National Mortgage News, May 4, 2022–Spencer LeeThe recent slide in mortgage activity reversed course, as weekly volumes picked up for the first time since early March. Gains were reported in …
Category: Top National News
Ginnie Seeks Common Ground with FHFA on Capital Requirements
Inside Mortgage Finance, May 4, 2022–Monica Hogan (subscription)Ginnie Mae hopes to align, where possible, its revised capital requirements for nonbank issuer/servicers with those being formulated by the Federal Housing Finance …
Jumbo Denial Rates Fell to 11% Last Year
Inside Mortgage Finance, May 4, 2022–Brandon Ivey (subscription)The denial rate on non-agency jumbo mortgages dropped to 11.2% in 2021 from 15.5% the year prior — with turn-downs declining for both …
Shark Tank’s Barbara Corcoran Is Betting on Smaller Cities in Real Estate Boom
Bloomberg News, May 4, 2022–Paulina CacheroBarbara Corcoran, Shark Tank star and founder of the real estate brokerage that bears her name, is putting her money on smaller U.S. cities.https://www.bloomberg.com/news/articles/2022-05-04/shark-tank-s-barbara-corcoran-is-betting-on-smaller-cities-in-real-estate-boom
Midsize, Small Markets Led Surging YoY Q1 Home Price Gains
The MReport, May 3, 2022–Demetria C. LesterAccording to the National Association of Realtors’ latest quarterly report, Q1 of 2022 found more markets reaching double-digit annual price gains than the previous …
loanDepot Plans to Launch ‘Digital’ HELOC in Q3
HousingWire, May 3, 2022–Flávia Furlan NunesNonbank heavyweight loanDepot will unveil a home equity line of credit (HELOC) product in the third quarter of 2022, the first offering of its recently …
Macy’s Is Betting Even Bigger on Smaller Stores
May 3, 2022–Kate KingMacy’s is accelerating its rollout of smaller department stores, betting it can attract more shoppers with fewer products and more digital services at stores closer to where …
Broker Sentiment Falls on Industrial. Yes, Industrial
GlobeSt.com, May 3, 2022–Erik ShermanThat super hot industrial market? Brokers are losing confidence and seeing strain, according to the first quarter sentiment report from the Society of Industrial and Office …
New Residential Outshines Mr. Cooper on MSR Markup: $845 Million
National Mortgage News, May 3, 2022–Paul Muolo (subscription)As most any mortgage banker knows, when rates rise — as they have this year (and rapidly) — servicing rights increase in value.https://www.insidemortgagefinance.com/articles/224484-new-residential-out-shines-mr-cooper-on-msr-markup-845-million?
Mortgage Rates are Rising, But the Hot Housing Market is Slow to Cool
Washington Post, May 3, 2022–Rachel SiegelAs the Fed raise interest rates, experts say there are some signs the market is responding. But there’s a long way to go. (MBA mention)https://www.washingtonpost.com/business/2022/05/03/fed-mortgage-rate-inflation/