If the Biden administration does not defend the 2020 disparate-impact rule, NAMIC plans to ask the court to set an argument date for its summary judgment motion, according to Ballard Spahr.

In a 17-7 bipartisan vote, the Senate Banking Committee approved Marcia Fudge’s nomination as HUD secretary. The Biden nominee drew criticism from Republican lawmakers over her lack of housing industry experience.

Susquehanna International Group dismissed the private MI industry’s concerns over a potential FHA cut as “unwarranted” and not aligned “with the underlying math.”

Both MBA and Black Knight reported declines in forbearance across all investor types. However, MBA economist Mike Fratantoni warned that the job market is still not at pre-pandemic levels.

Still, industry attorneys argue the legislation is cumbersome and creates additional hurdles for mortgagees foreclosing on delinquent HECMs in New York state.

More than 300 industry groups in a letter to the top four congressional leaders asked for $25 billion in direct assistance to homeowners with COVID hardships.

The U.S. District Court of Chicago indicted four individuals for participating in a fraud scheme to obtain mortgage loans totaling at least $3 million.

FHA issues three temporary waivers to help mitigate the impact of the pandemic on borrowers.