Associated Press, July 15, 2022Wells Fargo, the nation’s largest mortgage lender, saw its second-quarter revenue and profit decline as rising interest rates pushed people out of the housing market. (MBA …
Category: Top National News
Non-Agency MBS Issuance Down 22% in 2Q22
Inside Mortgage Finance, July 15, 2022–John BancroftProduction of new non-agency MBS fell sharply in the second quarter, although some sectors held up better than others.https://www.insidemortgagefinance.com/articles/225156-non-agency-mbs-issuance-down-22-in-2q22?v=preview
Opinion: Trusting Your Data is Key to Taming Origination Costs
HousingWire, July 15, 2022–Seth AppletonMISMO President says the ability to electronically sign documents is only part of the battle when it comes to digitizing mortgages.https://www.housingwire.com/articles/opinion-trusting-your-data-is-key-to-taming-origination-costs/
Act Quickly to Avoid Foreclosure
The Housing Scene (UExpress), July 15, 2022–Lew SichelmanExperts say that a 2008-style housing crash is unlikely to happen now, if only because lending standards are much tighter than they were …
How Multifamily Borrowers are Adjusting to Rising Interest Rates
Wealth Management Real Estate, July 15, 2022–Bendix AndersonWith the recent rate hikes from the Federal Reserve, borrowing costs for multifamily assets are rising as well. This is disrupting sales volume …
It’s Official: Fridays in the Office are Over
Washington Post, July 15, 2022–Abha BhattaraiEmployers are still divided on how to deal with this new reality, where just 30 percent of office workers swipe in on the last day …
Fix-and-Flip Lender Kiavi Lays Off 7% of Employees
HousingWire, July 14, 2022–Connie KimNon-QM lender Kiavi, which specializes in fix-and-flip and investor loans, has laid off 39 employees.https://www.housingwire.com/articles/fix-and-flip-lender-kiavi-lays-off-7-of-employees/
LendingTree Denies It’s the Source of a Data Breach Affecting 200,000
National Mortgage News, July 14, 2022–Carter Pape (subscription)LendingTree recently acknowledged it suffered two data breaches in the past year, but it said allegations that it was responsible for a larger …
Mortgages are in Free Fall at JPMorgan Chase
HousingWire, July 14, 2022–Flávia Furlan NunesJPMorgan Chase leaders Thursday provided a glimpse of what’s to come as mortgage lenders begin sharing performance data for the second quarter – and it’s …
Mortgage Relief Plans May Help Struggling Borrowers Stay Put
Orange County Register, July 14, 2022–Jeff LazersonNumerous options abound for borrowers dealing with inflation, a spike in COVID-19 and dwindling savings. (MBA mention)https://www.ocregister.com/2022/07/14/mortgage-relief-plans-may-help-struggling-borrowers-stay-put/