National Mortgage Professional, Aug. 15, 2022—Keith GriffinCiting “significant market pressure,” Impac Mortgage announced during its second quarter earnings call that staffing has been reduced almost 80% since the beginning of …
Category: Top National News
Rent Growth Diverging Across Office and Multifamily
GlobeSt.com, Aug. 15, 2022–Lynn PollackRent growth across the office and multifamily sectors is no longer in lockstep, disrupting a lengthy period in which the sectors typically followed the same trend, …
Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated
Bloomberg, Aug. 14, 2022–Hannah LevittWells Fargo & Co. plans to shrink its vast mortgage empire, which once churned out one of every three home loans in the US and for …
Agency Multifamily Market Heats Up, but Non-Agency CMBS Cools
Inside Mortgage Finance, Aug. 12, 2022–John BancroftSecuritization of income-property mortgages declined from the first to the second quarter due to slumping non-agency issuance, according to a new Inside MBS & …
10 Cities Where Home Prices Are Rising the Most
Money magazine, Aug. 12, 2022–Sarah HansenEven as some parts of the red-hot housing market have begun to cool, home prices just keep rising to new record highs.https://money.com/cities-home-prices-rising-most/
Q2 Banks, Credit Unions Offer Digital Home Loan Process from Rocket Mortgage
MortgageOrb, Aug. 12, 2022–Ariana FineQ2 Holdings Inc., a provider of digital transformation solutions for banking and lending, and Rocket Mortgage, a mortgage lender and a part of Rocket Companies, are …
Impac Mortgage Holdings Backs Off Non-QM, Posts Ugly Q2 Results
HousingWire, Aug. 12, 2022–Flávia Furlan NunesAdd Impac Mortgage Holdings to the list of mortgage lenders that posted a loss in the second quarter of 2022, despite an effort to reduce …
It’s Price, Not Mortgage, Says Redfin’s Kelman
Bloomberg, Aug. 12, 2022–Denise PellegriniRedfin CEO Glenn Kelman says if you find a house you like at a good price, don’t stress too much about rising mortgage rates. Bloomberg Radio’s …
This Clause Keeps Sellers in Charge
The Housing Scene (UExpress), Aug. 12, 2022–Lew Sichelman By demanding a “kick-out clause,” you have the right to terminate a contingency-laden contract if another buyer comes along and offers a …
Increased Cost of Capital Forces a Reset of Multifamily Valuations
Wealth Management Real Estate, Aug. 12, 2022–Jenn ElliotBuyers are beginning to ask for discounts and some deals fall through. But experts say the disturbance in the sector is based on …