National Mortgage Professional, Oct. 31, 2022–Sarah WolakAs of the week of October 16, Days on Zillow – Zillow’s measure of the median amount of time that a for-sale listing has …
Category: Top National News
Mortgage Giant Rocket Plunges Back to Earth, Hit by Rising Rates
Wall Street Journal, Oct. 31, 2022–Ben Eisen (subscription)America’s largest home lender harnessed a generation of low rates to refinance millions of mortgages. Its effort to switch focus is a challenge.https://www.wsj.com/articles/mortgage-rocket-refinancing-interest-rates-11667226404?mod=hp_lead_pos5
Beset by Federal Lawsuit, Kansas City Home Lender Exits the Business after 71 Years
Kansas City Star, Oct. 31, 2022–Mike HendricksKansas City-based James B. Nutter & Co., one of the nation’s largest private mortgage lenders that since its founding in 1951 helped hundreds of …
Another Interest Rate Hike from the Federal Reserve is on the Way: Here’s How it May Affect You
CNBC, Oct. 31, 2022–Jessia DicklerAlong with the Fed’s vow to stay tough on inflation, the average interest rate on the 30-year fixed-rate mortgage is now near 7%, according to the …
Expanded-Credit MBS Issuance Off by Almost 20%
Inside Mortgage Finance, Oct. 31, 2022–Brandon IveyIssuers came to market with $9.9 billion of securities backed by expanded-credit mortgages in the third quarter, a sequential decline of 19.6%, according to …
Is the U.S. Headed Toward a Housing Crash? Experts Say It’s Not 2008
The Hill, Oct. 31, 2022–Adam BarnesAnalysts argue these market trends are a symptom of a correction after two years of massive growth and several key elements present during the 2008 …
New Lending Rule Will Help Low-Credit and No-Credit Home Buyers
The Mortgage Reports, Oct. 31, 2022–Paul Centopani“Given the ongoing affordability challenges facing homebuyers, FHFA’s targeted adjustments to the GSEs’ pricing framework are well-timed and will improve access to credit for …
High-Risk Defaults Could be ‘Canary in the Coal Mine’ for Mortgage Market
National Mortgage News, Oct. 28, 2022–Kyle Campbell (subscription)The rate of early payment defaults — defined as at least two missed payments within the first six months of a mortgage — …
What the Midterm Elections Mean for the Housing Market…
MarketWatch, Oct. 30, 2022–Aarthi SwaminathanIn mid-October, a federal appeals court said that the Consumer Financial Protection Bureau, a financial watchdog agency, was unconstitutional due to its funding. And “that could …
Finance of America Casualties, Branches Rescued by California Lender
National Mortgage News, Oct. 28, 2022–Maria Volkova (subscription)California-based American Pacific Mortgage scooped up close to half of Finance of America’s recently laid off employees and about 40 of its offices, …