HousingWire, May 24, 2022–Bill ConroyDespite the turbulence in the U.S. economy fueled by inflation, international tensions and rising mortgage rates, the private-label securities (PLS) market recorded a strong first quarter, …
Category: Top National News
Fed Searches for the Magic Number to Cool a Red-Hot U.S. Housing Market
Wall Street Journal, May 24, 2022–Nick Timiraos, Nicole Friedman (subscription)When the Federal Reserve set out to cool the economy and slow inflation in the past, it counted on the housing …
Rival Sees Advantages in ICE-Black Knight Merger
National Mortgage News, May 24, 2022–Brad Finkelstein (subscription)The third-largest loan origination system provider, Mortgage Cadence, sees an opportunity to pick up business if the merger between No. 1 ICE Mortgage …
PennyMac Cutting 207 Jobs
National Mortgage Professional, May 24, 2022–Doug PageCalifornia-based PennyMac Financial Services Inc., a mortgage originator and servicer, will cut 207 jobs in the Golden State.https://nationalmortgageprofessional.com/news/pennymac-cutting-207-jobs
Profits Grow at FHLBs
Inside Mortgage Finance, May 24, 2022–Dennis HollierThe Federal Home Loan Bank System reported combined net income of $502 million for the first quarter, up 15.4% from the previous three-month period, …
Rising Interest Rates Concern Apartment Building Owners, Renters
Wall Street Journal, May 24, 2022–Konrad Putzier and Will Parker (subscription)Investors who bid up apartment-building prices to record levels over the past year are starting to come under pressure as …
Manhattan Return-to-Office Plans Face Persistent Headwinds over COVID, Safety
Reuters, May 24, 2022–David RandallNew York has lagged others major markets in the percentage of employees regularly working in the office, in part because of high usage rates of public …
Ocwen Stock Buyback Spotlights Strategy Nonbanks Are Weighing
National Mortgage News, May 23, 2022–Bonnie Sinnock (subscription)Investors could gravitate to a company willing to invest in itself in a challenging market, but share repurchases have downsides.https://www.nationalmortgagenews.com/news/ocwen-stock-buyback-spotlights-strategy-nonbanks-are-weighing?
Fratantoni: Why FHFA and GSEs Should Revisit Their Pricing Framework
HousingWire, May 23, 2022–Mike FratantoniPotential homebuyers in today’s market are facing a number of challenges, including increasing mortgage rates and a sizeable supply and demand imbalance that is pushing home-price …
Proposed VA Appraisal Law Looks to Even the Playing Field
HousingWire, May 23, 2022–Maria VolkovaA piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran …