Foreclosure/Bankruptcy

New research from FHLBank San Francisco and the Urban Institute investigates ways to reduce mortgage default risk by utilizing mortgage reserve accounts that could help homeowners overcome temporary hardships, which would mainly benefit Black families, who are more than twice as likely as white families to lose their home to foreclosure.

Among mortgage originations exceeding $1 million in April 2023, adjustable-rate mortgages comprised nearly 50% of the dollar volume, representing a six percentage-point increase from a year earlier.

The Five Star Institute has joined forces with the National REO Brokers Association to dissect how to prepare for an increase in REO volumes, with topics ranging from streamlining operations to managing compliance and public perception.

"We are starting to see some patterns that show where the U.S. housing market is cooling off and how it's hitting homeowners based on some key metrics. It looks so far—and it's important to stress, so far—to be having more impact in places with the highest housing costs and less impact elsewhere," said Rob Barber, CEO at ATTOM.

Effective July 31, the Texas-based bank will shut down its mortgage origination business, and shift its focus towards full-service banking and mortgage servicing options.

An upcoming Five Star Institute Webinar will delve into the landscape of the mortgage industry over the next 12 months, including a possible rise in home equity loans, a decrease in savings, increased credit card usage, and overall consumer weariness, among other topics.

The Spring Legal League Summit, hosted by Five Star Institute, featured two days of classes, discussions, and networking, followed by a trip to a Texas Rangers Game.

“Our government invited us and others to step up, and we did,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase.

At its inaugural Financial Inclusion Forum, TransUnion had a group of executives discuss ways to meet and engage consumers where they are on their financial journey, and to help create and deliver equitable products and services for them.

An upcoming Senate Banking Committee hearing will discuss the state of the nation’s banking system, and how the nation’s bank regulators have resolved these institutional failures.