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 …
Category: Top National News
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 …
Chopra’s Expansive Vision for CFPB Authority is Facing Industry Pushback
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 …
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 …