New York Times, June 26, 2023–Jeanna SmialekHome construction surged in May and prices have ticked up, even with interest rates at a 15-year high. The resilience has surprised some economists. …
Category: Top National News
California Promotes Expanded Availability of Mortgage Relief
National Mortgage News, June 23, 2023–Spencer Lee (subscription)Adjustments to area median-income levels will make more residents eligible after the state opened up the Homeowner Assistance Fund to households with pandemic-related …
The Zombie Mortgages Stalking American Homeowners
Wall Street Journal, June 23, 2023–PodcastLong-dormant mortgages are coming back to bite. Homeowners around the country are facing large bills and even foreclosure threats from investors who own their second …
Chopra: CFPB Wants To Simplify Servicing Rules
National Mortgage Professional, June 21, 2023–David KrechevskyConsumer Financial Protection Bureau Director Rohit Chopra says his agency intends to propose ways to “simplify and streamline mortgage servicing rules.” Chopra said the …
End of Forbearance Tests Mettle of Other Foreclosure Alternatives
National Mortgage News, June 22, 2023-Bonnie SinnockForbearance has reached the point where less than half of a percent of borrowers have it, and that means servicers will be increasingly reliant …
Good News for Tax Delinquents: The Supreme Court Just Made a Ruling in Their Favor
Yahoo News, June 20, 2023–Lew SichelmanEvery homeowner pays property taxes. At least, they should. But sometimes, people can’t — or won’t — pay the piper, and the tax collector comes …
Today’s Rate Hikes Threaten to Push Up Tomorrow’s Housing Costs
Wall Street Journal, June 20, 2023-Konrad Putzier (subscription)Central banks in the West are fighting inflation today at the risk of boosting inflation in the future.https://www.wsj.com/articles/todays-rate-hikes-threaten-to-push-up-tomorrows-housing-costs-166ccdaa
Planet Home Lending’s $10B MSR Buy Increases Portfolio by Over 10%
National Mortgage News, June 22, 2023–Brad Finkelstein (subscription)Planet Home Lending significantly increased the size of its mortgage servicing rights portfolio with a $10 billion bulk acquisition from Village Capital & …
FHFA Bi-Merge Credit Transition Challenges are ‘Immense,’ Housing Orgs Say
HousingWire, June 22, 2023–Chris ClowThe Federal Housing Finance Agency announced last year it is replacing the Classic FICO credit model used by Fannie Mae and Freddie Mac with the FICO …
Deed Theft Victims Get Foreclosure Protections in New York
National Mortgage News, June 21, 2023–Brad Finkelstein (subscription)The New York State Legislature has passed a bill that enhances civil culpability for those accused of deed theft, while adding protections against …