Benzinga, Mar. 17, 2022–Phil Hall“Rates are now roughly a full percentage point higher than a year ago and continue to hamper refinance activity. Refinances declined for both conventional and government …
Category: Top National News
The Decline in Home Equity Lending Continues Unabated
Inside Mortgage Finance, Mar. 17, 2022–Dennis HollierThe Federal Reserve reported that outstanding home equity debt fell to $395.63 billion in the fourth quarter, capping a 10.4% decline for the year. …
Homes Earned More for Owners Than Their Jobs Last Year
Wall Street Journal, Mar. 17, 2022–Nicole Friedman (subscription)In this booming housing market, many homeowners earned more last year from home appreciation than from their jobs. Zillow said home values rose …
U.S. Retail Sales Grow at Slower 0.3% Pace as High Inflation Takes a Bite Out of the Economy
MarketWatch, Mar. 16, 2022–Jeffry BartashSales at U.S. retailers slowed sharply in February, rising a scant 0.3%, and Americans probably bought fewer goods like groceries, consumer electronics and furniture and after …
House-Flipping Tech Powers a Boom in Single-Family Rentals
Bloomberg, Mar. 15, 2022–Patrick SissonIn Phoenix’s hot housing market, investors are turning to new tools that help them quickly buy, repair and rent out large portfolios of homes.https://www.bloomberg.com/news/articles/2022-03-15/how-technology-is-fueling-the-single-family-rental-boom
InstaMortgage Merges with California Brokerage All Cal Financial
Mortgage Professional America, Mar. 16, 2022–Candyd MendozaFintech lender InstaMortgage and California-based brokerage All Cal Financial announced their businesses will merge.https://www.mpamag.com/us/news/general/instamortgage-merges-with-california-brokerage-all-cal-financial/398797
Angel Oak Ends 1st Year As Public Company With $1.1B Loans In Portfolio
National Mortgage Professional, Mar. 15, 2022–David KrechevskyThe real estate finance company went public last June with a focus on acquiring and investing in first-lien non-QM loans as well as other …
Purchase Market Could Exacerbate Mortgage Lenders’ Cybersecurity Weak Spots
HousingWire, Mar. 16, 2022–Maria VolkovaRick Hill, vice president of industry technology at the Mortgage Bankers Association, said that lending is a critical component of the nation’s infrastructure, which is one …
Mortgage Demand Falls as Interest Rates Surge to Multiyear Highs
CNBC, Mar. 16, 2022–Diana OlickA sharp jump in mortgage rates last week soured demand from both current homeowners and potential homebuyers, causing mortgage applications to drop, according to the Mortgage …
Wholesale Giant UWM Branches Out Into Bank Statement Loans
Inside Mortgage Finance, Mar. 16, 2022–Brandon Ivey, Paul MuoloWednesday morning, the Michigan-based wholesale giant said to “better serve” self-employed borrowers, it will accept personal or business bank statements instead of …