CNBC, July 6, 2022–Lisa RizzoloRates fell 10 basis points last week and have declined 24 basis points in the last two weeks, but total mortgage demand dropped 5.4% from one …
Category: Top National News
Title Insurers are Prepared for Impending Downturn: Fitch
National Mortgage News, July 6, 2022–Brad Finkelstein (subscription)Title insurance underwriters are well-prepared to survive the economic pressures roiling the U.S., as their statutory capital levels should remain strong, a Fitch …
Bank/Thrift Retail Originations Plummet
Inside Mortgage Finance, July 6, 2022–John BancroftMortgage-banking activity significantly declined at commercial banks and savings institutions in the first three months of the year, according to a new Inside Mortgage …
Manhattan Home Prices Hit a Record While Sales Frenzy Winds Down
Bloomberg, July 6, 2022–Jennifer EpsteinManhattan home sales showed continued strength in the second quarter, though there are clear signs that fears of a recession are slowing down the market.https://www.bloomberg.com/news/articles/2022-07-06/manhattan-home-prices-hit-a-record-while-sales-frenzy-winds-down?srnd=premium#xj4y7vzkg
Wyndham Capital Mortgage Conducts Two Layoffs in June
HousingWire, June 5, 2022–Connie KimLess than a month after Wyndham Capital Mortgage said it planned to pink slip more than 40 employees, the consumer direct lender conducted another round of …
Wells Fargo Lays Off Another 107 Workers in Des Moines Metro as Mortgage Market Cools
Des Moines Register (Iowa), July 5, 2022–Tyler JettWells Fargo & Co. announced another round of layoffs in the Des Moines metro last week, more than doubling the number of workers …
Redwood Trust Finalizes Acquisition of Lender Riverbend
HousingWire, July 5, 2022–Bill ConroySpecialty finance company Redwood Trust Inc. completed its acquisition of bridge lender Riverbend Funding LLC, which has a funded portfolio of more than $1.5 billion single-family …
Lenders’ Use of Rent Data in Loan Decisions Helps Homebuyers, But Dangers Lurk
National Mortgage News, July 5, 2022–Penny Crosman (subscription)The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But …
Baby Boomer Mortality Expected To Have Minimal Impact On Housing Supply
Natioanl Mortgage Professional, July 5, 2022–Katie JensenMore than 4 million existing-homes for sale annually over the next decade will come from the aging and mortality of older homeowners, yet sustained …
FHFA LLPA Changes Hit High-Balance, Second-Home Deliveries
Inside Mortgage Finance, July 5, 2022–John BancroftLenders quickly pulled back on their sales of high-balance mortgages and second-home loans to Fannie Mae and Freddie Mac as soon as new pricing …