Inside Mortgage Finance, Aug. 17, 2023–Brandon Ivey (subscription)An effort by Cook County, Ill., to hold Bank of America accountable for vacant properties and lost tax revenue failed again Wednesday.https://www.insidemortgagefinance.com/articles/228658-cook-county-loses-appeal-of-lawsuit-against-bofa?
Category: Top National News
Why Fewer Credit Reports Could Mean More Complexity for Mortgages
National Mortgage News, Aug. 17, 2023–Bonnie Sinnock (subscription)The Federal Housing Finance Agency’s proposed timeline for a long-awaited update to mortgage credit reporting and scoring starts with what looks like a …
No, Small Banks Aren’t Holding the Bag on Half-Empty Towers
Bloomberg News, Aug. 14, 2023–Justin FoxContrary to a widespread figure, local and regional lenders don’t hold 70% of US commercial real estate debt. It’s closer to 32%.https://www.bloomberg.com/opinion/articles/2023-08-14/no-small-banks-aren-t-holding-the-bag-on-half-empty-office-towers?
Ginnie Issuance Slows in July on FHA Activity
Inside Mortgage Finance, Aug. 15, 2023–Monica Hogan (subscription)Issuance of Ginnie Mae mortgage-backed securities declined on a monthly basis in July, according to a new Inside FHA/VA Lending analysis. The downturn …
Intercontinental Exchange Moves Closer to Completing $12 Billion Black Knight Takeover
MPA, Aug. 14, 2023-Candyd MendozaIntercontinental Exchange (ICE) can now move ahead with its $12 billion takeover of mortgage software company Black Knight after the Federal Trade Commission dismissed a court …
U.S. Mortgage Delinquency Rates Fall to All-Time Low
Reuters, Aug. 10, 2023-Safiyah RiddleU.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most …
One More Reason Homeowners May Stay Put: A Big Rise in Home Equity
Barron’s, Aug. 10, 2023-Shaina MishkinThis year’s housing market has been difficult for prospective buyers—but prosperous for homeowners. Home price gains have resulted in near-record levels of home equity available for …
Bank Upheaval Drives Increase in Mortgage Payoff Fraud
National Mortgage News, August 11, 2023-Brad Finkelstein (subscription)Fraud attempts on mortgage payoffs increased by five times in the second quarter versus the prior three months, and based on July’s data, …
Mortgage Capital Proposal Could Weigh Heavier on Housing Than Banks
American Banker, Aug. 13, 2023–Kyle CampbellMany components of the capital rules that federal regulators proposed last month last month have elicited questions and concerns from in and around the banking …
Rates on Savings Accounts Are Higher Than Millions of Mortgages
Bloomberg News, Aug. 8, 2023-Claire Ballentine (subscription)Millions of Americans have a higher rate on their savings account than they’re paying for their mortgage.https://www.bloomberg.com/news/articles/2023-08-08/marcus-rate-vs-mortgage-rate-interest-on-high-yield-is-higher-than-home-loans#xj4y7vzkg