National Mortgage News, June 15, 2023 (Complimentary Access)The top five residential servicers in this list have a combined unpaid principal balance of more than $1.8 trillion at the end of …
Category: Top National News
It Hasn’t Been This Hard for Homebuyers to Get a Mortgage Since 2013
Yahoo Finance, June 14, 2023–Gabriella Cruz-MartinezGetting a mortgage hasn’t been this tough in a decade, as lenders lose their appetite for riskier loans after this spring’s banking turmoil. (MBA mention)https://www.aol.com/finance/hasn-t-hard-homebuyers-mortgage-201830909.html
The Fed Rate Pause Won’t End Mortgage Misery
Wall Street Journal, June 14, 2023-Julia Carpenter (subscription)The good news about the Federal Reserve’s rate pause? It won’t make your financial life more miserable.https://www.wsj.com/articles/fed-interest-rate-your-money-59578a4b
Hassan Measure Would Restore Mortgage Insurance Deduction for Homeowners
NH Business Review, June 14, 2023-Amanda AndrewsU.S. Senators Maggie Hassan, D-NH, and Thom Tillis, R-NC, reintroduced a bill yesterday in the Senate that would restore an expired tax deduction for …
Housing Market Has a 6% Problem
National Mortgage Professional, June 14, 2023-David KrechevskyMore than nine of every 10 U.S. homeowners with mortgages have an interest rate below 6%, according to a report released Wednesday by Redfin.https://nationalmortgageprofessional.com/news/housing-market-has-6-problem
Mortgage Demand Surges as Interest Rates Ease Off Recent Highs
CNBC, June 14, 2023-Diana OlickMortgage rates pulled back for the second straight week last week, and it was enough to get both current and potential homeowners on the phone with …
Why Economists Say It’s a Near Certainty That Housing Inflation Will Soon Fall
CNBC, June 14, 2023-Greg IacurciHousing inflation has been stubbornly high for months, according to CPI data. But economists think it has peaked and is on the precipice of a reversal.https://www.cnbc.com/2023/06/14/housing-inflation-will-almost-surely-fall-soon-say-economists.html
Wells Fargo Lands Buyer for San Francisco Office Tower at Deeply Discounted Price
CoStar News June 9, 2023–Katie BurkeAfter nearly a year of gauging the health of the San Francisco office market, Wells Fargo is finalizing a deal to sell off downtown property …
Rescue Capital Lines Up for Opportunities on Multifamily Properties
Wealth Management Real Estate, June 14, 2023–Bendix AndersonOften positioned preferred equity, the capital is coming into play on properties that have shortfalls due to newly tightened capital markets.https://www.wealthmanagement.com/multifamily/rescue-capital-lines-opportunities-multifamily-properties?
The Non-QM Product Gaining Steam in a Low-Volume Market
American Banker, June 14, 2023–Andrew Martinez (subscription)Some lenders in search of business during the mortgage market’s holding pattern are turning attention to a niche product with millions of prospective borrowers. …