Inside Mortgage Finance, Oct. 6, 2022–John BancroftBusiness volume in the agency single-family mortgage market fell again in the third quarter of 2022, marking the seventh straight quarterly decline since setting …
Category: Top National News
Mortgage Rates Down Slightly While Lenders Reject Home Loans In Flood Risk Areas
ValueWalk, Oct. 6, 2022–Phil HallThis week, mortgage rates dipped slightly while mortgage applications reached a quarter-century low and mortgage denials saw an uptick for properties in areas with elevated flood …
The Most Powerful Women to Watch 2022
American Banker, Oct. 5, 2022–Mary Ellen EganKristy Fercho, CEO of home lending at Wells Fargo, tops the list of this year’s Most Powerful Women in Banking: Watch list. Fercho was …
Third Servicer Entangled in Massive Data Breach Litigation
National Mortgage News, Oct. 5, 2022– Andrew Martinez (subscription)The legal fallout from a massive data breach impacting over four million borrowers’ personally identifiable information just got bigger.https://www.nationalmortgagenews.com/news/third-servicer-entangled-in-massive-data-breach-litigation?
FHA Plans to Revamp its 203k Renovation Program
HousingWire, Oct. 4, 2022–Flávia Furlan NunesThe Federal Housing Administration expects to issue in the next 90 days a request for information from the public to update its 203K program, a …
Rising Rates Could Help Reinsurers Better Price Climate Risk
Wall Street Journal, Oct. 5, 2022–Telis Demos (subscription)The reach for yield has long been a boost for the catastrophe bond market, which acts as a backstop to the global insurance …
Mortgage Applications Plummet 14% as Higher Interest Rates and Hurricane Ian Crush Demand
CNBC, Oct. 5, 2022–Diana OlickThe highest mortgage rates in more than 20 years coincided with one of the deadliest hurricanes on record in the United States, both contributing to a …
FHA Cash-Out Refi Share Spikes to 82%
Inside Mortgage Finance, Oct. 5, 2022–John BancroftSome 47,195 endorsements for cash-out deals were recorded by FHA in the second quarter of 2022. That represented 21.6% of total FHA new business …
Sharp Decrease In Demand Driving Housing Market Cooldown
National Mortgage Professional, Oct. 5, 2022–David KrechevskyAs mortgage rates continue to rise, the housing market has seen a dramatic increase in home listings being removed and in the volume of …
The Housing Coming to Your Backyard
The Atlantic magazine, Oct. 5, 2022–M. Nolan GrayAccessory dwelling units have graduated from wonky planning jargon to popular parlance. Variously known as granny flats, mother-in-law units or casitas, ADUs are …