DSNews, Oct. 26, 2022–Demetria C. LesterThe Government National Mortgage Association is extending the mandatory implementation date of the RBC requirement to December 31, 2024. (MBA mention)https://dsnews.com/news/10-26-2022/ginnie-mae-extension
Category: Top National News
Pennymac Imposes a New Round of Layoffs Ahead of Q3 Earnings
HousingWire, Oct. 26, 2022–Flávia Furlan NunesNonbank mortgage lender and servicer Pennymac Financial Services imposed a new round of layoffs to its employees this week, ahead of its third-quarter earnings report …
What the FHFA Credit Score Change Could Mean for the Industry
National Mortgage News, Oct. 26, 2022–Bonnie Sinnock (subscription)Mortgage experts generally expect government-related investors’ plan to replace FICO’s “classic” score with newer ones — and more flexible credit reporting — could …
Zillow Group Cuts Another 300 Positions
National Mortgage Professional, Oct. 26, 2022–David KrechevskyWith mortgage applications steadily declining as interest rates climb over 7%, Zillow Group Inc. has announced a second round of layoffs this year. The …
With Homes Costing 55% More Today Than a Year Ago, This Type of Mortgage Is Increasingly Attractive…
Yahoo!Finance, Oct. 26, 2022–Lauren BirdAccording to Redfin, 85% of people who have a locked-in rate below the current rate are holding back from the housing market. And deals are falling …
Mortgage Demand from Homebuyers is Now Nearly Half of What it Was a Year Ago
CNBC, Oct. 26, 2022–Diana OlickMortgage demand fell last week to nearly half what it was a year ago, according to the Mortgage Bankers Association, as rates hit their highest level …
Smaller Shops Want FHFA’s Help on Tech Fees
Inside Mortgage Finance, Oct. 26, 2022–Brandon IveyCommunity lenders want the Federal Housing Finance Agency to step in and prohibit certain fees technology vendors are charging residential originators.https://www.insidemortgagefinance.com/articles/226060-smaller-shops-want-fhfas-help-on-tech-fees?v=preview
Many Still Prefer In-Person Closings, 19% Prefer RON: Solidifi
National Mortgage News, Oct. 26, 2022–Maria Volkova (subscription)A large share of borrowers wants some digital closing tools, but the majority still prefer in-person interactions, according to survey data from Solidifi, …
Another Closely Watched Recession Alarm Is Ringing
New York Times, Oct. 26, 2022–Joe RennisonA recession warning tracked by Wall Street is growing louder, as another measure of the widely watched “yield curve” signals that the United States …
Flagstar’s Originations Decline Somewhat, Margins Improve
Inside Mortgage Finance, Oct. 26, 2022–Brandon Ivey (subscription)Originations at Flagstar Bank declined 10.4% on a sequential basis in the third quarter while gain-on-sale margins increased, according to figures released Wednesday …