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 …
Category: Top National News
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 …
Report: Fannie, Freddie Note Sales Undercut Homeownership Goals
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 …
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 …