National Mortgage News, Apr. 8, 2022–Brad Finkelstein (subscription)In a ruling that splits the differences in a long-running legal battle between the positions of Ocwen and the Consumer Financial Protection Bureau, …
Category: Top National News
Homebuyers Get Desperate in Overheated U.S. Spring Sales Season
Bloomberg, Apr. 8, 2022–Prashant GopalSoaring mortgage rates and prices are fueling a rush to seal a deal in market where competition for houses is intense.https://www.bloomberg.com/news/articles/2022-04-08/soaring-mortgage-rates-and-home-prices-fuel-desperation-for-u-s-homebuyers
Overall Mortgage Credit Is Tightening
National Mortgage Professional, Apr. 8, 2022–Keith GriffinMortgage credit is tightening — and it’s not. The Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) decreased in March overall, but certain categories …
The New Risk to the Housing Market
Politico, Apr. 8, 2022–Katy O’Donnell, Aubree Eilza Weaver“Rising [mortgage] rates have certainly added to an already challenging market in terms of affordability, but our forecast is still for a pretty …
GSE Originators Move to Loosen Credit Standards
Inside Mortgage Finance, Apr. 8, 2022–Namrata BhatiaMortgage lenders have been slowly loosening underwriting requirements on residential loans delivered to Fannie Mae and Freddie Mac, according to a new analysis.https://www.insidemortgagefinance.com/articles/224272-gse-originators-move-to-loosen-credit-standards?v=preview
Canada To Ban Foreigners From Homebuying For Two Years
Benzinga, Apr. 8, 2022–Phil HallThe government of Prime Minister Justin Trudeau is seeking to improve the level of housing affordability by enacting a two-year ban on foreign buyers of Canadian …
How To Trim Your Closing Costs
The Housing Scene (UExpress), Apr.8, 2022–Lew SichelmanMany state and local governments offer assistance with down payments and closing costs. Most programs are targeted — say, to first-time buyers, first responders …
Better.com to Employees: Please Quit
HousingWire, Apr. 7, 2022–Flavia Furlan NunesAfter becoming the poster child for callous mass layoffs, mortgage originator Better.com has a new approach to reducing its workforce: the company is now asking …
Mortgage Rates Just Hit 5%. Buying a Home Has Become a Lot More Expensive
NPR, Apr. 8, 2022–Chris ArnoldHere’s a not-so-fun fact: The monthly mortgage payment it takes to buy the typical home in the U.S. is now up by a staggering 55% compared …
Negative Adjustable-Rate Mortgages are Back
Orange County Register, Apr. 7, 2022–Jeff LazersonThis adjustable-rate mortgage product is much different from the olden days of negative amortization mortgages, according to James Shoop, FVP National Sales Director at …