National Mortgage News, Apr. 21, 2023–Andrew Martinez (subscription)LoanDepot last week reduced a line of credit with Dallas-based NexBank to $185 million after decreasing the facility to $200 million four months …
Category: Top National News
First Republic Earnings Report to Shed Light on Depth of Bank Crisis
Wall Street Journal, Apr. 23, 2023–Gina Heeb (subscription)First Republic has been at the center of a crisis of confidence in midsize and smaller U.S. banks spurred by the collapse of …
St. Paul Wants More ‘Missing Middle’ Housing. Will it Make the City a More Affordable Place to Live?
Minneapolis Post, Apr. 21, 2023–Kyle StokesFor now, St. Paul, Minnesota’s zoning code doesn’t allow duplexes, triplexes and fourplexes in most neighborhoods, limiting 72% of the city’s residential land to single-family …
CFPB Downplays Data Breach Report
WRE News.com, Apr. 21, 2023–Phil HallThe employee responsible for this action is no longer with the CFPB and the agency claimed there was no evidence that the information was shared …
Fannie Mae: Economic Slowdown Resumes, Modest Means Modest
National Mortgage Professional, Apr. 21, 2023–Ryan KingsleyDoubling down on March’s revised forecast for stronger first-quarter GDP growth, the latest projections by Fannie Mae’s Economic and Strategic Research group indicate an …
US Watchdogs Propose Tighter Oversight of Nonbanks Posing Systemic Risk
Bloomberg, Apr. 21, 2023–Viktoria Dendrinou, Allyson VersprilleThe top US financial regulators proposed strengthening tools for addressing threats to financial stability, including changes to Trump-era guidance that had made it difficult …
U.S. Bancorp May Sell Off Parts of Its Servicing Portfolio
National Mortgage News, Apr. 21, 2023–Bonnie Sinnock (subscription)U.S. Bank’s corporate parent is contemplating shedding some servicing as the company weighs strategies that would help improve its capital position.https://www.nationalmortgagenews.com/news/u-s-bancorp-may-sell-off-parts-of-its-servicing-portfolio
Buying Down Your Mortgage Rate: It’s Not Just One Way or the Other
Washington Post, Apr. 21, 2023–Michele Lerner“Buy-downs,” which reduce mortgage interest in exchange for upfront fees, quickly became popular for buyers, especially when sellers were willing to pay the upfront fees …
Mixed Trends in Deliveries to GSEs in First Quarter
Inside Mortgage Finance, Apr. 21, 2023–Dennis HollierGovernment-sponsored enterprise mortgage-backed security issuance declined by 20.5% in the first quarter of 2023 compared with the previous quarter, according to a new ranking …
Amazon HQ2 Was Thought Up Pre-Pandemic. But the World is Hybrid Now.
Washington Post, Apr. 20, 2023–Teo ArmusAmazon’s second headquarters was supposed to supercharge its new neighborhood in northern Virginia. But as the tech company requests its first subsidies from Virginia, construction …