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, …
Category: Top National News
MBS Issuance Lowest Since July 2019
Inside Mortgage Finance, June 3, 2022–John BancroftNew issuance of single-family agency MBS fell sharply in May to its lowest monthly output since July 2019, according to a new Inside MBS …
Federal Reserve Sees Multiple CRE Markets Softening
GlobeSt.com, June 3, 2022–Erik ShermanAccording to the Federal Reserve, there’s still growth in overall economic activity, but reports on real estate in 11 of its 12 districts suggest that things …
Why Adjustable-Rate Mortgages Are Still Risky
New York Times, June 3, 2022–Ann CarrnsRemember adjustable-rate mortgages? Rising interest rates are again making those mortgages attractive to home buyers because the starting rate is generally lower than the …
Create an Emergency Preparedness Plan
The Housing Scene (UExpress), June 3, 2022–Lew SichelmanIn the face of a natural disaster, protecting your family and your property from harm should be your top priority. But in the …
Bank CEO Compensation Soared Last Year Alongside Surging Stock Prices
American Banker, June 2, 2022–Jordan Stutts (subscription)Strong stock performances and a surge in incentive pay last year fueled a sharp rise in total compensation paid to the CEOs of large …
Vulnerable Borrowers Should Pull Cash-Out Before Inflation Sinks Economy
Orange County Register, June 2, 2022–Jeff LazersonHow much money is in your wallet? How stable is your job or your customer base as recession chatter picks up? If your answers …
Mr. Cooper Lays Off 420 While Mortgage Industry Cuts Mount
National Mortgage News, June 2, 2022–Andrew Martinez (subscription)Mr. Cooper is laying off approximately 420 staff members, or 5% of its total employee base, mostly in originations, it announced Thursday. The …
Freddie Mac’s Broader ADU Criteria Goes into Effect
National Mortgage News, June 2, 2022–Bonnie Sinnock (subscription)The new guidelines for ADU loans the government-sponsored enterprise will buy confirms plans to provide more leeway on the number of units a …
Fed’s Lael Brainard Says Too Soon to Say if Inflation Has Peaked
Wall Street Journal, June 2, 2022–Nick Timiraos (subscription)Federal Reserve Vice Chairwoman Lael Brainard said she expected it would be appropriate for the central bank to raise interest rates by a …