National Mortgage News, Mar. 7, 2023–Bonnie Sinnock (subscription)Rocket Mortgage is offering $3,000 in down payment funds through Freddie Mac’s BorrowSmart Access special-purpose credit program, which is part of government-sponsored enterprise …
Category: Top National News
In a Tight Housing Market, Millennials and Boomers are in Competition
NPR, March 7, 2023–Arezou RezvaniSwing by an open house for a mid-size home these days, and you’d probably see buyers from two different generations sizing each other up. With so …
ICE, Black Knight Revise Terms, Agree to Sell Empower
National Mortgage News, March 7, 2023–Brad Finkelstein (subscription)As many deal observers expected, Black Knight is divesting its Empower loan origination system in order to win regulatory approval for the acquisition …
CMG Adds to its Retail Network, Buys MSRs
Inside Mortgage Finance, Mar. 7, 2023–Paul MuoloCMG Mortgage, San Ramon, CA, Monday announced it had purchased the retail branch network of Homebridge Financial Services, Iselin, NJ, for an undisclosed sum. …
Where Are We Going? ‘Follow The Money’
National Mortgage Professional, Mar. 7, 2023–Lew SichelmanThe mortgage sector would, indeed, do well to follow the money — and, more specifically — the migration trends taking place across the land. …
Hotel-Branded Residences Thrive During Housing Market Downturn
Wall Street Journal, Mar. 6, 2023–Kate King (subscription)Higher mortgage rates and recession fears have upended the high-end housing market, but buyers are still paying up for residences affiliated with luxury …
How Private Mortgage Insurers Plan to Weather 2023 Downturn
National Mortgage News, March 6, 2023–Brad Finkelstein (subscription)The active private mortgage insurers have sufficient capital on hand to meet the requirements to keep their counterparty status with Fannie Mae and …
Older Mortgage Applicants are More Likely to be Rejected, Study Finds
Yahoo Finance, March 6, 2023–Gabriella Cruz-MartinezThe older you get, the weaker your chances are at getting approved for a mortgage or refinance, according to a new study from the Center …
American Dream Mall Owes NJ Town $8 Million, Lawsuit Says
Bloomberg, Mar. 6, 2023–Martin Z. BraunA New Jersey town sued the American Dream mall and entertainment complex over its refusal to make about $7.5 million in property tax-like payments and …
NAHB: 49% Of U.S. Households Can’t Afford A $250K Home
National Mortgage Professional, Mar. 6, 2023–David KrechevskyOf the 132.5 million households nationwide, nearly 49% are unable to afford a house priced at $250,000.That’s according to the National Association of Home …