HousingWire, Nov. 10, 2022Eddy Perez, the CEO and president of Equity Prime Mortgage and committee member and board member of the Mortgage Bankers Associatiom, brings to the table some really …
Category: Top National News
CMBS Falters in 3Q22 but Agency Multifamily Softens the Decline
Inside Mortgage Finance, Nov. 11, 2022–John BancroftSecuritization of income-property mortgages declined in the third quarter, but the sector’s slump wasn’t nearly as severe as the nosedive in residential MBS issuance.https://www.insidemortgagefinance.com/articles/226214-cmbs-falters-in-3q22-but-agency-multifamily-softens-the-decline?v=preview
U.S. Jobless Claims Tick Higher in Latest Week
MarketWatch, Nov. 10, 2022–Greg RobbInitial jobless claims rose 7,000 to 225,000 in the week ended November 5, the U.S. Labor Department said Thursday to theie highest level in four weeks.https://www.marketwatch.com/story/jobless-claims-tick-higher-in-latest-week-11668087725
Economists: Inflation May Have Peaked
National Mortgage Professional, Nov. 10, 2022–David KrechevskyBy any measure annual inflation is still high, but it pulled back more than expected in October, leading some economists to say inflation may …
Angel Oak Home Loans Announces Exit from Retail Channel
HousingWire, Nov. 10, 2022–Connie KimAngel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The firm will …
Home Point Capital Takes 3Q Loss, Nearly Completes Ginnie Mae MSR Exit
National Mortgage News, Nov. 10, 2022–Bonnie Sinnock (subscription)Home Point Capital recorded another loss in the third quarter, but executives said it’s making progress in rightsizing its lending division and building …
Home Equity Line of Credit and Home Equity Loans: ‘Right Tool at the Right Time’
USA Today, Nov. 9, 2022–Swapna Venugopal RamaswamyHomebuyers are sitting on an estimated $20 trillion worth of home equity, boosting the the demand for home equity lines of credit and home …
Jumbo Market Clobbered in 3Q…
Inside Mortgage Finance, Nov. 10, 2022–John BancroftAll corners of the primary mortgage market felt the pain of higher interest rates in the third quarter, but the non-agency sector took the …
Mortgage Rates Climb Over 7% Again As Refinances Hit 22-Year Low
ValueWalk, Nov. 10, 2022–Phil HallFreddie Mac reported the 30-year fixed-rate mortgage averaged 7.08% as of Nov. 10, up from last week when it averaged 6.95%. The 15-year fixed-rate mortgage averaged …
Why the CFPB’s Guidance on Unfair Practices Will Keep Giving Banks Trouble
American Banker, Nov. 9, 2022–Kate Berry (subscription)Bankers claim that the CFPB issued non-binding guidance on so-called “unfair” bank fees and that the White House released a statement on the same …