Organization Root Tag

Ballooned home prices and a dearth of options deterred February 2021 sales, according to the National Association of Realtors

Although the Federal Housing Administration's insurance fund is "well above" its legal minimum, HUD Secretary Marcia Fudge said the mortgage agency has no plans to cut prices.

The full Senate could deadlock on Rohit Chopra’s nomination as the Banking Committee did. If that happens, Vice President Kamala Harris is expected to cast the decisive vote in his favor.

Efforts to improve representation in the workforce have to be measurable in order to avoid becoming an empty trend, according to the Mortgage Bankers Association’s chief financial officer and diversity & inclusion officer.

About 3.4 million renters believe themselves to be at risk of eviction, but when the moratorium ends, the actual number may be between 130,000 and 660,000, according to a Zillow report published Monday.

Sen. Pat Toomey, R-Pa., warned the regional Federal Reserve bank that its papers about environmental, social and corporate governance policies hurt its ability to stay neutral on partisan issues.

The development bodes well for outcomes on distressed loans backed by major government-related mortgage investors Fannie Mae and Freddie Mac.

The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.

But the 10-year Treasury yield began backing down after the weekend as investors reacted to turmoil in Europe.

Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019.

The 11-year-old company, which went public earlier this year, sold new junk-rated bonds on Tuesday to refinance debt and to pay its shareholders a $200 million special dividend, according to a copy of the debt documents

Volumes were at a record high in the final quarter of 2020 but lenders didn’t make quite as much since gains on loan sales to the secondary market fell.

The Consumer Financial Protection Bureau’s acting director has said he could rethink the pending Fair Debt Collection Practices Act rules, but a report released Monday indicated they’re moving ahead for the time being.

These trends, in addition to the increase in appraisal contingency waivers, could add risk to mortgage lender businesses.

Also: How 9.3 million renters could enter the purchase market, lessons from Flagstar’s data breach and a possible 15-year plan for Fannie and Freddie.

The complaint alleged the bank discriminated by refusing to make a mortgage loan after learning it would be used to finance a group home for disabled people.

The government-sponsored enterprise greenlit the use of CoreLogic and LoanCraft’s tools that validate self-employed borrowers’ incomes, and it certified Finicity, a firm that facilitates the equivalent for W-2 employees’ payroll data.

Relying on retained earnings alone, it would be until at least 2036, if not longer, before government control of Fannie Mae and Freddie Mae might end.

New assistance for renters may help but past efforts, while necessary, failed to get relief to renters in an expedient way, said David Brickman, who is now the head of a new agency lending platform backed by Barings and Meridian Capital.

The acquired platform, while remaining stand-alone, will have integrations with Black Knight's Empower loan origination system for mortgage lenders.