HousingWire, Oct. 26, 2022–Connie KimNonbank mortgage lender and servicer Mr. Cooper Group reported a net income of $113 million in the third quarter thanks to servicing earnings shining through in …
Category: Top National News
Mortgage Rates Top 7%, Hitting Highest Level Since 2001
MoneyWatch, Oct. 26, 2022–Khristopher BrooksThe average interest rate on a typical 30-year mortgage surpassed 7% this week, the highest level since 2001. Mortgage rates rose from 6.94% last week to …
Offices in the US Are Still Less Than Half Full Despite Fears of Recession, Layoffs
Bloomberg, Oct. 25, 2022–Matthew BoyleMany offices in the nation’s biggest cities are still less than half full, more than a month after employers ramped up campaigns to cajole or compel …
Fannie Mae: FGMC Taking ‘License’ With Asset Sale
National Mortgage Professional, Oct. 25, 2022–David KrechevskyYou can’t sell what doesn’t exist. That’s the argument Fannie Mae has made to a federal bankruptcy court judge in Delaware as part of …
GSEs Focus on Increased Affordability Efforts, Risk Concerns
National Mortgage News, Oct. 25, 2022–Spencer Lee (subscription)Affordability initiatives, including special-purpose credit programs, and risk management are at the forefront of both government-sponsored enterprises’ priorities as the year ends, leaders …
MBA’s President Calls CFPB’s Director Out for Regulatory Overreach
National Mortgage News, Oct. 25, 2022–Maria Volkova (subscription)The Mortgage Bankers Association’s President Bob Broeksmit took aim at the Consumer Financial Protection Bureau on Monday, calling its independent directorship a key …
FHFA Updates GSE Loan Pricing, Slashing Certain Upfront Fees
Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), said that the pricing adjustments are “well-timed” given the ongoing affordability challenges facing homebuyers.https://www.mpamag.com/us/news/general/fhfa-updates-gse-loan-pricing-slashing-certain-upfront-fees/425131
MBA Chief Takes Aim at Regulators, Blames Them for Increasing Costs
Inside Mortgage Finance, Oct. 25, 2022–Sam ManasRegulators are keeping banks from fully participating in the mortgage market, and in turn increasing origination costs, according to Robert Broeksmit, president and CEO …
As Prices Fall, Homebuyers Can Weigh Agent Bonus for Even More Discounts
Mortgage Grader, Oct. 25, 2022–Jeff LazersonEconomic conditions are quickly worsening as borrowing costs for cars, credit cards and mortgages explode in the name of conquering inflation. Previously soaring home prices …
MBA Chief Takes Aim at Regulators, Blames Them for Increasing Costs
Inside Mortgage Finance, Oct. 25, 2022–Sam Manas (subscription)Regulators are keeping banks from fully participating in the mortgage market, and in turn increasing origination costs, according to Robert Broeksmit, CMB, president …