Reuters, Feb. 24, 2023–Lucia MutikaniU.S. consumer spending increased by the most in nearly two years in January amid a surge in wage gains, while inflation accelerated, adding to financial market …
Category: Top National News
That 3% Mortgage Just Keeps Getting Better
Bloomberg, Feb. 24, 2023–Conor SenAs the Fed pushes interest rates higher, homeowners who secured ultra-cheap loans during the pandemic can invest in low-risk Treasuries that earn enough to significantly offset …
Commercial Real Estate Investors, Lenders Averse to Buying
Mortgage Professional America, Feb. 24, 2023–Tony CantuCBRE’s 2023 US Investor Intentions Survey released on Thursday reveals “subdued sentiment” among commercial real estate investors – with nearly 60% expected to purchase …
Redfin: Home Sale Prices Flatten, Demand Falls
National Mortgage Professional, Feb. 24, 2023–David KrechevskyFor the first time in at least eight years, the typical home isn’t selling for more than it would have a year earlier, according …
loanDepot Stiffed its Own LOs on Commissions, Rival Claims
National Mortgage News, Feb. 24, 2023–Andrew Martine (subscription)CrossCountry Mortgage alleges loanDepot “routinely and falsely” shortchanged its own originators’ commissions, its latest scathing counterclaim in a poaching and theft of trade …
Distressed Servicing Costs Normalizing after Two-Year Reprieve
National Mortgage News, Feb. 24, 2023–Bonnnie Sinnock (subscription)The expenses associated with nonperforming loans have returned to pre-pandemic levels, according to the latest numbers the Mortgage Bankers Association released at its …
Loan Comparison Sites Not All Fair
The Housing Scene (UExpress), Feb. 24, 2023–Lew SichelmanHomebuyers hunting for financing often turn to online mortgage comparison platforms to find the lowest rates available. But some may have been duped …
Banking Regulators Not Giving Ground on MSR Risk Weighting
Inside Mortgage Finance, Feb. 24, 2023–Sam ManasMortgage Bankers Association President Bob Broeksmit this week took aim at federal banking regulators for the 250% risk weighting they’ve placed on mortgage servicing …
Wells Lays Off Hundreds More Mortgage Bankers
NEXT, Feb. 24, 2023In a new round of layoffs, Wells Fargo shed “hundreds” of its remaining mortgage bankers and home loan consultants this week, according to multiple reports. Some of …
Average Monthly Mortgage Payments Near $2,000
MReport, Feb. 23, 2023–Kyle G. HorstUsing data from the Mortgage Bankers Association’s Purchase Applications Payment Index and the Weekly Applications Survey, MBA found that the national median mortgage payment applied …