Wealth Management Real Estate, May 31, 2022–David BodamerBulwarked by strong demand from renters, rising rents and some constraints on existing supply, single-family rentals in recent years rapidly emerged to become …
Category: Top National News
Fed Fears Hit Mortgage Bonds, Attracting Investors
Wall Street Journal, May 31, 2022–Matt Wirz (subscription)A $5.5 trillion bond market supporting the U.S. mortgage industry is being roiled by fears it will be hit in the Federal Reserve’s …
Freddie Mac Expands Use of Bank Account Data for Verifications
National Mortgage News, May 27, 2022–Bonnie Sinnock (subscription)Freddie Mac confirmed an earlier promise by the head of its single-family division that it would be further extending the types of borrower …
CFPB Wants Lenders to Disclose Reason for Denial of Credit
HousingWire, May 27, 2022–Maria VolkovaThe CFPB said that all lenders, including those using complicated algorithmic models for underwriting decisions, must abide by ECOA and disclose why a customer is denied …
Lumber Prices Slump With Rising Interest Rates
Wall Street Journal, May 30, 2022–Ryan Dezember (subscription)Lumber prices have come crashing down in a new sign of how rising interest rates are deflating markets that boomed during the pandemic.https://www.wsj.com/articles/lumber-prices-slump-with-rising-interest-rates-11653835230?mod=hp_lead_pos8
Freddie Mac Single-Family Division Chief Announces Resignation
HousingWire, May 27, 2022–Georgia KromreiDonna Corley, head of the single-family division at Freddie Mac, is stepping down from her post at the government-sponsored enterprise.https://www.housingwire.com/articles/freddie-mac-single-family-donna-corley-out/
Equifax To Tell Lenders Of Potential Errors In Credit Scores
National Mortgage Professional, May 27, 2022–Steven GoodeEquifax, one of the country’s three largest consumer credit reporting agencies, has or will notify lenders that a coding issue introduced during a technology …
Households Boosted Spending in April but Drew Heavily on Savings
Wall Street Journal, May 27, 2022–Gabriel T. Rubin (subscription)U.S. households boosted spending for a fourth straight month in April, but the savings rate fell to the lowest in 14 years, …
Payments for New Mortgages are Soaring. That’s Why Home Sales are Slowing
Marketplace, May 27, 2022–Mitchell HartmanThe median monthly mortgage payment for a homebuyer in April soared to nearly $1,900, a 43% increase from one year ago, according to the Mortgage Bankers …
Jumbo-Conforming Spread Reaches Near Record Levels
Inside Mortgage Finance, May 27, 2022–Brandon IveyInterest rates on jumbo mortgages are currently much lower than those on comparable conventional-conforming loans. Two factors appear to be driving the spread: uncertainty …