True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Fraud risk factors at closing increased almost 90% last quarter

A variety of risk factors could be contributing to the drastic increase in wire and title fraud risk factors in mortgage and real estate closings – for example, compliance issues and an increase in transaction data errors.

Real Estate

Renter households will be hardest hit by loss of CARES Act unemployment benefits

The loss of unemployment benefits could affect up to 30 million

Losing $600 a week in unemployment benefits will leave many renters filled with uncertainty when the Federal Pandemic Unemployment Compensation program ends later this week.

Without these benefits, households facing a severe housing burden will jump from about 3% to a whopping 41%, according to Zillow. Housing-burdened is defined as paying more than 30% of household income toward rent, while severely housing burdened is defined as paying more than 50% of household income toward rent.

New Orleans is likely to see the highest jump in housing burden, from its current rate of 4.7% up to an estimated 64%.

According to Zillow, households with high contact-intensity workers are more at-risk. High contact-intensity workers are those who require a high degree of face-to-face and close physical interaction in their jobs, like service and restaurant workers.

Currently, 31% of renter households with high contact-intensity workers are already housing burdened, while 13% are severely housing burdened.

There is also a racial component to this issue, as Black households are more likely than white households to have a majority of household income derived from high contact-intensity work.

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Mortgage forbearance drops to 4.36%, exits pick up steam

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3d rendering of a row of luxury townhouses along a street

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