Tampa Bay Times, Apr. 29, 2022–Jay CridinWith its residential mortgage business slumping to start 2022, the parent company of St. Petersburg’s First Home Bank said it cut its workforce by …
Category: Top National News
Redwood to Acquire Bridge-Loan Originator; Profit Declines in 1Q
Inside Mortgage Finance, Apr. 29, 2022–Brandon IveyRedwood Trust, a top player in correspondent acquisitions, plans to boost its involvement in business-purpose lending by acquiring Riverbend Funding, an originator based in …
Spring Homebuyers Feel the Heat of Rising Mortgage Application Costs
Mortgage Professional America, Apr. 29, 2022–Candyd MendozaThe Mortgage Bankers Association’s new Purchase Applications Payment Index, which measures how new monthly mortgage payments vary across time relative to income, edged up …
Mr. Cooper Lays Off 250, Predicts Two Tough Quarters Ahead
National Mortgage News, Apr. 29, 2022–Brad Finkelstein (subscription)While Mr. Cooper had a strong earnings performance in the first quarter, going forward, at least in the near term, will be a …
Cryptocurrency Group Lobbies Congress Against Bills that Target Russian Oligarchs
CNBC, Apr. 29, 2022–Brian SchwartzThe Mortgage Bankers Association, an advocacy group for the real estate finance industry, is also lobbying against a bill that’s intended to “expose the assets of …
Stopping ‘Legal’ Tax Lien Thievery
The Housing Scene (UExpress), Apr. 29, 2022–Lew SichelmanDeborah Foss is a 67-year-old grandmother in New Bedford, Massachusetts. She no longer has a roof over her head — largely because an …
Mr. Cooper Delivers $658M in Profit in Q1 on Strength of MSRs
HousingWire, Apr. 28, 2022–Flavia Furlan NunesNonbank mortgage lender and servicer Mr. Cooper Group reported net income of $658 million in the first quarter of 2022, increasing its profits by a …
5 Easy Ways to Get Your Hands on $1 Million
Orange County Register, Apr. 28, 2022–Jeff LazersonThe median home price reached $1 million or more in Orange County and in 127 Southern California ZIP codes. Here’s five ways to find …
Downtown Department Stores Get a Residential Revival
Bloomberg, Apr. 28, 2022–Vince BuerrieriThe giant flagships of 20th century retail chains like the May Company are finding new uses as high-end apartment buildings.https://www.bloomberg.com/news/features/2022-04-28/downtown-department-stores-make-a-comeback-as-luxury-housing
Freddie Mac Now Worth $31.7B but G-Fee Income Falls
HousingWire, Apr. 28, 2022–Georgia KromreiFreddie Mac reported net income of $3.8 billion for the first quarter of 2022, an increase of 37% year-over-year, even as purchase and refinance activity continued …