Wall Street Journal, Feb. 25, 2022–Gwynn Guilford (subscription)The Federal Reserve’s preferred measure of inflation hit a new 38-year high in January, as strong consumer demand and pandemic-related supply constraints propelled …
Category: Top National News
California Mortgage Firm Lays Off More than 50 Workers
Mortgage Professional America, Feb. 25, 2022–Tony CantuCalifornia-based Winnpointe Corp., doing business as Interactive Mortgage, plans to lay off more than 50 employees by April, according to a regulatory filing.https://www.mpamag.com/us/news/general/california-mortgage-firm-lays-off-more-than-50-workers/326686
Ginnie Considering Changes to Support CDFIs
Inside Mortgage Finance, Feb. 25, 2022–Monica HoganGinnie Mae is looking for ways to support mortgage lending by community development financial institutions, that is, entities that focus on low-income communities, have …
Foreclosure Starts Soar While Pending Home Sales Sink
Benzinga, Feb. 25, 2022–Phil HallThe U.S. housing market appears to have begun 2022 on the wrong foot, with newly published data on January activity reporting foreclosures at their highest levels …
Mortgage Rates Dip Because of Global Tensions
Washington Post, Feb. 24, 2022–Kathy OrtonMortgage rates’ upward trajectory was halted by developments in Ukraine. According to the latest data, released Thursday by Freddie Mac, the 30-year fixed-rate average fell …
Will Regulatory Scrutiny Chill Bank M&A This Year–or Hasten It?
American Banker, Feb. 25, 2022–Jim Dobbs (subscription)Eddy Arriola, the chairman and CEO of Apollo Bancshares in Miami, says his company is not looking to sell. Buyers are circling anyway — …
Opendoor Loses More Money than Zillow in 2021
HousingWire, Feb. 24, 2022–Matthew BlakeZillow has been pilloried for diving headfirst into iBuying only to announce the money-losing enterprise’s demise in November. Meanwhile, Opendoor, the OG of an iBuying company …
UWM Sues Brokers Who Still Do Business with Rocket Mortgage
Detroit News, Feb. 24, 2022–Breana NobleUnited Wholesale Mortgage Holdings Corp. this week sued two of its mortgage brokers who have continued to do business with Rocket Mortgage after forbidding them …
Gilbert’s Rocket Companies Saw $6 Billion in Profits in 2021
Detroit Free Press, Feb. 24, 2022–JC ReindlDan Gilbert’s Rocket Companies is starting to feel the industry-wide slowdown in the mortgage business, although it still made a strong $6 billion in …
Condo Questionnaire Causing Some Boards to Boycott Fannie, Freddie Financing
Orange County Register, Feb. 24, 2022–Jeff LazersonA fast-developing crisis is hitting condominium association boards and property management firms across the country tasked with filling out “draconian” questions required of HOA …