National Mortgage Professional, May 12, 2022–Doug PageComing off an earnings report two days ago that showed his company with $2.3 billion in cash, Rocket Companies CEO Jay Farner predicted in …
Category: Top National News
Senate Confirms Jerome Powell to Second Term Leading Federal Reserve
Wall Street Journal, May 12, 2022–Nick Timiraos (subscription)The Senate confirmed Federal Reserve Chairman Jerome Powell to a second four-year term that is shaping up to be every bit as trying …
For Some Homebuyers, Rising Mortgage Rates Could be a Silver Lining
CBS News, May 12, 2022–Khristopher J. BrooksThe average interest rate on a fixed 30-year mortgage in the U.S. reached 5.53% this week, more than double its level from a year …
Washington D.C.’s 500 Most Influential People
Washingtonian magazine, May 2022MBA President & CEO Robert Broeksmit, CMB applauded the Treasury Department’s move to suspend limits on purchases of select loans, which he warned was causing market disruptions.https://www.washingtonian.com/2022/05/03/washington-dcs-500-most-influential-people/#Banking-Finance
Mortgage Rates Edge Up, Adding Hundreds to Buyers’ Monthly Payments
Washington Post, May 12, 2022–Susan Doyle, Michele LernerMortgage rates continued to climb this week, adding more financial strain on hopeful home buyers as they wade into the competitive spring and …
Housing Beat: Mortgage Rates Keep Climbing As Inventory Levels Slowly Expand
Benzinga, May 12, 2022–Phil HallMore homebuyers were taking out mortgages despite climbing rates while the tight housing inventory is showing signs of improving. Nonetheless, many homebuyers are not optimistic about …
Purchase Lending Bolsters Primary MI Volume in 1Q22
Inside Mortgage Finance, May 12, 2022–John BancroftNew issuance of primary mortgage insurance fell sharply in the first quarter of 2022, but the downturn was cushioned somewhat by a relatively solid …
Jefferson Confirmed by Senate as Federal Reserve Governor
Bloomberg. May 11, 2022–Steven T. DennisThe Senate confirmed economist Philip Jefferson as a Federal Reserve governor on Wednesday evening, adding a third nominee of President Joe Biden to the central …
Caliber Sues CrossCountry after 80 Employees Left for Rival
HousingWire, May 11, 2022–Flavia Furlan NunesTexas-based multichannel lender Caliber Home Loans is accusing Ohio-based CrossCountry Mortgage of executing an “illegal scheme of unfair competition” by targeting its employees, stealing trade …
Julia Gordon Confirmed as New FHA Commissioner
HousingWire, May 11, 2022–Maria VolkovaGordon was narrowly confirmed to be the FHA commissioner. Vice President Kamala Harris cast the deciding vote, breaking a 50-50 tie. Her confirmation brings an end …