Reuters, May 10, 2022–Dan BurnsU.S. household debt rose to a record $15.84 trillion in the first quarter driven almost entirely by a $250 billion increase in home loan balances, but …
Category: Top National News
loanDepot’s Stock Crushed After 1Q Loss, Production Outlook Weak
Inside Mortgage Finance, May 11, 2022–Brandon IveyStung by higher rates and sinking originations — and with no mortgage servicing markups to fall back on — loanDepot posted a $91.3 million …
Mortgage Credit Availability Continues To Tighten
National Mortgage Professional, May 10, 2022–Keith GriffinThe Mortgage Bankers Association’s Mortgage Credit Availability Index dropped for the second consecutive month. It’s largely driven by a drop in government mortgage credit …
Finance of America Cut 600 Jobs in Q1
HousingWire, May 9, 2022–Flavia Furlan NunesLike many of its competitors, the lender reported that its traditional mortgage business saw reduced originations and margins from January to March, mainly due to …
Housing Supply is Finally Improving, as High Prices and Rising Rates Weigh on Sales
CNBC, May 10, 2022–Diana OlickIn April, inventory was 12% lower than in the same month last year, the smallest year-over-year decline since the end of 2019. Another reading for just …
Mortgage Rates are Rising at Fastest Rate in a Decade (Video)
CBS News, May 9, 2022–Tony Dokoupil, Tanya RiveroMortgage rates in the U.S. are at their highest level since 2009. The average for a 30-year loan jumped a tenth of a …
As the Secondary Market Rethinks Risks, So Too Must Lenders
National Mortgage News, May 10, 2022–Bonnie Sinnock (subscription)From the start, the Biden-era Federal Housing Finance Agency has been focused on its public mission, but now that the pandemic has receded …
Homeowners are Seeking Roommates to Help Pay Their Mortgages
Bloomberg, May 9, 2022–Pauline Cachero, Alice KantorMore buyers in the U.S. are opening up to the idea of renting out a room as expenses surge. (MBA mention)https://www.bloomberg.com/news/articles/2022-05-09/how-to-afford-rising-mortgage-costs-many-americans-are-finding-roommates?srnd=premium
First American Financial Acquires Mother Lode for $300 Million
Mortgage Professional America, May 9, 2022–Tony CantuFirst American Financial Corp. announced its acquisition of Mother Lode Holding Co. – a California-based provider of title insurance, underwriting and escrow services for …
Title Insurance Industry Premiums Spike $7B Year Over Year
HousingWire, May 9, 2022–Brooklee HanThe American Land Title Association saw a nearly 36% year-over-year increase in title insurance premium volume in 2021 for a staggering $7 billion spike, according to …