GlobeSt.com, July 31, 2023–Erik ShermanOne of the recurring themes of the Biden administration has been to address the needs of consumers who rent their living spaces. The White House released …
Category: Top National News
FHA’s Face-to-Face Servicing Requirement Could Be Dropped
Inside Mortgage Finance, July 31, 2023–Monica Hogan (subscription)HUD noted that over the years many lenders have moved away from a model of local origination and servicing offices to more centralized …
First-Time Buyers Need to Earn 13% More Than a Year Ago to Purchase Starter Home
Weekly Real Estate News, July 28, 2023–Phil HallWhat a difference a year makes–according to Redfin, a first-time homebuyer must earn roughly $64,500 per year to afford the typical “starter” home, …
Would New Bank Rules Shut Out First-Time Homebuyers?
Bloomberg, July 28, 2023A sweeping overhaul of bank capital rules proposed by regulators includes changes to requirements for residential mortgages that will likely inflame criticism that the measures push home-ownership …
PennyMac Profitable in 2Q Despite Servicing Rights Hit
National Mortgage News, July 28, 2023–Brad Finkelstein (subscription)PennyMac Financial Services has room to grow in both the correspondent and wholesale channels, even as both of those reported higher production on …
Shopping for Mortgages Can Save Your Buyers Money
Banker & Tradesman, July 30, 2023–Lew SichelmanAccording to a new report from the CFPB, all buyers, not just rookies, can save a significant amount of money if they shop for …
Fed Rate Hike Triggers Slight Increase in 30-Year Mortgage Rate
MPA, July 28, 2023-Candyd MendozaMortgage rates rose slightly after the Federal Reserve announced another interest rate hike during its latest policy meeting this week.https://www.mpamag.com/us/mortgage-industry/market-updates/fed-rate-hike-triggers-slight-increase-in-30-year-mortgage-rate/454367
Western Asset Mortgage Intends to Terminate Terra Property Merger
Reuters, July 28, 2023Western Asset Mortgage Capital Corporation on Thursday said it notified Terra Property Trust that it intends to terminate their merger agreement unless the company receives a revised proposal …
Gov. Kotek Signs Four Housing and Homelessness Bills
KBND, July 28, 2023-Heather RobertsGovernor Tina Kotek signed four bills Thursday she says address the state’s affordable housing and homelessness crisis. https://kbnd.com/kbnd-news/regional-news/699880
HELOCs on the Rise Amid High Interest Rates
KSLNewsRadio, July 28, 2023-Britt JohnsonSALT LAKE CITY — A new study by the Mortgage Bankers Association found that there was a rise in Home Equity Lines of Credit, HELOCs, in …