On Friday, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to Congress outlining the Bureau’s plan for a revised Qualified Mortgage Standard.
Category: News and Trends
Zillow: Recovery Added $11.3 Trillion to U.S. Housing Value over Past Decade
Zillow, Seattle, said the total value of every home in the U.S. reached $33.6 trillion at the end of 2019, nearly as much as the GDP of the two largest global economies combined–the U.S. ($20.5 trillion) and China ($13.6 trillion).
Residential Remodeling Outlook: Slight Gains in 2020
National spending for improvements and repairs on owner-occupied homes is expected to rise “only modestly” this year, according to the Leading Indicator of Remodeling Activity by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, Cambridge, Mass.
The New State Battleground: Privacy & Security
On January 1, the California Consumer Privacy Act (CCPA) became law–a warning shot across the bow of every real estate finance company in America.
CoreLogic: With QM GSE ‘Patch’ Set to Expire, Impact Warrants Closer Investigation
In two blog posts last week, CoreLogic, Irvine, Calif., examined the relationship between loan pricing and loan performance in context of the coming expiration of the Consumer Financial Protection Bureau’s Qualified Mortgage “GSE Patch.” The blogs noted little distinction in loan delinquencies in certain rate spread categories, but noted closer investigation is warranted.
ATTOM: 2019 U.S. Foreclosure Activity at 15-Year Low
ATTOM Data Solutions, Irvine, Calif., released its Year-End 2019 U.S. Foreclosure Market Report, which showed foreclosure filings fell by 21 percent from 2018 and by 83 percent from a year ago.
New York Fed Warns of Financial System ‘Pre-Mortem’ Cyber Risk
In a new report, the Federal Reserve of New York warns a sustained cyber attack on the U.S. financial system could result in “significant spillover” and widespread disruption.
Stanley C. Middleman: Are Non-banks Really a Systemic Risk?
The Financial Stability Oversight Council issued its annual report in December where it identified the growth of nonbank mortgage origination and servicing as a risk to the U.S. financial system. But is this really correct?
CoreLogic: October Delinquency Rate Hits 20-Year Low
CoreLogic, Irvine, Calif., reported 3.7% of mortgages were in some stage of delinquency in October, an 0.4 percentage point decline from a year ago.
FHFA: Nearly 4.4 Million Homeowners Helped Since Conservatorship
The Federal Housing Finance Agency released its quarterly Foreclosure Prevention and Refinance Report, showing Fannie Mae and Freddie Mac completed 26,475 foreclosure prevention actions in the third quarter, bringing the total number of foreclosure prevention actions to 4.38 million since September 2008.