Lending continues to be intertwined with legal and compliance issues. Here’s a story from overnight that is catching a lot of attention: “Equifax stock falls after saying it received a CID from the CFPB.” The Federal Trade Commission (FTC) agreed to drop its challenge to Intercontinental Exchange Inc.’s (ICE) proposed deal with Black Knight Inc. in a joint stipulation that allows them to work toward a settlement. Lender ToolKit is suing Celebrity Home Loans and MLD. and Meanwhile, lenders and vendors are doing what they can to increase business and tap into new markets, and with that in mind National MI is sponsoring a weekly podcast beginning today focused on offering mortgages to people in their 20s and 30s (Mortgages with Millennials). (Today’s podcast can be found here and is sponsored by SimpleNexus, an nCino Company, developer of mortgage technology uniting the people, systems, and stages of the mortgage process into one seamless, end-to-end sol
“Yesterday I completed a chore I’ve been putting off for four months. It took me 20 minutes. I will learn nothing from this.” That sums up a lot of my tasks. But that was then, and today I head to Austin, the capital of Texas and where they just voted to approve a wide-ranging property tax reduction bill. Which is good, as Texas residents will need the money for air conditioning in the 106-degree heat forecast for today. What if you’re the owner of an office building with few tenants, absorbing that AC cost yourself? Say what you will about slow times in residential lending, commercial lenders are very anxious. Rumor has it there is 1 billion (with a “b”) square feet of empty space. That’s 4.44 million 15x15 square foot offices. Word has it that landlords are very concerned about when the leases are due in commercial real estate around the nation, and world, as some percentage of people have shifted from office to WFH (working from home)
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