National Mortgage News, Mar. 13, 2023–Bonnie Sinnock (subscription)While many things played a role in the bank’s downfall — including the withdrawal of its niche depositors, a social media post from …
Category: Top National News
Efforts to Reach Historically Neglected Segments Grow
Mortgage Professional America, Mar. 13, 2023–Tony CantuThe Mortgage Bankers Association recently launched an initiative meant to reduce the racial homeownership gap and increase homeownership opportunities for minority borrowers. Through the …
Cracks Emerging in U.S. Office Sector: Loan Defaults Fuel Concern of More Pain Ahead
UrbanLand, Mar. 13, 2023–Beth Mattson-TeigAccording to the Mortgage Bankers Association, office is the second largest category behind multifamily with roughly $750 billion in mortgages held by both bank and non-bank …
Jumbo Lender FRB Gets Assistance From the Fed, JPM; Stock Clocked
Inside Mortgage Finance, Mar. 13, 2023–Paul MuoloFirst Republic Bank — the nation’s fourth-largest non-agency jumbo lender — Sunday night disclosed it had “further enhanced and diversified its financial position through …
Three Houses Collapsed Into the Sea. Now, Homeowners in This N.C. Beach Town are Retreating
Washington Post, March 13, 2023–Brady DennisEarly last year, a house crumbled into the sea in the small Outer Banks community of Rodanthe, N.C., home to some of the most rapid …
New Bill Calls for Restoring Mortgage Insurance Tax Deduction
National Mortgage News, Mar. 10, 2023–Brad Finkelstein (subscription)The move has broad support in the mortgage, banking and housing industries; signatories to a November letter sent to Senate Committee on Finance …
Republicans Take Aim at CFPB
National Mortgage Professional, Mar. 10, 2023–Mike SavianoCongressional Republicans are setting their sights on the Consumer Financial Protection Bureau, laying out a series of proposals aimed at completely revamping the agency’s …
Opinion: How the Fed’s 2008 Mortgage Experiment Fueled Today’s Housing Crisis
The Hill, Mar. 10, 2023–Paul H. Kupiec, Alex J. PollockThe authors assert the Fed’s decision to invest trillions of dollars in MBS has helped to push the cost of home …
How Seniors Can Tap their Home’s Equity in Tough Times
Orange County Register, Mar. 9, 2023–Jeff LazersonThere are three important points seniors should consider before extracting home equity.First, seniors considering a loan against their home should note that lenders cannot …
Jumbo Lending Slammed in 4Q, Agency and Non-Agency Alike…
Inside Mortgage Finance, Mar. 9, 2023–John BancroftNon-agency jumbo originations fell 36.4% from the third quarter to an estimated $56 billion in the fourth. Non-agency jumbo remains a stronghold for federally …