Wall Street Journal, May 19, 2023–Nick Timiraos (subscription)Federal Reserve Chair Jerome Powell said the stress in the banking system could mean the central bank won’t have to raise interest rates …
Category: Top National News
N.J. Man Stole $525K from Investors in Mortgage Fraud Scheme, Prosecutor Says
NJ.com, May 19, 2023–Anthony G. AttrinoGerrmaioud Chape, 43, of Rochelle Park, solicited investments by claiming he had financial interests in properties he did not own, according to Bergen County Prosecutor …
Jumbo Lending Drops in First Quarter
Inside Mortgage Finance, May 19, 2023–John BancroftMortgage originations declined across product categories in the first quarter of 2023, with the jumbo sector taking the biggest hit, according to a new …
FAIR Plan Seeks Nearly 50% Premium Hike from California Department of Insurance
Orange County Register, May 19, 2023–Jeff LazersonIs California on the brink of a homeowners’ insurance crisis? Insurance companies are bailing on tens of thousands of homeowners who have property in …
Hot Property: Can Anything Take the Heat Out of the Housing Market?
The Economist (podcast), May 19, 2023–Alice Fulwood, Tom Lee-Devlin, Mike BirdThe pandemic set off skyrocketing house prices, then the Fed began to rapidly increase interest rates, pushing up borrowing costs. …
IMBs See Improvement in Production Losses in 1Q
Mortgage Professional America, May 19, 2023–Candyd MendozaIMBs registered a net loss of $1,972 on each loan they originated in Q1 – an improvement from the reported loss of $2,812 per …
Too Many Counters Spoil the Pot
The Housing Scene (UExpress), May 19, 2023–Lew SichelmanParrying with a seller is “part of the game people play” in real estate, says retired agent Carol Williams in Wenatchee, Washington. “But …
In Today’s Housing Market, It’s Timing Over Location
Wall Street Journal, May 19, 2023–Joe Pinsker (subscription)Steep increases in home prices and mortgage rates have set buyers on divergent financial trajectories—even when they bought only a year or two …
Black Knight, ICE Claims Should Be Dismissed, FTC Argues
National Mortgage News, May 18, 2023–Brad Finkelstein (subscription)The Federal Trade Commission filed a single response to both Black Knight and Intercontinental Exchange, asking a judge to strike the constitutionality and …
Initial Job Claims Fell Last Week as Fraudulent Activity in Massachusetts Clouds Data
CNN Business, May 18, 2023–Alicia WallaceThe number of first-time claims for weekly jobless benefits fell last week to 242,000, down 22,000 from 264,000 the week before, according to data published …