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Other News in Brief

August 17, 2020
Yemeng Yang
California’s plan to create a state-level CFPB back on the table; NCLC calls for prohibition of collection of all time-barred debts; Mr. Cooper nears settlement with the CFPB.
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July Brings An All-Time Record for GSE MBS Issuance

August 17, 2020
John Bancroft

Foreign Buying of U.S. Real Estate Down for Second Straight Year

August 14, 2020
Maria Volkova
Chinese buyers led the decline in foreign purchases of U.S. residential properties for the year ending March 31, according to NAR.
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Pandemic Hinders Growth in Home Equity Lending

August 14, 2020
Yemeng Yang
Despite holding sizable equity, homeowners are reluctant to tap it due to concerns tied to the pandemic, according to the MBA.
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Industry Relying on Vendors to Process Relief Requests

August 14, 2020
Maria Volkova
With regulations constantly changing and a new relief package in the offing, lenders are increasingly falling back on workflow automation vendors.
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TTAB Says Guaranteed Rate Cannot Trademark its Name

August 14, 2020
Maria Volkova
The Trademark Trial and Appeal Board ruled that “Guaranteed Rate” is “incapable of functioning” as a standalone mark.
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Berkadia Professionals Show Confidence in CRE Market

August 13, 2020
Yemeng Yang
But another study found income overstatement commonly existed in commercial CMBS underwriting between 2013 and 2019, contributing to the rapid deterioration during the pandemic.
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A Week After Its IPO, Rocket Comes Back Down to Earth

August 13, 2020
Paul Muolo

The one truism about mortgage banking that everyone knows: It’s a highly cyclical business that lives and dies on two central factors, interest rates and employment.


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CFPB Enforcement Actions on the Rise, Warn Attorneys

August 13, 2020
Yemeng Yang
The mortgage industry can expect more enforcement actions from the Consumer Financial Protection Bureau for the rest of the year, particularly related to fair lending issues, according to stakeholders.
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HUD Considering Changes to Downpayment Assistance Rule

August 13, 2020
Maria Volkova
HUD's delinquency report shows that 11.50% of loans in the seriously delinquent category involved DPA provided by relatives, while only 9.07% of those with DPA financed by government entities were in the seriously delinquent category.
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