National Mortgage Professional, Jan. 31, 2023–David KrechevskyThe National Consumer Law Center released a report Monday examining how Fannie Mae’s and Freddie Mac’s bulk sale of 700,000 home loans to private …
Category: Top National News
First Internet Bank is Shuttering its Consumer Mortgage Business
HousingWire, Jan. 31, 2023–Connie KimFirst Internet Bancorp, parent company of First Internet Bank, announced that the exit will include its nationwide digital direct-to-consumer mortgage platform, which originates residential loans for …
Lower Mortgage Rates Are Bringing Buyers Back to the Market
Keeping Current Matters, Jan. 31, 2023“Mortgage rates are now at their lowest level since September 2022, and about a percentage point below the peak mortgage rate last fall. As we …
NYCB Unveils Massive Mortgage Restructuring Plan, Will Reduce Coverage by Almost 70%
Inside Mortgage Finance, Jan. 31, 2023–Paul MuoloNew York Community Bancorp, making a nod to the cyclicality of the mortgage business and credit tightening by the Federal Reserve, Tuesday morning unveiled …
Banks Say CFPB’s Data Access Rule Ratchets Up Liability Risks
American Banker, Jan. 30, 2023–Kate Berry (subscription)Banks and credit unions are raising concerns about data security risks and oversight of third-party partners as the Consumer Financial Protection Bureau crafts rules …
Latest USAA Employee Reduction Impacts Mortgage Unit
National Mortgage News, Jan. 30, 2023–Maria Volkova (subscrition)USAA eliminated an unspecified number of jobs in late January, with some of the employees impacted working in the company’s mortgage department. A …
US Offices Reach 50% Occupancy for First Time Since Pandemic Hit
Bloomberg, Jan. 30, 2023–Matthew BoyleMore than half of workers in major US cities went to the office last week, the first time that return-to-office rates crossed 50% of their pre-pandemic …
Fed’s Interest-Rate Strategy in 2023 Hinges on How Quickly Rate Increases Slow Economy
Wall Street Journal, Jan. 30, 2023–Nick Timiraos (subscription)Federal Reserve officials’ deliberations this week over how much more to raise interest rates will hinge on how much they expect the economy …
Fairway Overhauls Its Reverse Mortgage Channel
National Mortgage Professional, Jan. 30, 2023–David KrechevskyFairway Independent Mortgage Corp., one of the nation’s largest lenders, said Monday it is reorganizing its reverse mortgage channel.https://nationalmortgageprofessional.com/news/fairway-overhauls-its-reverse-mortgage-channel
Honoring The Mortgage Industry’s 2023 Diversity Leaders
National Mortgage Professional, Jan. 30, 2023Recognize the companies leading the way for the mortgage industry to become more inclusive and reflective of the communities that they serve. (MBA mention)https://nationalmortgageprofessional.com/news/honoring-mortgage-industrys-2023-diversity-leaders