CNBC, Feb. 8, 2023–Diana OlickMortgage rates continued to fall last week, and both current homeowners and potential homebuyers reacted swiftly. Total mortgage application volume, including refinances and loans to purchase …
Category: Top National News
Director Battles Ensues, loanDepot Founder Hsieh Steps Down as Exec Chairman
Inside Mortgage Finance, Feb. 8, 2023–Paul MuololoanDepot Wednesday morning disclosed that company founder Anthony Hsieh has stepped down as executive chairman of the lender/servicer, pursuant to a “mutual agreement unanimously …
He Turned Wall Street Offices Into Homes. Now He Vows to Remake New York
Bloomberg, Feb. 8, 2023–Natalie Wong (subscription)New York is joining a global push for office-to-home conversion to alleviate housing shortages and revitalize downtowns with vacant commercial real estate. Developer Nathan Berman …
Guild Acquires Small Retail Lender Legacy Mortgage
HousingWire, Feb. 7, 2023–James KleimannAcquisitive lender Guild Mortgage on Tuesday announced the acquisition of Legacy Mortgage, increasing its footprint in the Southwest. Publicly traded Guild is picking up Legacy’s 13 …
Homepoint Conducts Layoffs
National Mortgage News, Feb. 7, 2023–Maria Volkova (subscription)Homepoint had a layoff round last Friday impacting dozens of employees, though some estimate that the rightsizing measure may have been even bigger. …
Banks Face Avalanche of Data Demands Ahead of CRA, CFPB Final Rules
American Banker, Feb. 7, 2023–Miriam Cross (subscription)This potential triple whammy means that financial institutions may want — or need — to get a head start at strategizing what tools they …
Powell Says Further Rate Hikes Needed Amid ‘Strong’ Labor Market
Bloomberg, Jan. 7, 2023–Craig TorresFederal Reserve Chair Jerome Powell said that additional interest-rate increases will be needed to cool inflation and borrowing costs may need to peak higher than previously …
Consumers are Feeling Better about the Housing Market
National Mortgage News, Feb. 7, 2023–Brad Finkelstein (subscription)While consumer sentiment about the housing market brightened for the third consecutive month, affordability challenges mean only few consider now a good time …
MBA Urges FHFA to Remove DTI Ratio from GSEs’ Loan Pricing Framework
Mortgage Professional America, Feb. 7, 2023–Candyd MendozaRobert Broeksmit, president and CEO of the Mortgage Bankers Association, reiterated initial concerns about adding an LLPA based on debt-to-income ratio, its unfortunate timing …
Wells Testing the Waters With Two MSR Offerings
Inside Mortgage Finance, Feb. 7, 2023–Paul Muolo (subscription)Wells Fargo is in the market selectively chatting up two bulk packages of mortgage servicing rights, one sized at $20 billion, another at …