National Mortgage Professional, Apr. 17, 2023–David KrechevskyThe lawsuit was filed in October 2022 by two couples who own a property in North Carolina. They claim Rocket fraudulently rejected their application …
Category: Top National News
Surprise: RMBS Issuance Stages a First Quarter Rally
Inside Mortgage Finance, Apr. 17, 2023–John BancroftIssuance of non-agency MBS staged a huge rebound in early 2023 on the heels of one of the sector’s weakest performances in recent times, …
Home Buyers Often Unaware of Assistance Programs, Fair Value Price
National Mortgage News, Apr. 14, 2023–Spencer Lee (subscription)A knowledge gap about the home buying process among many consumers contributed to more than half of them feeling unsure they had paid …
Weak Retail Sales, Manufacturing Output Data Point to Slowing U.S. Economy
Reuters, Apr. 14, 2023–Lucia MutikaniU.S. retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big-ticket items, suggesting that the economy …
JPMorgan, Citigroup and Wells Fargo Reap Gains From Rates Roiling Small Banks
Bloomberg, Apr. 14, 2023–Katherine DohertyThe three giant US banks, which kicked off the industry’s quarterly earnings reports Friday, are each finding ways to benefit from rate hikes that contributed to …
Supreme Court Decision A Blow To FTC, SEC
National Mortgage Professional, Apr. 14, 2023–David KrechevskyThe U.S. Supreme Court issued an opinion Friday that will allow businesses to sue the Federal Trade Commission and the Securities and Exchange Commission …
Today’s Homebuyers Have Their Mortgage Rate Tipping Point, and It’s Artificially Low
CNBC, Apr. 14, 2023–Diana OlickThe majority of potential homebuyers, 71%, say they will not accept a 30-year fixed mortgage rate over 5.5%, according to a survey done in March by …
GSEs Show Risk Aversion in 1Q Activity
Inside Mortgage Finance, Apr. 14, 2023–Namrata BhatiaThe government-sponsored enterprises purchased a relatively smaller proportion of home loans with lower credit scores in early 2023.https://www.insidemortgagefinance.com/articles/227541-gses-show-risk-aversion-in-1q-activity?v=preview
Tenants Face Numerous ‘Junk Fees’
The Housing Scene (UExpress), Apr. 14, 2023–Lew SichelmanWhen it comes to junk fees, nobody can hold a candle to landlords. Not even mortgage lenders.https://www.uexpress.com/home/housing-scene/2023/04/14
How Severe Is the Housing Shortage? It Depends on How You Define ‘Shortage’
Wall Street Journal, Apr. 14, 2023–Josh Zumbrun (subscription)While everyone seems to agree there’s a housing shortage, there’s little agreement on its magnitude.https://www.wsj.com/articles/how-severe-is-the-housing-shortage-it-depends-on-how-you-define-shortage-89cdbee7?mod=hp_featst_pos4