HousingWire, Apr. 7, 2023–Flávia Furlan Nunes, James KleimannShrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store, the company …
Category: Top National News
MBA: Independent Mortgage Banks Got Walloped in 2022
MortgageOrb, Apr. 7, 2023–Michael BatesThe Mortgage Bankers Association’s Annual Mortgage Bankers Performance Report shows that independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $301 on …
A Soon-to-be-Enacted Bill Could Transform Housing in California
Greater Greater Washington, Apr. 7, 2023–Jeff WoodIn 2022, the California legislature passed AB 2011, the Affordable Housing and High Road Jobs Act of 2022. Behind the scenes, Peter Calthorpe, an …
Ann Arbor’s Homepoint Mortgage Business Sold to The Loan Store
The Detroit News, Apr. 7, 2023–Breana NobleAnn Arbor, Mich.-based Home Point Capital announced Friday it will sell its wholesale mortgage originations channel–the bulk of its business–to The Loan Store Inc., …
Affordable Housing Borrowers Are Available Capital With Stricter Terms
The Crittenden Report, Apr. 7, 2023–Sara HavlenaDespite market volatility, including rising rates, the threat of a recession and recent bank failures, affordable housing is one sector that should still be …
Agency MBS Issuance Slides Further in First Quarter
Inside Mortgage Finance, Apr. 7, 2023–John BancroftProduction of agency mortgage-backed securities fell to its lowest level in nine years in the first quarter of 2023, according to a new ranking …
Odd Lots: Inflation, Failure, Tip
The Housing Scene (UExpress), Apr. 7, 2023–Lew SichelmanGuess what sector is the largest contributor to inflation these days? Yup: housing.https://www.uexpress.com/home/housing-scene/2023/04/07
Declines in Loan Values Are Widespread Among Banks
Wall Street Journal, Apr. 7, 2023–Jonathan Weil (subscription)Lenders could face pressure on earnings or liquidity, or to pay higher rates for deposits.https://www.wsj.com/articles/declines-in-loan-values-are-widespread-among-banks-c3ee622f?mod=hp_lead_pos3
Court Reviews LO Licensing Decision from State Banking Department
National Mortgage News, Apr. 6, 2023–Bonnie Sinnock (subscription)The case, 1st Alliance Lending v. State of Connecticut Department of Banking et al., challenges the latter’s allegations that the company gave tasks …
Need a Down Payment? 300-Plus Assistance Programs Available in California
Orange County Register, Apr. 6, 2023–Jeff LazersonThere are at least 311 down payment assistance programs for California homebuyers among at least 2,300 available nationwide, according to Rob Chrane, founder and …