Inside Mortgage Finance, Aug. 10, 2022–Paul MuololoanDepot, the brainchild of industry veteran Anthony Hsieh, Tuesday afternoon reported a $223.8 million loss for the second quarter, amid higher interest rates and …
Category: Top National News
Garden Apartments Remain Favored Among Multifamily Buyers
Wealth Management Real Estate, Aug. 10, 2022–Bendix AndersonCap rates on suburban garden apartments fell below rates for mid-rise and high-rise multifamily properties during the second quarter, according to recent data …
loanDepot Dumping Brokers, Exits Wholesale
National Mortgage Professional, Aug. 9, 2022–David KrechevskyloanDepot, the nation’s second-largest retail mortgage lender, has so far cut nearly 4,000 jobs since the end of last year, but today said it …
How Do Rising Interest Rates Affect Homebuyers?
NBC4 (Columbus, Ohio), Aug 10, 2022–David ReesInflation is the highest in 40 years, leading to increased mortgage rates at around 4.5% to 5%. Prospective homebuyers navigating this market will have …
Rising Home Values Make Second Mortgages More Attractive. Know the Risks Before You Borrow
Time magazine, Aug. 9, 2022–Kat TretinaMany mortgage holders are in a good position as they hold onto record-high accessible equity. Many are considering using second mortgages, a home equity loan …
Builders Are Stuck With Too Many Houses as US Buyers Pull Back
Bloomberg, Aug. 9, 2022–Prashant Gopal, Mark FelixIn an American housing market that for years has been plagued by too little inventory, builders are suddenly finding themselves with a glut of …
There’s More Blood on the Tracks in the Non-QM Market
HousingWire, Aug. 9, 2022–Bill ConroyThe REIT, which is managed by investment advisor Western Asset Management Co. LLC, recently announced that it is exploring a potential company sale or merger in …
Consumers Lower Their Expectations of Future Inflation
Wall Street Journal, Aug. 9. 2022–Austen Hufford (subscription)Americans are expecting less inflation in coming years, according to a recent survey by the Federal Reserve Bank of New York.https://www.wsj.com/articles/consumers-lower-their-expectations-of-future-inflation-11659993080?mod=hp_major_pos1#cxrecs_s
Closing Speeds Aren’t Meeting Mortgage Borrower Expectations
National Mortgage News, Aug. 9, 2022–Spencer Lee (subscription)As lenders handled record origination volumes in 2021, their clients came through the mortgage process largely satisfied with their experiences, but expectations are …
Mortgage Credit Availability Hits Lowest Level Since 2013
National Mortgage Professional, Aug. 9, 2022–Keith GriffinMortgage credit availability decreased in July to its lowest point since March 2013. That’s according to the Mortgage Credit Availability Index, a report released …