Sunday , 29 November 2020

Around The Web

Homeownership for Black Americans Comes With Fewer Benefits

Owning a home is a tool for building wealth and stability, but a report from researchers at the Urban Institute indicates that is less applicable to people of color. Not only do Black Americans face more barriers to homeownership, but they also accrue less wealth than their White counterparts when they become homeowners. And the … The post Homeownership for …

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Majority Considering Moving Due to Pandemic; Delinquencies Remain Elevated; Rates Move Up

A recent survey by Lending Tree found that nearly half of Americans are thinking about moving in the not-to-distant future and it appears that the COVID-19 pandemic may be at least part of their motivation. Crissinda Ponder writes that the health crisis has affected nearly every aspect of daily life, and with 11 million Americans unemployed, residents make an exodus …

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Janet Yellen Reportedly is Biden’s Treasury Secretary Pick

President-Elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen as his Treasury Secretary, several news outlets report. She would be the first woman to head the U.S. Treasury—that is, seven years after she was the first woman to lead the Fed. Politico reports that “according to people familiar with the decision, [this] historic … The post Janet Yellen …

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Fannie Mae Recognized as a Top Company for Inclusion

Fannie Mae was named a top company for inclusion by the National Business Inclusion Consortium, a coalition formed by the National LGBT Chamber of Commerce, according to Fannie Mae. This year’s fifth annual “Best-of-the-Best Corporations for Inclusion” cohort features corporations that across all communities in America are all in on diversity and inclusion. Internal, external, … The post Fannie Mae …

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Loan Performance Report Reveals ‘Good News’

According to a representative from Black Knight, their data analysts’ monthly loan-performance report contains “pretty much good news all around, though most of it is the slow-and-steady-wins-the-race variety.” In summary, mortgage delinquencies continued to improve in October, falling another 3.3% from September to reach the lowest level since March (6.44%). Month-over-month, there are 105,000 fewer … The post Loan Performance …

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Revisiting the Regulatory Framework for Nonbank Mortgage Lenders

Federal Reserve Governor Michelle Bowman last week suggested revisiting the regulatory framework that defines how nonbank mortgage lenders operate. Speaking last week via webcast to the 2020 Financial Stability Conference hosted by the Federal Reserve Bank of Cleveland and the Office of Financial Research, Bowman noted that the U.S. economy and financial services system came … The post Revisiting the …

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DS5: Anticipating Bankruptcies in 2021 and Beyond

In this week’s DS5: Inside the Industry, BK Global CEO Brad Geisen discusses the challenges his industry might face in the coming years including anticipated unemployment and bankruptcies and the potential impact on homeownership. “Bankruptcy is extremely complicated, and for servicers that can be problematic, because a servicer likes to have a structure,” Geisen said. There … The post DS5: Anticipating …

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