American Banker, Dec 3, 2020–Hannah Lang (subscription)Fannie MAe hasn’t completed any credit risk transfers to private investors since the second quarter. Some experts worry the decision — likely spurred by …
Category: Top National News
Guild’s 3Q Income Climbs Over 2,000% on Record Originations
National Mortgage News, Dec. 3, 2020–Brad Finkelstein (subscription)The company had net income of $182.1 million in the third quarter, up from $8.5 million for the same period last year. Its …
What Drove Mortgage Industry Gains in the Third Quarter?
MReport, Dec. 3, 2020–Cristin EspinosaOne of the key findings from MBA’s latest report was that the average pre-tax production profit was 203 basis points in Q3. This is an increase …
Average IMB Made over $5,500 in Profit Per Loan in Q3
HousingWire, Dec. 3, 2020–James KleimannIndependent mortgage banks and mortgage subsidiaries of chartered banks saw an average net gain of $5,535 on each loan they originated in the third quarter of …
Almost Half of All Tenants Likely to Reduce Square Footage–Survey
Mortgage Professional America, Dec. 3, 2020–David KitaiWhile 65% of survey respondents said they are personally comfortable with returning to the office, only 59% said their employees or colleagues feel the …
Fannie and Freddie Need ‘Significant Capital’ to Leave Conservatorship, Mnuchin Says
HousingWire, Dec. 3, 2020–Kelsey RamirezIn a hearing before the House Financial Services Committee, Treasury Secretary Steven Mnuchin said no definite plans have been made for the future of Fannie Mae …
Senate Confirms Fed Economist Christopher Waller to the Fed Board as Judy Shelton’s Path Narrows
Washington Post, Dec. 3, 2020–Rachel SiegelThe Senate on Thursday confirmed Christopher J. Waller to the Federal Reserve Board of Governors, in what could be President Trump’s last addition to the …
Pandemic Making it Harder for Self-Employed Borrowers to Get a Mortgage
Orange County Register, Dec. 3, 2020–Jeff LazersonStarting Dec. 14, Fannie Mae will require self-employed borrowers to cough-up the most recent three months of business bank statements to support the level …
Mortgage Rates Sink to Record Lows Again
Washington Post, Dec. 3, 2020–Kathy OrtonThe 30-year fixed mortgage rate, the most popular loan product, sank to its lowest level on record this week, marking the 14th historic low it …
Explaining the Frenzy in the Housing Market
New York Times, Dec. 3, 2020–Issi RomemEver since the housing market has emerged from its pandemic-driven freeze in late spring, there has been a frenzy of home buying and a …