Reuters, July 22, 2024–Arasu Kannagi BasilRegional lender New York Community Bancorp said on Monday it had closed the sale of about $5.9 billion in mortgage warehouse loans to Wall Street …
Category: Top National News
The Worst May be Over For Homebuyers
CNN, July 23, 2024–Samantha DelouyaAfter the last few years of skyrocketing home prices and elevated mortgage rates, Americans have been feeling overwhelmingly dejected about their prospects of buying a home. …
Spread Widens Between Home Equity Rates at Banks, Credit Unions
Home Equity Lending News, July 22, 2024Average quarterly interest rates on credit unions’ home-equity lines of credit retreated, while HELOC rates at banks escalated — causing the spread between the …
Spread Widens Between Home Equity Rates at Banks, Credit Unions
Home Equity Lending News, July 22, 2024Average quarterly interest rates on credit unions’ home-equity lines of credit retreated, while HELOC rates at banks escalated — causing the spread between the …
American Borrowers Are on Shakier Ground. These Charts Show Why.
The Wall Street Journal, July 21, 2024-Gina Heeb and Kailyn RhoneThe American economy has held up well against higher inflation and interest rates. Many individual borrowers haven’t.Click here for more …
Why Are Young, Rich Americans Ditching House Ownership?
MPA, July 22, 2024-Noel Sales BarcelonaThe number of young American millionaires—millennials and Gen Zs—is on the rise. But, even if they have that seven-digit annual income, most of them are …
Deed Theft Criminalized in New York Budget Bill
National Mortgage News, July 22, 2024-Brad FinkelsteinNew York state has criminalized deed theft, with legislation written by Attorney General Letitia James making it into law after it was included in …
Rare New York Commercial-Mortgage Bond Raises $600 Million
The Wall Street Journal, July 22, 2024-Matt WirzStahl Real Estate is finalizing a roughly $600 million refinancing of its Manhattan office building at 277 Park Avenue, people familiar with the …
US Housing Market Suffers From “Mortgage Lock-in Gap”
MPA, July 22, 2024-Noel Sales BarcelonaAmerica’s housing market is now stuck with a “mortgage rate lock-in effect,” where homeowners are unwilling to sell their homes since interest rates remain high …
Depository Share of Mortgage Servicing Declines Again in 2Q
Inside Mortgage Finance, July 19, 2024–John BancroftBanks, thrifts and credit unions serviced $3.081 trillion of single-family loans held in agency mortgage-backed securities as of the end of June, down 1.7% …