National Mortgage News, July 8, 2022–Teresa Bryce Bazemore (subscription)By leveraging establishing relationships and engaging stakeholders, mortgage companies can play a part in alleviating the home availability and affordability strain, writes …
Category: Top National News
Mortgage Layoffs Erase Past Year’s Headcount Gains for Nonbanks
National Mortgage News, July 8, 2022–Bonnie Sinnock (subscription)The latest numbers for nonbank mortgage headcount show that layoffs and other reduction-in-force moves like voluntary buyouts have erased all the industry gains …
A Carnage in Mortgage Employment: 5,000 Jobs Disappear in a Month
Inside Mortgage Finance, July 8, 2022–Paul MuoloEmployment in the mortgage banking and brokerage sectors plummeted in May as companies shed roughly 5,000 jobs, according to figures released Friday morning by …
As Boomers Age Out, How Will Housing Inventory Be Impacted?
DS News, July 8, 2022–Kyle G. HorstA new study from the Mortgage Bankers Association, “Who Will Buy the Baby Boomers’ Homes When They Leave Them,” analyzes data on housing, demographics …
Title Theft Defrocked
The Housing Scene (UExpress), July 8, 2022–Lew SichelmanInstead of subscribing to Title Home Lock or a similar service, savvy owners can check with their recorder’s office as often as they …
Are Sprout, FGMC, Failures a Harbinger of Hard Times for Non-QM?
National Mortgage News, July 7, 2022–Brad Finkelstein (subscription)While some online are making comparisons to the shutdown of subprime business in 2008, could this situation be more reminiscent of what happened …
Freddie Mac Credits On-Time Rent Payments for First-Time Buyers
Orange County Register, July 7, 2022–Jeff LazersonFor years, many renters have struggled to qualify for a loan, simply because their credit files are too thin to generate a credit score. …
New Fed Paper Finds Surging Home Prices Driven by Demand — Not Supply
Bloomberg, July 7, 2022–Tracy Alloway“Fluctuations in housing demand explain much more of the variation in home sales and price growth than do fluctuations in housing supply,” sais Elliot Anenberg and …
Mortgage Leaders Dive Deep into Diveristy and Inclusion
Mortgage Professional America, July 7, 2022–Candyd MendozaMany mortgage companies are trying to embed diversity and inclusion into their culture – but it is easier said than done.https://www.mpamag.com/us/news/general/mortgage-leaders-dive-deep-into-diversity-and-inclusion/412332
Sprout Mortgage: ‘The Faucet Just Got Turned Off’
National Mortgage Professional, July 7, 2022–David KrechevskySprout Mortgage was averaging $380 million a month in loan volume before it abruptly shut down on Wednesday. That’s the word from a former …