National Mortgage News, Aug. 26, 2022–Bonnie Sinnock (subscription)Student loan forgiveness for more than 40 million people announced this week could help improve mortgage eligibility and performance for a subset of …
Category: Top National News
How Automation Can Help Banks Tame the Home Lending ‘Roller-Coaster’
Banking Dive, Aug. 26, 2022–Anna HrushkaThe cyclical nature of the market doesn’t mean lenders should be forced to respond with mass hiring or firing as demand for mortgages ebbs and …
Something Has To Give
The Housing Scene (UExpress), Aug. 26, 2022–Lew SichelmanSome renters would give up a bedroom in their current place and rent a smaller unit — if it meant they could save …
Banks Faulted for ‘Atrocious’ Customer Service in CFPB Inquiry
American Banker, Aug. 25, 2022–Kate Berry (subscription)The CFPB received roughly 100 comments to a request for information in June that is laying bare some of the holes in banks’ customer …
Blackstone Single-Family Landlord to Halt Home Purchases in 38 Cities
Bloomberg, Aug. 25, 2022–Patrick Clark, Dawn LimHome Partners of America, the single-family landlord owned by Blackstone Inc., will stop buying homes in 38 US cities, becoming the latest institutional investor …
Market Opening up for First-Time, Low-Down Payment Buyers
Orange County Register, Aug. 25, 2022–Jeff LazersonUntil recently, it’s been very difficult for any low-down payment buyers, first-timers or not, to be able to compete with all-cash offers or big …
Fed Officials: No Call yet on 50 vs. 75 bps Rate Hike Next Month
Reuters, Aug. 25, 2022–Howard SchneiderFederal Reserve officials on Thursday were noncommittal about the size of the interest rate increase they will approve at their Sept. 20-21 meeting, but continued hammering …
Median Mortgage Payments Decrease, Affordability Improves in 47 States
MortgageOrb, Aug. 25, 2022–Ariana FineHomebuyer affordability improved for the second straight month in July, with the national median payment applied for by applicants decreasing to $1,844 from $1,893 in June. …
loanDepot Reducing Its Funding Capacity
National Mortgage Professional, Aug. 25, 2022–David KrechevskyJust 10 days after announcing it would shutter its wholesale lending business, loanDepot told federal regulators it plans to reduce its funding capacity. In …
Mortgage Fintech Reali to Shut Down
National Mortgage News, Aug. 25, 2022–Andrew Martinez (subscription)The San Mateo, California-based firm will lay off most of its workforce Sept. 9, it announced Wednesday. Reali, founded in 2016, provides “buy …