Reuters, Oct. 21, 2022–Howard SchneiderThe Federal Reserve, set to approve another large interest rate increase as early as next month, is shifting to a debate over how much higher it …
Category: Top National News
PHH Liable for $2M for Denying Loan Modification in Divorce Case
National Mortgage News, Oct. 21, 2022–Brad Finkelstein (subscription)PHH Mortgage Services is liable for $1.86 million following an arbitrator’s ruling finding that it denied a consumer loss mitigation and failed to …
KBRA: Backlog of Redeemable Non-QM Securities Growing
National Mortgage Professional, Oct. 21, 2022–David KrechevskyIn a report issued earlier this month, Kroll Bond Rating Agency LLC noted there is a growing backlog of Non-QM residential mortgage-backed securities that …
Despite a Drop in Mortgage Shoppers, Opportunities are Out There
HousingWire, Oct. 21, 2022–Connie KimThe overall ARM loan share rose to 12.8% of all applications last week, marking a 14-year high, according to the Mortgage Bankers Association. Rates for 5/1 …
Home Sales, Listings Plunge Over 20% in September—Most Since Pandemic’s Outset
GlobeSt.com, Oct. 21, 2022–Paul BergeronHome mortgage applications are now into their fourth straight month of declines, dropping to the lowest level since 1997, as the 30-year fixed mortgage rate hit …
Coming Soon: Layoffs and Branch Closings at Finance of America
Inside Mortgage Finance, Oct. 21, 2022–Paul MuoloFinance of America, which lost $232 million in the first half of 2022 and likely will post another loss in the third quarter, is …
Surveys Unpack HOA Gripes
The Housing Scene (UExpress), Oct. 21, 2022–Lew SichelmanA survey from HomeAdvisor found that 4 out of every 5 folks living with a homeowners’ association would just as soon live elsewhere. …
Fannie Mae, Freddie Mac Data Should be Public, Trade Groups Say
National Mortgage News, Oct. 20, 2022–Maria Volkova (subscription)The Mortgage Bankers Association in its letter to FHFA’s Director Sandra Thompson argues that Fannie Mae and Freddie Mac, two entities that the …
All of CFPB’s Past Actions Threatened by Appeals Court Decision
American Banker, Oct. 20, 2022–Kate Berry (subscription)An appeals court decision that invalidated the Consumer Financial Protection Bureau’s payday lending rule has far broader implications, potentially opening all of the agency’s …
As Prices Fall, Homebuyers Can Weigh Agent Bonus for Even More Discounts
Orange County Register, Oct. 20, 2022–Jeff LazersonDuring the buying frenzy of the past few years, many realty agents squeezed every last dime from homebuyers on behalf of sellers, closing horribly …