of the National Flood Insurance Program draws nearer, the Congressional Budget Office, a nonpartisan analysis for the U.S. Congress, calculated that the program has an expected one-year shortfall of $1.4 billion.
Compliance Services for HMDA, ATR, Day 1 Certainty
Mortgage Daily, Sept. 5, 2017–Sam GarciaNew and upgraded offerings recently unveiled by service providers promise to help lenders comply with the Home Mortgage Disclosure Act, the Ability to Repay rule and Fannie Mae’s Day 1 Certainty initiative.