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 …
Category: Top National News
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 …
Brookfield Defaults on Two Los Angeles Office Towers
Bloomberg, Feb. 14, 2023–John GittelsohnBrookfield Corp., parent of the largest office landlord in downtown Los Angeles, is defaulting on loans tied to two buildings rather than refinancing the debt as …
Older Homeowners are More Likely to be Denied a Mortgage
MarketWatch, Feb. 14, 2023–Alicia H. MunnellGiven that mortality risk has real economic implications for lenders means that the results of this study do not necessarily indicate that lenders are violating …
What Mortgage Company Changes Mean for Your Home Loan
Washington Post, Feb. 14, 2023–Barbara Marquand (Nerdwallet/Associated Press)Mortgage applications to buy homes dropped almost 40% year over year in the last few months of 2022, and refinance applications were down …
Multifamily Forecast for 2023 Cut by $9B on Uncertainty
National Mortgage News, Feb. 14, 2023–Brad Finkelstein (subscription)The Mortgage Bankers Association reduced its outlook for multifamily lending this year by $9 billion as uncertainty in the U.S. economy will affect …
MBA CREF 2023: CRE Loans Benefiting From Prior Value Spike Amid Headwinds
Commercial Observer, Feb. 14, 2023–Andrew CoenA previous sharp rise in commercial real estate values that predated headwinds spurred by the COVID-19 pandemic and rising interest rates provides cushion for some …
Fannie Earnings Tumble as Provisions Rise
Inside Mortgage Finance, Feb. 14, 2023–Dennis HollierIn its fourth quarter earnings call on Tuesday, Fannie Mae reported a net income of $12.92 billion in 2022, down sharply from $22.10 billion …