HousingWire, Feb. 23, 2022–Brooklee HanDiscount brokerage REX Homes (Real Estate Exchange, Inc.) filed a motion on Thursday in federal district court in Seattle challenging the legality of the National Association …
Category: Top National News
U.S. Homeownership Rate Posts Largest Increase Ever In 2020
National Mortgage Professional, Feb. 23, 2022–David KrechevskyThe homeownership rate for Black Americans (43.4%) is lower than in 2010 (44.2%) and nearly 30 percentage points less than white Americans (72.1%).https://nationalmortgageprofessional.com/news/us-homeownership-rate-posts-largest-increase-ever-2020
As Mortgage Cyber Threats Evolve, More Self-Testing is Needed
National Mortgage News, Feb. 23, 2022–Andrew Martinez (subscription)Mortgage leaders are wary of the increasing cybersecurity risks pervading with the industry’s digital migration, yet many admit they aren’t taking the necessary …
Court Tosses Sacramento’ Mortgage Lending Lawsuit Against Wells Fargo
Sacramento Bee, Feb. 23, 2022–Alexandra Yoon-HendricksA lawsuit Sacramento launched against Wells Fargo three years ago over alleged discriminatory lending is ending without compensation to the city or to people who …
Mortgage Applications Drop to Lowest Level in Over 2 Years
CNBC, Feb. 23, 2022–Lisa RizzoloClimbing mortgage rates are hitting both potential homebuyers and refinance candidates. Total mortgage applications decreased 13.1% last week to the lowest level since December 2019, according …
Loan Quality Stable as Volume Rises
Yardi Matrix blog, Feb. 23, 2022–Paul FiorillaMeasures of commercial mortgage quality, which have remained relatively conservative despite the growth in loan volume and capital flows into the industry, will be …
Don’t Count on Higher Rates to Stall the Housing Market
Bloomberg, Feb. 23, 2022–Stephen Mihm (subscription)Real estate prices can be slow to respond to changes in borrowing costs — if they respond at all. Some economists who have documented this …
Jumbo Originations Flatten Out but Up Sharply for Full Year
Inside Mortgage Finance, Feb. 22, 2022–Brandon IveyHome lenders originated roughly $167.0 billion of jumbo mortgages in the fourth quarter, essentially flat on a sequential basis, according to figures compiled by …
Ocwen Agrees to Pay $1.5M to Settle Class Action
HousingWire, Feb. 22, 2022–Flavia Furlan NunesNonbank mortgage servicer Ocwen agreed to pay $1.5 million to settle a class action lawsuit regarding alleged phone conversations recorded without clients’ consent.https://www.housingwire.com/articles/ocwen-agrees-to-pay-1-5m-to-settle-class-action/
Wells Fargo Sued for Discrimination Against Black Borrowers
National Mortgage News, Feb. 22, 2022–Andrew Martinez (subscription)A homebuyer has filed a class action suit against Wells Fargo, claiming the bank discriminated against African American borrowers through its mortgage origination …