American Banker, Feb. 7, 2023–Miriam Cross (subscription)This potential triple whammy means that financial institutions may want — or need — to get a head start at strategizing what tools they …
Category: Top National News
Wells Testing the Waters With Two MSR Offerings
Inside Mortgage Finance, Feb. 7, 2023–Paul Muolo (subscription)Wells Fargo is in the market selectively chatting up two bulk packages of mortgage servicing rights, one sized at $20 billion, another at …
HMDA Reporting Requirement Extends to More Banks
National Mortgage News, Feb. 6, 2023–Maria Volkova (subscription)The Office of the Comptroller of the Currency informed banks, which it oversees, that changes have been made to Home Mortgage Disclosure Act …
Home-Buying Companies Stuck With Hundreds of Houses as Demand Slows
Wall Street Journal, Feb. 7, 2023–Will Parker, Nicole Friedman (subscription)As mortgage rates surged, some customers backed out of purchases or needed more time for financing.https://www.wsj.com/articles/home-buying-companies-stuck-with-hundreds-of-houses-as-demand-slows-11675739434?mod=hp_lead_pos5
Latest on the Housing Market
Good Morning America, Feb. 6, 2023The home-buying season is ready to kick into high gear in the coming months. MBA Chief Economist Mike Fratantoni joins GMA to discuss how interest …
82% of Millennial First-Time Homeowners Have Regrets
CNBC, Feb. 6, 2023–Elizabeth GravierMillennials who managed the feat of becoming homeowners have discovered that their piece of the American Dream may turn into a bit of a nightmare.https://www.cnbc.com/select/millennial-regrets-buying-homes/
Consumers Would Pay Mortgage and Car Loans First Among Debts
TheStreet, Feb. 6, 2023–Ellen ChangConsumers who are struggling financially plan to make sure their mortgage and car loans are paid first, according to a Bank of America Securities survey.https://www.thestreet.com/money/consumers-would-pay-mortgage-and-car-loans-first
Freddie QC Chief: Mortgage Defect Rates Remain Elevated
Inside Mortgage Finance, Feb. 6, 2023–Dennis Hollier (subscription)Speaking at a recent Mortgage Bankers Association conference in San Diego, Duane Gilkison, head of Fannie’s loan quality compliance team, noted that originations …
Opinion: Why Fintech ‘Disruption’ Doesn’t Work in Mortgage Servicing
HousingWire, February 6, 2023–Courtney ThompsonAmerica’s $13.3 trillion mortgage servicing sector shouldn’t be “disrupted by financial technology–it should be reimagined with fintech.https://www.housingwire.com/articles/opinion-why-fintech-disruption-doesnt-work-in-mortgage-servicing/
The Slump Persists: MBS Issuance Down Again in January
Inside Mortgage Finance, Feb. 3, 2023–John BancroftNew issuance of agency single-family MBS fell again in January, the 10th straight monthly decline, according to just-released figures from Inside MBS & ABS.https://www.insidemortgagefinance.com/articles/226909-the-slump-persists-mbs-issuance-down-again-in-january?v=preview