National Mortgage News, June 1, 2022–Andrew Martinez (subscription)Lending fintech Tomo Networks cut nearly a third of its workforce Tuesday and will dial back its expansion plans, the company confirmed Wednesday.https://www.nationalmortgagenews.com/news/mortgage-fintech-tomo-cuts-nearly-a-third-of-its-workforce
Category: Top National News
United Wholesale Mortgage Pays $2.75M to Settle Unpaid Overtime Claims
Detroit Free Press, June 1, 2022–JC ReindlPontiac-based United Wholesale Mortgage has agreed to pay up to $2.75 million to settle arbitration claims that it failed to pay some employees for …
Fitch: Mortgage Origination Estimates Have Been Too Optimistic
Inside Mortgage Finance, June 1, 2022–Brandon IveyCrystal ball readers weren’t pessimistic enough regarding their projections for how much mortgage originations will decline this year, according to a new report from …
The Economy Is Flashing Yellow Signs for CRE Investors
Wealth Management Real Estate, June 1, 2022–Elaine MisonzhnikThe high rate of inflation and the Fed’s plans to raise interest rates could slow the commercial real estate sector’s momentum.https://www.wealthmanagement.com/investment-strategies/flashing-yellow-signs?
Why Home Loans Today Aren’t What They Were in the Past
Keeping Current Matters, June 1, 2022In today’s housing market, many are beginning to wonder if we’re returning to the riskier lending habits and borrowing options that led to the housing …
Mortgage Demand Falls to the Lowest Level Since the End of 2018, Even as Interest Rates Ease a Bit
CNBC, June 1, 2022–Diana OlickApplications for a mortgage to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. …
Higher Interest Rates, Valuations Limit Loan Modification Benefits
National Mortgage News, May 31, 2022–Spencer LeeWhile loan modifications are bringing much-needed assistance to borrowers who exited forbearance in recent months, the impact of the relief is coming in well …
Dreaded Commute to the City Is Keeping Offices Mostly Empty
Wall Street Journal, May 31, 2022–Konrad Putzier (subscription)The Covid-19 pandemic led to a surge in remote work, emptying out office towers as more people worked from home. Cities with longer …
What Will It Take To Get Reluctant Home Sellers To Move?
MarketWatch, June 1, 2022–Holden LewisYou’ve heard of golden handcuffs. That’s when a company compensates you generously to discourage you from taking a job elsewhere. Some of us restrain ourselves with …
Some Mortgage Companies Expanding Despite Challenges
HousingWire, May 31, 2022–Connie KimWhile many lenders laid off some of their staff to cut costs, others continue opening offices to capitalize on demand from homebuyers. Among them are Geneva …