State regulators and consumer advocates are pushing back against two proposals from the Office of the Comptroller of the Currency (OCC) that would expand banks’ authority over escrow accounts and assert that federal law preempts state rules that govern these accounts. In a joint letter, the Conference of State Bank Supervisors (CSBS) and the American…
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Mortgage lenders are seeing loan defects stabilize after several volatile years, but shifts in interest rates and loan volumes continue to expose weaknesses in quality control (QC), according to ACES Quality Management CEO Trevor Gauthier and chief operating officer Phil McCall. In an interview with HousingWire, Gauthier and McCall highlighted staffing cuts, refinance surges and…
Despite challenged market conditions for homebuilders nationwide, Palm Beach County, Fla.-based Akel Homes is betting that a newly-opened community’s top-tier amenities and relative affordability, in combination with South Florida’s strong active-adult demand, will navigate a narrowed path to traction. With a product aimed primarily at less interest-rate- and price-sensitive 55-plus buyers and a compelling “neighborhood-of-your-dreams”…
At first glance, Kevin Warsh’s nomination as the next Federal Reserve chair could be interpreted as a signal that benchmark interest rates may fall — potentially offering some relief on housing affordability as President Donald Trump and his administration have repeatedly pressured Jerome Powell and other Fed officials to move in that direction. Housing industry…