Wall Street Journal, May 20, 2022–Justin Lahart (subscription)Housing might have been staggered a bit by higher rates but hasn’t really taken it on the chin. It could be just a …
Category: Top National News
U.S. Mortgage Rates Pull Back, But Demand is Already Waning
Mortgage Professional America, May 20, 2022–Candyd MendozaU.S. mortgage rates continued to be erratic and unpredictable, with the 30-year fixed mortgage rate slipping to 5.25% this week. (MBA mention)https://www.mpamag.com/us/mortgage-industry/market-updates/us-mortgage-rates-pull-back-but-demand-is-already-waning/406808
Fed’s Bullard Says Recession Will Only Come if There’s a ‘Large Shock’ to Economy
Fox Business, May 20, 2022–Talia KaplanSt. Louis Fed President James Bullard does not expect a recession in the U.S. this year or next unless there’s a “really large shock” to …
HELOC Loans Surged at End of 2021 Amid Rising Mortgage Rates: TransUnion
Fox Business, May 20, 2022–Kelsey RamirezRising interest rates and higher costs have begun to impact consumers across the U.S., but they’re still finding ways to take out loans and pull …
Fannie Mae Says a Recession is Likely to Hit Next Year, And it Could Hit the Housing Market Too
Fortune magazine, May 20, 2022–Tristan BoveFears are mounting that a recession is nearly upon us, with a growing number of banks and investors joining the chorus or warnings that an …
As Rates Rise, Consider Alternatives
The Housing Scene (UExpress), May 20, 2022–Lew SichelmanRising mortgage rates are sidelining many would-be homebuyers. But there are two ways to meet the challenge.https://www.uexpress.com/home/housing-scene/2022/05/20
Better Reportedly Cuts More Workers Ahead of SPAC Merger
National Mortgage News, May 19, 2022–Andrew Martinez (subscription)The lender, which has already spent up to $84.1 million in layoff expenses, cut approximately 920 workers in India, TechCrunch and local media …
Default Management’s Growth Spurs Launch of New Technology
National Mortgage News, May 19, 2022–Bonnie Sinnock (subscription)Technology vendors in the default management space are working to offer faster, less siloed systems to address the resumption of activity in this …
7 Data Breach Reporting Rules Banks Need to Understand
American Banker, May 19, 2022–Carter Pape (subscription)Three bank regulators this month began asking banks to report cybersecurity incidents within 36 hours when such breaches have caused serious harm or are …
More Subprime Borrowers Are Missing Loan Payments
Wall Street Journal, May 19, 2022–AnnaMaria Andriotis (subscription)Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest …