Inside Mortgage Finance, July 18, 2022–John Bancroft (subscription)The secondary market in agency mortgage servicing rights came to a boil in the second quarter of 2022 as lenders looking to sell …
Category: Top National News
Despite Headwinds, These Mortgage Companies are Hiring
HousingWire, July 18, 2022–Connie KimBased on the headlines, one might assume the mortgage business is a complete disaster. Origination volume is down about 50% from last year and thousands of …
The Great Chinese Mortgage Strike: Thousands of Homebuyers are Refusing to Pay Their Home Loans as Growing Boycotts Spread Online
Fortune magazine, July 18, 2022–Yvonne lauHundreds of thousands of homebuyers in at least 80 Chinese cities are refusing to pay their mortgages as property developers struggle to complete their building …
Foreign Purchases of U.S. Homes Fall to New Low
Wall Street Journal, July 18, 2022–Nicole Friedman (subscription)Foreign purchases of U.S. homes slid for a fifth straight year as the pandemic continued to limit international travel and the dollar strengthened.https://www.wsj.com/articles/foreign-purchases-of-u-s-homes-fall-to-new-low-11658152826?
Mapped: Where U.S. Housing is Growing
Acios, July 18, 2022–Erin DavisIn census data out this month, Axios noticed a massive boom in suburban homebuilding, especially in Texas. Why it matters: You can see the rings around …
As Fed Tightens, Economists Worry It Will Go Too Far
Wall Street Journal, July 17, 2022–Gwynn Guilford and Anthony DeBarrosEconomists increasingly expect the Federal Reserve, in its efforts to push down inflation, to raise rates enough to trigger a recession, …
U.S. Retail Sales Beat Expectations; Manufacturing Production Slumps
Reuters, July 15, 2022–Lucia MutikaniU.S. retail sales rebounded strongly in June as Americans spent more on gasoline and other goods amid soaring inflation, which could allay fears of an imminent …
FHA Promises Updates to Its Renovation Programs
National Mortgage News, July 15, 2022–Brad Finkelstein (subscription)As part of its plans to address the housing shortage, the Federal Housing Administration is planning to revamp its Section 203(k) home renovation …
GOP Congressmen Demand Greater Oversight Of Fannie, Freddie
National Mortgage Professional, July 15, 2022–David Krechevsky10 Republican members send letter to FHFA Director Sandra Thompson expressing concern about GSEs going beyond their approved roles.https://nationalmortgageprofessional.com/news/gop-congressmen-demand-greater-oversight-fannie-freddie
Citigroup’s Profit Falls As It Preps For Potential Loan Losses
Wall Street Journal, July 15, 2022–David Benoit (subscription)Results from the nation’s big banks are showing that consumers and businesses remained healthy in the second quarter. But the banks are also …