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#mortgage

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Nonilex

I thought they were trying to save money 🤔

Under #Trump, the #Consumer #FinancialProtection Bureau #CFPB has dropped nearly a dozen enforcement cases brought during the #Biden admin, ending lawsuits against #banks & #lenders for a variety of financial practices that the #watchdog agency no longer considers #illegal.

But on Wed, the bureau went a step further: It is seeking to GIVE BACK $105k that a #mortgage lender paid to settle #racial #discrimination claims….

#law
nytimes.com/2025/03/26/busines

The New York Times · Consumer Bureau Seeks to Undo Settlement and Repay Mortgage LenderBy Stacy Cowley
Public
Nonilex

US #CentralBank holds #InterestRates steady

#TheFed said it will slow the pace of the drawdown of its balance sheet, as it faces challenges in assessing #market liquidity….

Stmnt: "The Cmte will continue reducing its holdings of #Treasury #securities & agency #debt & #mortgage‑backed securities. Beginning in April, the Cmte will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $25B to $5B."

#economy
reuters.com/world/us/fed-meeti

Public
blog.TO

Ontario sees another enormous jump in people not paying housing and other bills
As if we needed more facts and figures to remind us how bad Canada's economy is at present, a new report has offered a glimpse into just how many people nationwide have been unable to cover their major bills, with mortgage delinquency in particular at an all-time hig...
#economy #housing #debt #mortgage #Ontario #Toronto
blogto.com/real-estate-toronto

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CelloMom On Cars

"#ClimateChange is the reason millions of Americans have had their #HomeInsurance plans dropped, according to a report U.S. Senators reviewed at the final Budget Committee hearing of the legislative session.

“When insurance becomes unavailable, it can be impossible to get a #mortgage,“ Budget Committee Chairman Sen. Sheldon Whitehouse (D) Rhode Island said."

kcrg.com/2024/12/19/senate-rep

This is not much covered in mainstream news.

KCRG · Senate report: Climate change main reason for home insurance policy dropsBy Lacey Reeves
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CelloMom On Cars

#ClimateChange drives up insurance costs — and missed mortgage payments

"New study finds a $500 #insurance hike boosts #mortgage delinquencies by 20%, stressing housing impact of changing climate.

Because more than two-thirds of mortgages are backed by the federal government, it’s taxpayers who could be left holding the bag from rising climate-caused delinquencies."

lailluminator.com/2024/11/20/c

Louisiana Illuminator · Climate change drives up insurance costs — and missed mortgage payments • Louisiana IlluminatorPremium increases are a symptom of a broader insurance crisis plaguing real estate markets across America. Experts say it's fueled, in large part, by the disastrous effects of human-caused climate change. 
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CelloMom On Cars

"The couple hoped to buy another home. But after using the buyout money to pay off the rest of their #mortgage and with housing costs rising, they could not find anything they could afford.

They were forced to rent instead and found their new rent much higher than their old monthly mortgage payments. The couple now has no buffer for surprise expenses. At 66 and 73, they feel they’re starting over. "

whyy.org/articles/climate-chan

WHYY · Over 60? Climate change could be coming for your nest eggBy Sophia Schmidt
Public
Andrew Henry

`

Nationwide Building Society, the UK’s second-biggest mortgage lender, has already stopped lending for some homes that it finds are at risk, says Rob Stevens, the company’s head of property risk. His team uses postcode-level mapping to identify flood risk from a very early stage in the buying process, which means they can make a quick decision and relay that to a customer.

'
#insurance #mortgage
bloomberg.com/features/2024-uk

www.bloomberg.comBloomberg - Are you a robot?
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CelloMom On Cars

"#HomeInsurance is becoming unaffordable for a growing number of #Australian households as increased climate threats drive up their premiums, potentially putting billions of dollars in #mortgage loans at risk, a report said on Monday.

As of March 2024, 15% of Australian households were experiencing home insurance affordability stress, which is defined as having premiums that cost more than four weeks' of their incomes, the report from the Actuaries Institute found."

reuters.com/world/asia-pacific

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CelloMom On Cars

"Higher premiums are also just the tip of the iceberg of the financial risks of #ClimateChange. When state-run, last-resort insurance programs become overburdened, taxpayers end up footing the bill. A dwindling tax base and a foreclosure crisis in vulnerable areas could create risks for regional banks and spread risk to the broader economy. Without insurance, there is no #mortgage market."

pressdemocrat.com/article/opin

The Santa Rosa Press Democrat · Fabian: To understand climate change, all you need is an insurance policyBy CARLY FABIAN
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CelloMom On Cars

The next #mortgage crisis is brought by #ClimateChange

"Properties become increasingly expensive to insure and then they become #uninsurable.

And once they become uninsurable, they become unmortgageable. And once buyers can’t get mortgages for those properties, the values crash — because you’ll now only have cash buyers on the demand side."

thehill.com/newsletters/sustai
#HomeInsurance

Public
symbology.

I apparently did not do an #introduction post. huh.

Father, husband. Dabbles in fine #art #photography & a passionate #wine & #whisky lover. #Linux #gamer and enthusiast. May love #dogs more than people.

AKA: Fannon451, _brad_stover on Twitter, Mister Touchshriek on Twitch.

Credit Analyst at Legacy #Mortgage Group in #YEG

Random hashtags of my interests: #Edmonton #beagle
#worldofwarcraft #dwarffortress #DavidBowie #startrek #lotr

Trying to remember what I'm interested in is hard.

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