National Mortgage News, Feb. 15, 2023–Bonnie Sinnock (subscription)Whistleblower allegations of False Claims Act violations in a foreclosure prevention program dating back to 2009 are progressing following a U.S. District Court’s …
Category: Top National News
Are Shaky Nonbanks Putting Ginnie Mae at Risk?
National Mortgage News, Feb. 16, 2023–Maria Volkova (subscription)Some experts warn that nonbank home lenders could falter as interest rates rise and the housing market slows. That could have a significant …
U.S. Retail Sales Roar Back; Manufacturing Shows Improvement
Reuters, Feb. 15, 2023–Lucia MutikaniU.S. retail sales increased by the most in nearly two years in January after two straight monthly declines as Americans boosted purchases of motor vehicles and …
Starwood Single-Family Rental Firm Stung by Housing Market Slump
Bloomberg, Feb. 15, 2023–Patrick ClarkWall Street-backed landlords have cut jobs and slowed purchases with high borrowing costs weighing on the housing market.https://www.bloomberg.com/news/articles/2023-02-15/starwood-single-family-rental-firm-stung-by-housing-market-slump?srnd=premium
Celebrity Home Loans Cuts 92% Of Its Staff
National Mortgage Professional, Feb. 15, 2023–David KrechevskyThe company on Monday emailed a notice, explaining to each affected employee that “we must terminate your employment today … at 5 p.m. EST.” …
Seven CRE Associations Establish Consortium for Companies to Buy From Diverse Suppliers
GlobeSt.com, Feb. 15, 2023–Paul BergeronIn addition to The Real Estate Roundtable, CREDS Consortium associations include CREW Network, ICSC, Mortgage Bankers Association, NAIOP, Nareit and the National Multifamily Housing Council. Each …
Mortgage Demand Drops as Interest Rates Bounce Higher
CNBC, Feb. 15, 2023–Diana OlickAfter falling for five straight weeks, mortgage rates jumped last week, triggering a decline in mortgage demand. Total mortgage application volume fell 7.7% last week, compared …
Freddie Abruptly Postpones Earnings Release
Inside Mortgage Finance, Feb. 15, 2023–Dennis HollierFreddie Mac surprised the market on Tuesday by canceling its fourth-quarter earnings release, which was scheduled for this morning. The cancellation came just one …
ICE Mortgage President Out as Black Knight Deal Hits Critical Phase
National Mortgage News, Feb. 14, 2023–Brad Finkelstein (subscription)At a key moment in Intercontinental Exchange’s proposed purchase of Black Knight, the leadership at ICE Mortgage Technology is changing as Joe Tyrrell, …
Biden to Tap Brainard, Bernstein to Economic Team, Leaving Fed Gap
Reuters, Feb. 14, 2023–Steve Holland, Lindsay Dunsmuir, Andrea ShalalPresident Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard and Jared Bernstein as his top economic advisers after …