A curated collection of links to news, analysis, trends, ideas and views from elsewhere.
Yahoo, July 9, 2024, Lack Of Affordable Housing In Myrtle Beach Costing Healthcare Jobs, Hospital Executive Says Myrtle Beach’s scarce affordable housing inventory has driven some potential McLeod Health employees out of the market, a company vice president told city leaders on Tuesday. “We haven’t had a hard time recruiting, [but] one thing that we […]
CFPB, July 10, 2024, Streamlining Mortgage Servicing for Borrowers Experiencing Payment Difficulties (Regulation X) The Consumer Financial Protection Bureau (Bureau or CFPB) is proposing a rule that would amend regulations originally issued in 2013 regarding the responsibilities of mortgage servicers. The proposed amendments would streamline existing requirements when borrowers seek payment assistance in times of
CFPB, July 10, 2024, CFPB Proposes Rules to Help Homeowners Avoid Foreclosure The Consumer Financial Protection Bureau (CFPB) today proposed new rules to make it easier for homeowners to get help when they are struggling to pay their mortgage. The proposal, if finalized, would require mortgage servicers to focus on helping borrowers, not foreclosing, when
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wtop, July 9, 2024, ‘We’ve Got To Do Something’: Montgomery Co. Takes Closer Look At Zoning In Single Family Neighborhoods The impact of housing shortages across the U.S. has jurisdictions in the D.C. area taking a look at tossing restrictions on multifamily homes in neighborhoods previously zoned for single-family properties. In Alexandria, Virginia, that resulted
American Banker, July 11, 2024, Appeals Court Delivers Big Win To CFPB In Townstone Redlining Case A federal appeals court ruled that the Consumer Financial Protection Bureau has broad authority to discourage discrimination to combat redlining, delivering a major victory to the bureau in a contentious case, CFPB v. Townstone Financial, against a Chicago mortgage lender.
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Federal Reserve, July 12, 2024, Agencies Release List Of Distressed Or Underserved Nonmetropolitan Middle-Income Geographies Federal bank regulatory agencies today released the 2024 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act (CRA) credit. Under the CRA, the agencies assess a bank’s record of meeting the
The Observer, July 23, 2024, For ‘Unbanked’ Californians, Cash Is Still King In An Increasingly Cashless Society OPINION (CALMATTERS) – As a mother of six who works in a Los Angeles Jack-in-the-Box, Anneisha Williams can’t afford to pay steep bank fees. For her, every dollar matters, and overdraft fees have left her frustrated and fed
NPR, July 22, 2024, As New Tech Threatens Jobs, Silicon Valley Promotes No-Strings Cash Aid The rise of artificial intelligence has stoked fears that such technological advances will wipe out millions of jobs. Silicon Valley entrepreneurs have thought about that too, and they’ve long pushed an idea to soften the blow: cash aid from the government, no
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Frontline, July 23, 2024, Where Are the ‘Two American Families’ 30-Plus Years After We Started Filming Them? Even when Terry Neumann isn’t loading and unloading trailers at the Milwaukee-area warehouse where she works the 4 p.m. to midnight shift, her body aches. “With all of my physical jobs, my joints, my knees, shoulders, the foot
HUD, July 11, 2024, HUD Reaches Groundbreaking Settlement With The Appraisal Foundation To Ensure Equal Opportunity In The Appraisal Profession The U.S. Department of Housing and Urban Development (HUD) announced today that it has entered into an historic Conciliation Agreement with The Appraisal Foundation (TAF), an organization responsible for setting standards and qualifications for real
CFPB, July 24, 2024, CFPB Warns Against Intimidation of Whistleblowers The Consumer Financial Protection Bureau (CFPB) today issued a circular to law enforcement agencies and regulators explaining how companies may be breaking the law by requiring employees to sign broad nondisclosure agreements that could deter whistleblowing. The circular explains how imposing sweeping nondisclosure agreements that do not
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The Wall Street Journal, July 23, 2024, Sky-High Housing Priced Workers Out of Jackson. Then A Landslide Cut Them Off Cassie and Mark Vandeventer were used to commuting around 45 minutes each way from their home in worker-populated Driggs, Idaho, to their jobs across the state line in pricey Jackson, Wyo. It was an easy
The New York Times, July 24, 2024, Real Estate Crisis? Small Banks Say Their Loans Are Fine. Small banks are feeling misunderstood. They see themselves as integral to neighborhoods across the country: backers of local dry cleaners, dentists and sandwich shops. Investors worry that those banks could be a crisis waiting to happen. The pride
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OFR, July 24, 2024, What’s at Stake? Understanding The Role Of Home Equity In Flood Insurance Demand The consequences of climate change will depend on homeowners’ incentives to man-age their risk. We show that low home equity distorts borrowers’ demand for flood insurance by shifting their risk to lenders and federally backed mortgage purchasers. To
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ARLnow, July 24, 2024, Affordable Housing Complexes Near Rosslyn And In Long Branch Creek Designated As ‘Revitalization Areas’ The county has designated a pair of affordable housing complexes as “revitalization areas” in an effort to help them secure more funding. The new designation, which the Arlington County Board approved on Monday, affects renovation projects at Arna
