Banking and Lending

MBA: Forbearance Hits Lowest Level Yet

MBA: Forbearance Hits Lowest Level Yet

November 9, 2021 | Reprints | Unlock Link

The share of Fannie Mae and Freddie Mac loans in forbearance has reached the lowest level since the start of the pandemic, according to the Mortgage Bankers Association, but an increase in the number of borrowers exiting forbearance into loan modifications points to ongoing struggles in the recovery from the pandemic.

Quarles to Resign from Fed’s Board

By The Associated Press | November 8, 2021 | Reprints | Unlock Link

Randal Quarles announced Monday that he will resign from the Federal Reserve’s Board of Governors at the end of the year after completing a four-year term as its top bank regulator, opening up another vacancy on the Fed’s influential board for President Joe Biden to fill.

CFPB to Scrutinize Rental Screening Procedures

CFPB to Scrutinize Rental Screening Procedures

November 4, 2021 | Reprints | Unlock Link

Companies that provide background screening services for rental properties could be subject to greater scrutiny as federal agencies take actions to eliminate a name-matching practice that the Consumer Financial Protection Bureau said has undermined the housing market recovery.