Wall Street Journal, May 16, 2023–Peter Grant (subscription)Property owners are starting to unload troubled office buildings at fire-sale prices, a sign that the office market slump is moving into a …
Category: Top National News
Majority of Americans Aren’t Sold on Mortgages — What’s Not To Love?
Yahoo!Finance, May 16, 2023–Jennifer TaylorWhen asked their level of agreement with the statement, “Mortgage is the best solution when buying a home,” 44% of Americans were neutral and 14% disagreed, …
Fintech Maxwell Acquires Mortgage Solutions Provider LenderSelect
HousingWire, May 16, 2023–Flávia Furlan NunesWells Fargo-backed mortgage fintech Maxwell struck a deal to acquire mortgage solutions provider LenderSelect Mortgage Group from Blue Ridge Bank. The deal, announced on Tuesday, …
Banks’ Mortgage Earnings Improve in First Quarter
Inside Mortgage Finance, May 16, 2023–John BancroftPublicly traded banks largely posted improvements to mortgage banking earnings in the first quarter of 2023 even as originations declined.https://www.insidemortgagefinance.com/articles/227826-banks-mortgage-earnings-improve-in-first-quarter?v=preview
Hill Democrats Urge Supreme Court to Preserve CFPB’s Funding Structure
American Banker, May 16, 2023–Kevin Wack (subscription)In a brief filed Monday with the U.S. Supreme Court, more than 140 current and former Democratic lawmakers defended the constitutionality of the Consumer …
The Return to the Office Has Stalled
Wall Street Journal, May 16, 2023–Peter Grant (subscription)When average city office occupancy rates at the start of the year surpassed 50% for the first time during the pandemic, many landlords …
Wells Fargo Agrees to Pay Shareholders $1 Billion to Settle Class-Action Suit
Wall Street Journal, May 15, 2023–Ben Eisen (subscription)Wells Fargo agreed to pay shareholders $1 billion to settle a class-action lawsuit that accused the bank of overstating its progress in cleaning …
Mortgage Delinquency Saw Second-Lowest Quarter on Record, Says MBA CEO Bob Broeksmit
CNBC, May 15, 2023Bob Broeksmit, CMB, Mortgage Bankers Association president and CEO, joins ‘Closing Bell Overtime’ to discuss the state of the housing market, new mortgage fees, and the ongoing …
MBA: Commercial and Multifamily Mortgage Activity to Decline This Year
WRE News.com, May 15, 2023–Phil HallThe Mortgage Bankers Association revised its forecast for the commercial and multifamily mortgage borrowing and lending environment and is now predicting this sector will fall …
NY Fed Finds Big Slowdown in New Mortgage Creation in First Quarter
Reuters, May 15, 2023–Michael S. DerbyAmid a modest gain in overall household borrowing levels during the first quarter, the level of those taking on new housing-related debt dropped sharply, the …