Wealth Management Real Estate/Bloomberg, Feb. 2, 2023–Dawn LimBlackstone Inc. is reshuffling the leadership of a key real estate business as the private equity giant navigates one of the most challenging …
Category: Top National News
Hotel Analysts Expect Industry Resilience Through Recession
Hotel News Now, Feb. 2, 2023–Bryan WrotenTalks of a potential recession permeated the Americas Lodging Investment Summit, but industry analysts don’t expect it would set hotel performance back much.https://www.costar.com/article/940094565/hotel-analysts-expect-industry-resilience-through-recession
Black Families Shrink the US Wealth Gap But Still Have 70% Less
Bloomberg, Feb. 2, 2023–Kelsey ButlerSince the end of 2019, the average net worth for Black households rose 32% through the third quarter of last year, according to a Wells Fargo …
Wells Fargo Cuts 140 Jobs as It Exits the Correspondent Channel
HousingWire, Feb. 1, 2023–Flávia Furlan NunesClick to share on Twitter (Opens in new window)Click to share on Facebook (Opens inWells Fargo cut over a hundred jobs in its mortgage division …
Senate Democrats Ask FHFA to Review Nonperforming Loan Programs
National Mortgage News, Feb. 1, 2023–Claire Williams (subscription)Sens. Sherrod Brown of Ohio, the chairman of the Senate Banking Committee, Jack Reed of Rhode Island, Tina Smith of Minnesota, Ron Wyden …
Falling Mortgage Rates Bring Some Home Buyers Back to Market
New York Times, Feb. 2, 2023–Gregory SchmidtBuyers are returning after being sidelined by a jump in borrowing costs, but experts say that the uncertain state of the economy is what …
Ginnie Mae Reduces Seasoning Period for Reperforming Loans
MortgageOrb, Feb. 1, 2023–Michael BatesGinnie Mae has revised its pooling requirements, with a reduced seasoning period for reperforming loans and an allowance that reperforming loans that meet those requirements to …
Mortgage Demand Took a Big Step Back Last Week, Even After Interest Rates Fell Further
CNBC, Feb. 1, 2023–Diana OlickTotal mortgage application volume fell 9% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.https://www.cnbc.com/2023/02/01/mortgage-demand-fell-last-week-even-after-interest-rates-fell-further.html
Lakeview Dethrones Freedom Mortgage as the Largest GNMA Servicer
Inside Mortgage Finance, Feb. 1, 2023–Andras MalatinszkyLakeview/Bayview Loan Servicing added nearly $33 billion to its Ginnie Mae servicing portfolio in the final stretch of 2022, making it the largest player …
Fed Officials See Lots of Room to Shed Bonds from the Balance Sheet
Reuters, Jan. 31, 2023–Michael S. DerbyFederal Reserve officials believe their effort to shrink the U.S. central bank’s bond holdings is far from done, pushing back against some economists’ idea that …