National Mortgage News, Aug. 1, 2022–Brad Finkelstein (subscription)Mortgage servicers took a big win home from the U.S. Court of Appeals for the Fourth Circuit, which ruled borrowers had to return …
Category: Top National News
Some Wins for Mortgage Industry in Bill Supported by Manchin
Inside Mortgage Finance, Aug. 1, 2022–Brandon IveyAccording to the Mortgage Bankers Association, the bill includes language to preserve the deferred tax treatment of mortgage servicing rights. The House included a …
Inflation Begins to Strain Finances of Young, Low-Income Americans
Reuters, Aug. 1, 2022–Elizabeth Ditts MarshallGeneration Z consumers and those with low credit scores are falling behind on credit card and auto loan bills and accumulating credit card debt at …
Guaranteed Rate Affinity Sues Divisional Manager for Causing ‘Mass Departure’
HousingWire, Aug. 1, 2022–Flávia Furlan NunesJonathan Engler, the target of the lawsuit, and other eight employees left the company to join Cardinal Financial Company.https://www.housingwire.com/articles/guaranteed-rate-affinity-sues-divisional-manager-for-causing-mass-departure/
June Housing Inventory Up Most In Over 12 Years As Price Growth Slows
National Mortgage Professional, Aug. 1, 2022–David KrechevskyAccording to Black Knight Collateral Analytics data, on a seasonally adjusted basis the number of homes listed for sale rose by 80,700 in June …
What Would Bring Down Mortgage Rates? A Recession
WTOP (Washington, D.C.), Aug. 1, 2022–Jeff Clabaugh“If the economy were to weaken, which market participants expect, that typically leads to lower interest rates despite what may be happening to short-term …
Rocket is the Latest to Launch a New Home-Equity Product
National Mortgage News, Aug. 1, 2022–Spencer Lee (subscription)The Detroit-based lender announced a new home-equity loan on Monday, which is already available to consumers, according to a company spokesperson.https://www.nationalmortgagenews.com/news/rocket-is-the-latest-to-launch-a-new-home-equity-product
Sales Fees Don’t Always Jibe With Price
The Housing Scene (UExpress), July 29, 2022–Lew SichelmanAt the same commission rate, real estate agents who sell an $800,000 house receive eight times the compensation of those who sell a …
Inflation Spurs U.S. Consumers to Spend More on Credit Cards
Reuters, Aug. 1, 2022–Elizabeth Ditts MarshallAs high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure.https://www.reuters.com/business/finance/inflation-begins-strain-finances-young-low-income-americans-2022-08-01/
Fannie Mae Says It’s $262B Short Of Being Fully Capitalized
National Mortgage Professional, July 29, 2022–David KrechevskyFannie Mae reported second-quarter net income of $4.7 billion, up 6.8% from $4.4 billion in the first quarter but down 34.7% from $7.2 billion …