Origination

The largest U.S. shopping center became delinquent on its debt last year after its owner Triple Five Group began skipping mortgage payments, citing hardships from the COVID-19 pandemic.

Mortgage applications decreased 4.2% over the final two weeks of 2020, but the strong demand for home buying throughout most of the year should continue, according to the Mortgage Bankers Association.

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.

The transaction was led by existing investor Insight Partners, with TVC Capital as a minority partner.

The complaint unsealed Monday alleges three individuals and several companies they owned or controlled engaged in False Claims Act violations involving short sales of properties that had Federal Housing Administration-insured mortgages.

As housing and lending companies try to eradicate racism and bias from their industries, automated valuation tools could help reach that goal, according to the American Enterprise Institute.

The company had canceled its planned pricing of the deal at the end of October over stock market volatility.

While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.

The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden administration to make further changes.

The Fed’s decision to lower rates amid a pandemic proved serendipitous for home lenders who benefited from a refinance boom last year, but they may need to make adjustments in the coming months.