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 …
Category: Top National News
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 …
MBA Says a Recession Still Coming This Year
Credit Union, June 21, 2023–Michael OgdenThe Mortgage Bankers Association is sticking with its forecast for a recession this year, but Chief Economist Mike Fratantoni said Wednesday it will be mild …
Chopra: CFPB Wants To Simplify Servicing Rules
National Mortgage Professional, June 21, 2023–David Krechevsky (subscription)Consumer Financial Protection Bureau Director Rohit Chopra says his agency intends to propose ways to “simplify and streamline mortgage servicing rules.” Chopra said …
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 …
Will Homeowners’ Insurance Crisis Upend Home Sales in California?
Orange County Register, June 16, 2023–Jeff LazersonEvery buyer should be asking the seller for an insurance pre-approval or pre-qualification letter.https://www.ocregister.com/2023/06/15/will-homeowners-insurance-crisis-upend-home-sales-in-california/
CFPB Will Identify Ways to Simplify Mortgage Servicing Rules
HousingWire, June 15, 2023-Chris Clow (subscription)The Consumer Financial Protection Bureau (CFPB) will look for ways to streamline and simplify mortgage servicing rules in the months ahead following public comment on …
GAO Cites Potential Savings in Management of Federal Real Estate, Other Property
FEDWeek, June 15, 2023The GAO has added to its annual report on opportunities for potential savings two areas of long-running concern, management of federal real estate and of other property.https://www.fedweek.com/federal-managers-daily-report/gao-cites-potential-savings-in-management-of-federal-real-estate-other-property/
Streamlining Disaster Mortgage Forbearance Rules Eyed by CFPB
Bloomberg Law, June 15, 2023-Evan Weinberger (subscription)The Consumer Financial Protection Bureau plans to make changes to existing mortgage servicing rules, including potentially making pandemic-era foreclosure prevention tools permanent.https://news.bloomberglaw.com/banking-law/streamlining-disaster-mortgage-forbearance-rules-eyed-by-cfpb
20 Banks With the Most Subservicing in Q1
National Mortgage News, June 15, 2023 (Complimentary Access)The top five residential servicers in this list have a combined unpaid principal balance of more than $1.8 trillion at the end of …