HousingWire, Nov. 2, 2022–Connie KimRocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options …
Category: Top National News
Mortgage Demand Falls Slightly Even as Rates Slip from Recent Highs
CNBC, Nov. 2, 2022–Diana OlickMortgage application volume barely moved last week, falling 0.5% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.https://www.cnbc.com/2022/11/02/mortgage-demand-falls-even-as-rates-slip-from-recent-highs.html
Production Tanks at Rithm, MSR Markups Save the Day
Inside Mortgage Finance, Nov. 2, 2022–Paul MuoloRithm Capital Corp., the third largest owner of mortgage servicing rights in the nation, saw its originations tank by almost 28% in the third …
Wells Fargo Mortgage Staff Brace for Layoffs as U.S. Loan Volumes Collapse
CNBC, Nov. 2, 2022–Hugh SonMortgage volumes at Wells Fargo slowed further in recent weeks, leaving some workers idle and sparking concerns that the lender will need to cut more employees …
Mortgage Lenders Do What They Can to Survive Rising Rates: Morning Brief
Yahoo News, Nov. 2, 2022–Janna HerronIt’s no secret the mortgage market is getting hammered. Just look at last week’s stats on new home sales and pending ones and you immediately …
Maine May Reconsider Foreclosure Rule That Shields Borrowers
National Mortgage News, Nov. 1, 2022–Bonnie Sinnock (subscription)The possibility that Maine could remove a consumer protection against continued foreclosure litigation after a borrower has won could give servicers expanded options …
Another Mega Interest Rate Hike is Coming. What This Means For Your Finances.
USA Today, Nov. 2, 2022–Medora LeeThe Fed’s expected to deliver another super-sized 0.75% interest rate hike on Wednesday to fight inflation. This means every consumer rate from mortgages to autos …
BFR or BTR? Why Words Matter
Multi-Housing News, Oct. 31, 2022–Lew SichelmanAre you building houses for rent? Or are you building houses to rent? There’s really no difference, except that the term “building to rent” receives …
Increasingly, Fannie and Freddie are Sticking to Core Activities
Inside Mortgage Finance, Nov. 1, 2022–Brandon IveyRising interest rates and new pricing policies initiated by the Federal Housing Finance Agency have driven down the “noncore” share of business at the …
What Happens When the CFPB’s Funding Question Hits the Supreme Court?
National Mortgage News, Nov. 1, 2022–Kate Berry (subscription)Constitutional scholars and legal experts said the Supreme Court is likely to expedite a review of the case as early as next year, …