National Mortgage News, Nov. 16, 2022–Brad Finkelstein (subscription)A now-more-than-likely cut in the Federal Housing Administration’s mortgage insurance premium could offset any impact of the reduction in the conforming market’s loan …
Category: Top National News
All Hands On Deck
National Mortgage Professional, Nov. 16, 2022–Lew SichelmanIt’s no secret that borrowers don’t like it when their lenders, the ones they planned to pay, transfer their mortgages to third party servicers. …
Sharp Drop in Mortgage Rates Does Little to Boost Demand
CNBC, Nov. 16, 2022–Diana OlickMortgage application volume rose 2.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.https://www.cnbc.com/2022/11/16/sharp-drop-in-mortgage-rates-does-little-to-boost-demand.html
More Homeowners Using HELOCs as Financial Safety Net
Wall Street Journal, Nov. 16, 2022–Veronica Dagher (subscription) As high interest rates drive up the cost of borrowing money, more people are tapping the equity in their homes. Americans took …
Some Homebuyers Lose Deposits of $10,000, $20,000 or More Due to High Mortgage Rates
NPR, Nov. 16, 2022–Chris ArnoldThe John Burns Real Estate Consulting Group surveyed about 100 homebuilders about how they were handling earnest money deposits buyers are required to make. For customers …
CFPB Asks Supreme Court to Uphold Constitutionality of its Funding
American Banker, Nov. 15, 2022–Kyle Campbell (subscription)In a petition filed Monday, the CFPB challenged the U.S. Court of Appeals for the 5th Circuit’s ruling on Community Financial Services Association of …
Mortgage Rates Could Tank Home Prices by 20%, Fed Study Finds
Bloomberg, Nov. 15, 2022–Catarina SaraivaUS house prices could tumble as much as 20% in the wake of the surge in mortgage rates, according to research from the Federal Reserve Bank …
What is Shadow IT and Why is it a Threat to Mortgage Lender Security?
National Mortgage News, Nov. 16, 2022–Maria Volkova (subscription)Shadow IT, a term which rose to prominence in the past decade, is defined as a tool or process brought in-house without the …
Listed, a New Wordle-Inspired Game, is Sure to be the Next San Francisco Obsession
SF Gate (San Francisco), Nov. 15, 2022–Tessa McLean Guessing outrageous San Francisco real estate prices has been a favorite pastime of city residents for years. Prices are anything but predictable …
loanDepot Ends Repurchase Agreement, Shrinks Funding Capacity
HousingWire, Nov. 15, 2022–Connie KimCalifornia-based mortgage lender loanDepot terminated a master repurchase agreement with J.V.B. Financial Group, reducing its funding capacity amid sharply decreasing originations.https://www.housingwire.com/articles/loandepot-ends-repurchase-agreement-shrinks-funding-capacity/