Fannie Mae, Freddie Mac forbearance rate drops below 5%

The forbearance rate for mortgages backed by Fannie Mae and Freddie Mac dropped to 4.94% in the first week of August, the first time it’s been below 5% since April, the Mortgage Bankers Association said in a report on Monday. The rate for mortgages backed by government-sponsored enterprises, or GSEs,

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California’s proposal for its own CFPB is back on track

California is planning to strengthen its regulation of financial companies by replicating on a state level what the Consumer Financial Protection Bureau was created to be. The state legislature has revived an idea Gov. Gavin Newsom first proposed in January to remake the California Department of Business Oversight into a

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Seattle’s eviction moratorium extended for the third time

Seattle Mayor Jenny Durkan extended the city’s eviction moratorium for the third time on Friday, giving residential and commercial renters a reprieve on payments through December. Seattle’s first moratorium was passed in March, originally set to last through May 15. Then it was extended through June 4, then again through

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