National Mortgage News, Mar. 14, 2023–Brad Finkelstein (subscription)February’s MBA Mortgage Credit Availability Index is 100.1, down from 103.2 in January and 126 for the same month last year. The index …
Category: Top National News
Market Stability Tenuous as Rates Fall, Rise and Moody’s Issues Warning on Banks
Inside Mortgage Finance, Mar. 14, 2023–Paul MuoloFor a few hours Tuesday morning it seemed as though stability had returned to financial markets in the wake of Silicon Valley Bank’s collapse, …
Whole Foods, Other Grocery Stores Are Hot Property
Wall Street Journal, March 13, 2023–Kate King (subscription)Grocery stores have proved relatively resilient to both interest rates and inflation. Foot traffic at mid- and low-tier grocers in January topped 2019 …
CityLab Daily: What the SVB Collapse Means for Affordable Housing
Bloomberg, March 14, 2023–Sri Taylor (subscription)When Silicon Valley Bank shut down on Friday, it sent politicians and executives scrambling to contain shockwaves through California’s broader economy. The collapse caused massive …
Justice Department Intervenes in Suit Alleging Racial Bias in Mortgage Lending
The Guardian, Mar. 13, 2023–Edwin D. RiosIn response to a pending motion to dismiss the lawsuit by the mortgage lender, loanDepot, justice department civil rights attorneys filed a “statement of …
Silicon Valley Bank’s Failure is a Lesson for Depositories with MBS
National Mortgage News, Mar. 13, 2023–Bonnie Sinnock (subscription)While many things played a role in the bank’s downfall — including the withdrawal of its niche depositors, a social media post from …
U.S. Federal Home Loan Banks Continue to See ‘Heightened Demand’
Reuters, Mar. 13, 2023–Lindsay DunsmuirU.S. Federal Home Loan Banks are still seeing higher-than-usual demand for funds from banks and others as the fallout from the collapses of Silicon Valley Bank …
Fed’s Magical Accounting Might Save Banks but Doom Rate Increases
Wall Street Journal, Mar. 13, 2023–James Mackintosh (subscription)Here we go again. Just two days before the 15th anniversary of the Federal Reserve-backed rescue of Bear Stearns, the central bank is …
Cracks Emerging in U.S. Office Sector: Loan Defaults Fuel Concern of More Pain Ahead
UrbanLand, Mar. 13, 2023–Beth Mattson-TeigAccording to the Mortgage Bankers Association, office is the second largest category behind multifamily with roughly $750 billion in mortgages held by both bank and non-bank …
Efforts to Reach Historically Neglected Segments Grow
Mortgage Professional America, Mar. 13, 2023–Tony CantuThe Mortgage Bankers Association recently launched an initiative meant to reduce the racial homeownership gap and increase homeownership opportunities for minority borrowers. Through the …