American Banker, May 11, 2022–Kate Berry (subscription)A dizzying number of policy changes and enforcement actions by the Consumer Financial Protection Bureau in recent weeks has prompted aggressive pushback from banks …
Category: Top National News
The Challenges in Underwriting for Today’s Self-Employed Borrowers
National Mortgage News, May 11, 2022–Spencer Lee (subscription)As lenders seek new clients, many are now looking for opportunities among self-employed and small-business owners. But the bar for self-employed borrowers to …
Duke Realty Rejects Nearly $24 Billion Buyout Offer From Prologis
Wall Street Journal, May 11, 2022–Chris Wack (subscription)Duke Realty Corp. on Wednesday rejected the nearly $24 billion buyout offer from the warehousing giant Prologis Inc., calling the unsolicited offer insufficient.https://www.wsj.com/articles/duke-realty-rejects-nearly-24-billion-buyout-offer-from-prologis-11652282895?mod=hp_lead_pos3
Is loanDepot in Play? No Strategic Review Underway
Inside Mortgage Finance, May 11, 2022–Paul Muolo, Brandon IveyA few weeks back, rumors were circulating around the mortgage industry that loanDepot might be up for grabs, but after a conference …
Adjustable-Rate Mortgage Demand Surges to 14-Year High…
CNBC, May 11, 2022–Diana Olick Mortgage applications to purchase a home rose 5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand …
The Mortgage Refi Boom Is Running Out
Wall Street Journal, May 10, 2022–Orla McCaffrey (subscription)Rising interest rates dealt a critical blow to mortgage originations in the first quarter. (MBA mention)https://www.wsj.com/articles/the-mortgage-refi-boom-is-running-out-11652206979?mod=flipboard
Fed Confronts Why It May Have Acted Too Slowly on Inflation
New York Times, May 10, 2022–Jenna SmialekCentral bankers have been asking whether they should have reacted faster to rising inflation last year — and are learning from the recent past.https://www.nytimes.com/2022/05/10/business/economy/federal-reserve-inflation.html?campaign_id=2&emc=edit_th_20220511&instance_id=60998&nl=todaysheadlines®i_id=42063674&segment_id=91876&user_id=e670283fb4fff3d4391d6f88569ad498
Doma Lays Off 15% of Work Force as Q1 Revenue Declines
HousingWire, May 10, 2022–Brooklee HanExecutives attributed the lower revenue and increased net loss to an overall downturn in the mortgage market. (MBA mention)https://www.housingwire.com/articles/doma-lays-off-15-of-work-force-as-q1-revenue-declines/
Profits Fall for Dan Gilbert’s Rocket Companies as Mortgage Industry Slows
Detroit Free Press, May 10, 2022–JC ReindlThe slowdown in the mortgage business is being felt by Dan Gilbert’s Rocket Companies, even as his Detroit-based mortgage lending operation remains highly profitable. …
What Homebuyers Need to Know as Mortgage Rates Climb in Tough Market
NBC News, May 10, 2022With low inventory and record-high prices, waiting longer can have fixed mortgages tick up even higher. However, the average 30-year fixed mortgage rate has now climbed …