Inman Connect
“The bureau is unnecessarily inserting confusion.”
That’s the feedback one industry leader had on a new rule being proposed by the Consumer Financial Protection Bureau (CFPB) that would change the rules of the game for mortgage servicers. With its new proposed rule, servicers would have no choice but to prevent foreclosures in 2021.
“The nation has endured more than a year of a deadly pandemic and a punishing economic crisis,” CFPB Acting Director Dave Uejio said. “We must not lose sight of the dangers so many consumers still face. Millions of families are at risk of losing their homes to foreclosure in the coming months, even as the country opens back up.”
Posted on 8382
Bimini Capital Management, Inc. (OTCBB:BMNM), (“Bimini Capital,” “Bimini,” or the “Company”) today announced results of operations for the three month period ended December 31, 2020.
Fourth Quarter 2020 Highlights
Income tax benefit of $10.7 million, or $0.92 per common share
Book value per share of $2.97
Company to discuss results on Friday, March 12, 2021, at 10:00 AM ET
Management Commentary
Commenting on the fourth quarter results, Robert E. Cauley, Chairman and Chief Executive Officer, said, “As we sit here today, it is very sobering when we reflect on how much has transpired between March of 2020 and March of 2021. The month that seemed like it would never end finally did, and there were many dark days in between, but we clearly seem to be emerging from this dark episode that none of us will ever forget. The immediate impact of the turmoil in the financial markets last March was
Mortgage interest rates rise: The difference each month between 3% and 4%
Updated Mar 10, 2021;
U.S. long-term mortgage rates ticked up this week but remain near historic lows. The Federal Home Loan Mortgage Corporation (Freddie Mac) reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan increased to 3.02% from 2.97% the previous week.
In comparison, the rate was 3.65% last March.
The lowest interest rate was 2.65% the second week of January 2021, and mortgage rates have risen by more than 30 basis points since then, according to Freddie Mac.
The average rate on 15-year fixed-rate loans, popular among those seeking to refinance their mortgages, rose to 2.34% from 2.21% last week.
VERO BEACH, Fla. (BUSINESS WIRE) Bimini Capital Management, Inc. (OTCBB:BMNM) ("Bimini” or the "Company"), today announced that it will release results for the fourth quarter of 2020 following the close of trading on the New York Stock Exchange on Thursday, March 11, 2021. Earnings Conference Call Details An earnings conference call and live audio webcast will