Mortgages

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

A strong housing market prior to the pandemic and the subsequent coronavirus-related moratorium helped to pull foreclosure activity down to historic lows in the first half of 2020, though that could all change soon, according to Attom Data Solutions.

From affordable housing policy to GSE conservatorship, the next president will wield a heavy influence on mortgage and housing policies.

The coronavirus relief law allows forbearance plans for up to a year on federally backed mortgages, but House Democrats say homeowners have had difficulty getting relief.

The Detroit lender disclosed that the consumer bureau had sent a civil investigative demand to Rocket Homes Real Estate for potential violations of the Real Estate Settlement Procedures Act.

Strong growth in refinance volume following several weeks of so-so activity drove a 5.1% week-to-week increase in mortgage applications, according to the Mortgage Bankers Association.

A recent ruling declaring the Consumer Financial Protection Bureau’s structure unconstitutional signaled that a similar outcome awaits the Federal Housing Finance Agency. But the FHFA will argue in a new case that it does not deserve the same fate.

The number of loans going into coronavirus-related forbearance fell for the fourth consecutive week, as the growth rate plummeted 21 basis points between June 29 and July 5, according to the Mortgage Bankers Association.

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

However, those who aren't current bank customers need to have $1 million in a qualifying account.

A subprime-related settlement between the government and Deutsche Bank provided meaningful benefits to some U.S. consumers in need, according to a new report. But the author acknowledged that those gains could prove illusory for some consumers given the coronavirus crisis.

If it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings. It comes nearly three years after SoFi pulled the plug on an earlier effort to open an industrial bank.

Mortgage rates continued their slide, with the conforming 30-year fixed at its closest point ever to breaching the 3% mark, according to Freddie Mac.

Tricon American Homes launches the fifth securitization since mid-May secured by loans that finance institutional ownership and management of single-family residential rental homes.

The number of loans going into coronavirus-related forbearance dropped for the third consecutive week, as the growth rate fell 8 basis points between June 22 and June 28, according to the Mortgage Bankers Association.

The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.

Guarantee fees became the main source of revenue for government-sponsored enterprises during conservatorship, and reverting to a private stockholder model could create a need for more revenue.

While the multifamily loan forbearance rate is lower than the most pessimistic projections, Pat Jackson says borrowers are hardly out of the woods yet.

The mortgage insurer is receiving $528 million of coverage in the event of defaults in a $44 billion loan pool.

Legal experts say it is now more likely that the Supreme Court will strike down the single-director governance framework for Fannie Mae and Freddie Mac’s regulator.