National Mortgage News, June 6, 2022–Bonnie Sinnock (subscription)Ginnie Mae is exploring the possibility of commingling paper and electronic promissory notes in securitized mortgage pools it insures, something issuers have been …
Category: Top National News
Hilton Hotel to Reopen After Sale, Accelerating Times Square Comeback
Wall Street Journal, June 6, 2022–Craig Karmin (subscription)A 478-room hotel near the heart of New York City’s Times Square is poised to reopen under new ownership after closing two years …
Industry Supports FHA’s 40-Year Loan Term Option–With Caveats
HousingWire, June 6, 2022–Maria VolkovaThe Mortgage Bankers Association, Housing Policy Council, National Association of REALTORS and the American Bankers Association agreed a 40-year loan modification should be a permanent fixture …
Rising Rates Are Scaring Away Investors—What This Means For Homebuyers
Forbes, June 6, 2022–Natalie CampisiInvestors have played an increasingly larger role in the home buying market, representing a record-high 26.9% of home purchases in October 2021, according to a recent …
As Mortgage Market Cools, Fraud Risk Heats Up
American Banker, June 3, 2022–Kyle Campbell (subscription)Risky loan applications have been trending up for the past year, rising 75% during 2021, according to the real estate analytics group CoreLogic, which …
Movement Mortgage Agrees to Resolve Discrimination Claims
National Mortgage News, June 3, 2022–Spencer Lee (subscription)Movement Mortgage agreed to resolve racial discrimination and disparate treatment claims by allocating $75,000 to organizations working toward equitable housing solutions.https://www.nationalmortgagenews.com/news/movement-mortgage-agrees-to-resolve-discrimination-claims?position=editorial_1&campaignname=V2_NMN_Daily_2021-06062022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_NMN_Daily_2021%2B%27-%27%2B06062022&bt_ee=DeSmydjLVQliSffynfjmCiCHBKag5Y1QZq9V95njswT1jJAQHWSOuPf0CToZPbB%2B&bt_ts=1654509713249
Delinquency Rate For Commercial Mortgage-Backed Securities In Largest Decline Of 2022
Benzinga, June 4, 2022–Phil HallThe delinquency rate for commercial mortgage-backed securities (CMBS) took on its biggest decline of the year in March, according to new data from Trepp LLC.https://www.benzinga.com/news/22/06/27552300/delinquency-rate-for-commercial-mortgage-backed-securities-records-biggest-decline-of-2022
Mortgage Jobs Recorded Small Seasonal Gain Despite Layoffs
National Mortgage News, June 3, 2022–Bonnie Sinnock (subscription)The number of people employed by nonbanks rose to 426,700 in April from an upwardly revised 424,200 in March, according to the statistics …
Layoffs Begin at loanDepot, Continue At Mr. Cooper Group
National Mortgage Professional, June 3, 2022–Steven GoodeThe “headcount reductions” have begun at loanDepot, as an unknown number of employees have been let go, while a second round has taken place …
The New Math of Reverse Mortgages for Retirees
Wall Street Journal, June 3, 2022–Lori Ioannou (subscription)For decades the industry’s image was tainted by horror stories about borrowers who faced foreclosure, and surviving spouses who were evicted. But today, …