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 …
Category: Top National News
ARMs of Mass Destruction
Mortgage Professional America, May 27, 2022–Richard TornePotentially risky ARMs have gained in popularity in recent months. Data from the Mortgage Bankers Association show ARMs now account for almost 10% of …
House Hunters Take Note: the Blazing-Hot Housing Market is Finally Cooling Down
CBS News, May 27, 2022–Khristopher J. BrooksThe combination of rising mortgage rates and skyrocketing home prices have prompted some buyers to bail on the market entirely, thus lowering competition, economists …
Lease Renewals Hit All-Time High
Rents are increasing at record rates, but that has not pushed many residents into looking elsewhere for less expensive apartments.https://www.multihousingnews.com/lease-renewals-hit-all-time-high/
Odd Lots: Cooling, Helping, Russians
The Housing Scene (UExpress), May 27, 2022–Lew SichelmanOwners who are just now putting their homes on the market appear to be an optimistic bunch. Whether they are too hopeful remains …
Wells Fargo Fires Mortgage Staff for Misuse of Appraisal Waivers
National Mortgage News, May 26, 2022–Andrew Martinez (subscription)Wells Fargo fired an undisclosed number of mortgage staff for misconduct over their efforts to obtain waiver appraisals, the bank confirmed Thursday.https://www.nationalmortgagenews.com/news/wells-fargo-fires-mortgage-staff-for-misuse-of-appraisal-waivers?position=editorial_1&campaignname=V2_NMN_Daily_2021-05272022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_NMN_Daily_2021%2B%27-%27%2B05272022&bt_ee=SMJAlstE6TMa7QY3FGKHv7CG%2F89mzHt8gRJ0kfFwa1Ts6WGusItvRnikxTdC2KT8&bt_ts=1653645710236
Unique Loan Offers No Income Threshold for Underserved Homebuyers
Orange County Register, May 26, 2022–Jeff LazersonThe unique loan option offered through Community Development Financial Institutions doesn’t care what applicants look like or where they want to live. The minimum …
MSR Share of Assets at Nonbanks Varies Widely
Inside Mortgage Finance, May 26, 2022–Paul MuoloWith the Federal Housing Finance Agency and Ginnie Mae contemplating how mortgage servicing rights should impact their assessments of nonbanks, a look at how …
Housing Beat: Home Sales Drop, Homeowners Insurance Spikes, Builder Confidence Tanks
Benzinga, May 26, 2022–Phil HallThe U.S. housing market showed unmistakable signs of stalling this week. Despite a decline in mortgage rates, mortgage applications and home sales were down while the …
Lakeview Loan Servicing Faces Multiple Lawsuits Over Data Breach
National Mortgage Professional, May 26, 2022–Katie JensenFlorida-based Lakeview Loan Servicing LLC, the fourth largest loan-servicing company in the nation, is facing at least two proposed class action lawsuits as a …