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/
Category: Top National News
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
Hard-Money Loans Can Turn a 10% Return for Rental-Shy Investors
Orange County Register, Feb. 3, 2023–Jeff LazersonWhat about the potential to make some serious shekels by becoming the mortgage bank instead of the landlord? Where else besides private mortgages or …
High Mortgage Rates: The One Reason It’s So Hard for the Fed to Shed Trillions of Dollars in Housing Debt
Dow Jones, Feb 2, 2023–Joy WiltermuthThe Federal Reserve fired off a smaller interest rate increase on Wednesday, while hinting it might soon be toning down its inflation fight, even before …
Housing Market: Level of Activity is ‘Still Very Low’ But Starting to See Increase, Economist Says (VIDEO)
Yahoo! Finance, Feb. 2, 2023–David BriggsMike Fratantoni, Mortgage Bankers Association Chief Economist, joins Yahoo Finance Live to discuss MBA’s forecast for mortgage rates, the housing market, home builder sentiment and …
Nonbanks Keep Growing MSR Share, Delinquencies a Potential Concern
Inside Mortgage Finance, Feb. 2, 2023–John BancroftNonbanks continued to grow servicing market share in late 2022 as the industry braces for a potential deterioration in loan performance.https://www.insidemortgagefinance.com/articles/226888-nonbanks-keep-growing-msr-share?v=preview
Senate Democrats Ask FHFA to Review Nonperforming Loan Programs
National Mortgage News, Feb. 1, 2023–Claire Williams (subscription)Sens. Sherrod Brown of Ohio, the chairman of the Senate Banking Committee, Jack Reed of Rhode Island, Tina Smith of Minnesota, Ron Wyden …
Black Families Shrink the US Wealth Gap But Still Have 70% Less
Bloomberg, Feb. 2, 2023–Kelsey ButlerSince the end of 2019, the average net worth for Black households rose 32% through the third quarter of last year, according to a Wells Fargo …
Ginnie Mae Reduces Seasoning Period for Reperforming Loans
MortgageOrb, Feb. 1, 2023–Michael BatesGinnie Mae has revised its pooling requirements, with a reduced seasoning period for reperforming loans and an allowance that reperforming loans that meet those requirements to …
Lakeview Dethrones Freedom Mortgage as the Largest GNMA Servicer
Inside Mortgage Finance, Feb. 1, 2023–Andras MalatinszkyLakeview/Bayview Loan Servicing added nearly $33 billion to its Ginnie Mae servicing portfolio in the final stretch of 2022, making it the largest player …