Bloomberg, Mar. 9, 2023–Natalie Wong, John GittelsohnWall Street titans pride themselves on knowing when to take risks, especially in moments of uncertainty. But as borrowing costs soar and the work-from-home …
Category: Top National News
Here’s How Sharply Mortgage Refinancing Has Dropped
Yahoo!Finance, Mar. 8, 2023–Gabriella Cruz-MartinezTo say home refinancing activity is a sliver of what it was two years ago is no exaggeration. (MBA mention)https://finance.yahoo.com/news/heres-how-sharply-mortgage-refinancing-has-dropped-off-213344221.html
How Many Servicing-Related Bills Are Out There? About 500
Inside Mortgage Finance, Mar. 9, 2023–Sam ManasState lawmakers from coast to coast are working on a plethora of bills aimed at the business of servicing residential loans, according to a …
CMG Adds to its Retail Network, Buys MSRs
Inside Mortgage Finance, Mar. 7, 2023–Paul MuoloCMG Mortgage, San Ramon, CA, Monday announced it had purchased the retail branch network of Homebridge Financial Services, Iselin, NJ, for an undisclosed sum. …
Ohio Bank Paying $9M To Settle Redlining Complaint
National Mortgage Professional, Mar. 7, 2023–Keith GriffinIn the settlement, the DOJ said PNB, headquartered in Newark, Ohio, relied on its branch network, mortgage lenders concentrated in majority-white neighborhoods, and internal …
NAHB: 49% Of U.S. Households Can’t Afford A $250K Home
National Mortgage Professional, Mar. 6, 2023–David KrechevskyOf the 132.5 million households nationwide, nearly 49% are unable to afford a house priced at $250,000.That’s according to the National Association of Home …
Older Mortgage Applicants are More Likely to be Rejected, Study Finds
Yahoo Finance, March 6, 2023–Gabriella Cruz-MartinezThe older you get, the weaker your chances are at getting approved for a mortgage or refinance, according to a new study from the Center …
How Private Mortgage Insurers Plan to Weather 2023 Downturn
National Mortgage News, Mar. 6, 2023–Brad Finkelstein (subscription)The active private mortgage insurers have sufficient capital on hand to meet the requirements to keep their counterparty status with Fannie Mae and …
February, a Tough Month for GSE Loan Sales
Inside Mortgage Finance, Mar. 6, 2023–Dennis HollierResidential lenders securitized $35.4 billion of product through Fannie Mae and Freddie Mac in February, a sequential decline of 26.4% and an ugly year-to-date …
Redfin: 53% Fewer Affordable Homes For Sale In 2022
National Mortgage Professional, Mar. 3, 2023–David KrechevskyRoughly one in five (21%) U.S. homes for sale in 2022 was affordable for the typical household, down from two in five (40%) and …