HousingWire, Feb. 21, 2023–Connie Kim (subscription)The mortgage industry started 2023 with optimism due to an increase in housing activity. However, the celebrations may have to wait.https://www.housingwire.com/articles/the-uptick-in-housing-activity-will-be-temporary-fannie-mae/
Category: Top National News
FHA Gains MI Share in a Difficult 4Q22
Inside Mortgage Finance, Feb. 21, 2023–John Bancroft (subscription)The primary mortgage insurance business followed the rest of the market downward in the fourth quarter of 2022, but the FHA continued to …
More Sellers Become Open to Off-Market Deals as CRE Market Faces Liquidity Crunch
Wealth Management Real Estate, Feb. 21, 2023–Patricia KirkAs sellers become more concerned about marketing a property that fails to sell, it has opened up more opportunities for investors looking for …
MBA CREF23: Cautious Optimism in the Face of Headwinds
Trepp, Feb. 17, 2023–Vivek DenkanikotteAgainst a backdrop of headwinds in commercial real estate finance including dropping property values, fewer originations, and maturing loans amid rising interest rates, MBA CREF23 conference …
Office Landlord Defaults Are Escalating as Lenders Brace for More Distress
Wall Street Journal, Feb. 21, 2023–Peter Grant (subscription)The delinquency rate for office loans that back commercial-mortgage-backed securities remains low, but it is heading higher.https://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0
Why Texas-Based Frost Bank is Getting Back in the Mortgage Business After 20 Years Away
Yahoo Financa, Feb. 20, 2023–Dani RomeroAfter 20 years out of the residential mortgage business, San Antonio-based Frost Bank is getting back into the business after the housing market endured its …
Foreclosure Auctions to Rise 24% This Year
National Mortgage News, Feb. 20, 2023–Brad Finkelstein (subscription)The number of foreclosure auctions conducted is expected to increase 24% in 2023 from the previous year, representing a gradual rise as pandemic-related …
Nearly 30 Percent of Work Remains Remote as Workers Dig In
The Hill, Feb. 20, 2023–Daniel De ViseNearly 30 percent of all work happened at home in January, six times the rate in 2019, according to WFH Research, a data-collection project. …
El-Erian Says Fed’s 2% Inflation Target Would Crush US Economy
Bloomberg, Feb. 17, 2023–Victoria CavaliereThe Federal Reserve won’t be able to get US inflation down to its 2% target without “crushing the economy,” economist Mohamed El-Erian warned on Friday, but …
Ex-Employee Sues CrossCountry For Unpaid OT
National Mortgage Professional, Feb. 17, 2023–Mike SavinoPaul Lundholm, of New Jersey, said in a lawsuit filed this week in federal court that CrossCountry “knowingly misclassified loan salespeople as being exempt …