Forbes, Mar. 31, 2023–John WakeA 2022 Organization for Economic Co-operation and Development study of 28 countries found the U.S. had the third lowest percentage of households that owned their homes …
Category: Top National News
Home Warranties Called ‘Lousy Deals’
The Housing Scene (UExpress), Mar. 31, 2023–Lew SichelmanIn a recent — and unusually puffy — puff piece in a pay-to-play real estate publication, two agents sung the praises of home …
Fannie Mae Squeezing Out Appraisers with New Automated Program
Orange County Register, Mar. 30, 2023–Jeff LazersonMortgage giant Fannie Mae is debuting a new automated appraisal product on April 15 that could put appraisers out of work. (MBA mention)https://www.ocregister.com/2023/03/30/fannie-mae-squeezing-out-appraisers-with-new-automated-program/
FHFA Watchdog Finds Lapses in Conservatorship Record-Keeping
National Mortgage News, Mar. 30, 2023–Bonnie Sinnock (subscription)The Federal Housing Finance Agency’s watchdog asked the regulator to improve its record keeping for decisions made as the government-sponsored enterprises’ conservator after …
Yellen Says U.S. Bank Rules May be Too Loose, Needs to be Re-Examined
Reuters, Mar. 30, 2023–David LawderTreasury Secretary Janet Yellen said on Thursday that banking regulation and supervisory rules need to be re-examined in the wake of the Silicon Valley Bank and …
Housing’s Scarce Supply Derails Buyers at Key Time for US Deals
Bloomberg, Mar. 30, 2023–Prashant Gopal, Jennifer Epstein, Paulina CacheroThe housing market is trying to find its footing as the key spring home-sales season kicks off in the US. For shoppers, …
Better.com SPAC Partner to Restate Financial Reports
National Mortgage News, Mar. 30, 2023–Andrew Martinez (subscription)The special purpose acquisition company set to merge with Better.com has reported a “material weakness” in its financial reporting, and said it will …
Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk
National Mortgage Professional, Mar. 30, 2023–David Krechevsky“A major disruption or failure of a large mortgage servicer really gives me a nightmare,” Chopra said Tuesday during CBA Live 2023, a conference …
Exodus From America’s Big Cities Slowed Last Year
Wall Street Journal, Mar. 30, 2023–Paul Overberg, John McCormick, Max Rust (subscription)Big cities lost fewer residents last year as more immigrants moved in, fewer people died and more babies were …
Average Long-Term Mortgage Rate at Lowest Level in Six Weeks
Associated Press, Mar. 30, 2023–Matt OttMortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell for the third straight week, to 6.32%, from 6.42% last …