American Banker, Jan. 12, 2023–Kate Berry (subscription)The Justice Department said in a complaint filed Thursday that City National avoided offering home loans in Black and Hispanic neighborhoods in Los Angeles …
Category: Top National News
Apartment REITs Underperform Peer Group in Q4
GlobeSt.com, Jan. 12, 2023–Erik ShermanSome warning signs have begun to flash on multifamily rents. December was the fourth straight month-over-month decline, according to ApartmentList. Even in the Sun Belt — …
U.S. Trophy-Home Sales Had a Strong 2022, Despite a Second-Half Slowdown
Mansion Global, Jan. 11, 2023–V.L. Hendrickson2022 was a strong year for luxury sales in the U.S., though a slowing market in the second half of the year may point to …
Suddenly, A Barrage of MSR Deals Hits the Market
Inside Mortgage Finance, Jan. 11, 2023–Paul MuoloAfter 10 days or so of tepid auction activity, the servicing sales market picked up a head of steam midweek with a handful of …
Powell: Nonbanks Need Structural Reforms, Not Fed Backstop
American Banker, Jan. 10, 2023–Kyle Campbell (subscription)Federal Reserve Chair Jerome Powell said Tuesday that what big banks were to the 2008 financial crisis, nonbank financial institutions are to the pandemic …
GSE Loan Purchases Head South, 4Q Volume at Just $159 Billion
Inside Mortgage Finance, Jan. 10, 2023–Dennis Hollier (subscription)Fannie Mae and Freddie Mac issued just $158.94 billion of mortgage-backed securities in the fourth quarter, down 36.6% from the previous period. This …
Wells Fargo, Once the No. 1 Player in Mortgages, is Stepping Back from the Housing Market
CNBC, Jan. 10, 2023–Hugh SonInstead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management …
Bob Broeksmit on the State of the Mortgage Industry in 2023
HousingWire, Jan. 10, 2023–Sarah Wheeler (podcast)HousingWire Editor in Chief Sarah Wheeler interviewed Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association. They discussed the state of the mortgage …
A New Reality for GSE Loans: Better FICOs, Lower LTVs
Inside Mortgage Finance, Jan. 9, 2023–Andras MalatinszkyLenders sold $129.5 billion of purchase loans to the GSEs in the fourth quarter, down 34.6% from the previous period. About two-thirds of that …
U.S. Supreme Court Rejects Investor Suits over Fannie Mae, Freddie Mac
Reuters, Jan. 9, 2023–Nate RaymondThe U.S. Supreme Court on Monday declined to again hear a multi-billion dollar case pursued by shareholders of Fannie Mae and Freddie Mac arising from the …