Inside Mortgage Finance, Nov. 18, 2022–John BancroftThe industry reported a fair market value of $2.432 trillion for its single-family MBS at the end of September, down 7.3% from the previous …
Category: Top National News
Carrington Agrees to Settle CFPB Charges it Mishandled Pandemic Relief
National Mortgage News, Nov. 17, 2022–Bonnie Sinnock (subscription)But the company neither admitted nor denied wrongdoing, and noted that it was agreeing to settle to avoid protracted litigation.https://www.nationalmortgagenews.com/news/carrington-agrees-to-settle-cfpb-charges-it-mishandled-pandemic-relief?position=editorial_2&campaignname=NMN%20Daily%20Briefing-11182022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_NMN_Daily_2021%2B%27-%27%2B11182022&bt_ee=2pn0KDscFBN4MjN%2Bago51i4b4DuQ7B8820a68KL75K1HTJN8qxMc%2FFksRNl1d5dQ&bt_ts=1668769253532
Why Office Buildings Are Still in Trouble
New York Times, Nov. 17, 2022–Peter Eavis, Julie Creswell, Joe RennisonHybrid work, layoffs and higher interest rates are leaving lots of office space vacant and hurting the commercial real estate …
Mortgage Market Upheaval Spurs $17 Billion in Paper Losses for Banks
Bloomberg, Nov. 17, 2022–Hannah LevittHigher interest rates helped Wells Fargo & Co. land more than $3 billion in profit in the third quarter. From a capital perspective, they also wiped …
Mortgage Company Layoffs? Yes. WARN Act Filings? Not So Much
Inside Mortgage Finance, Nov. 17, 2022–Paul MuoloOver the past year, at least 40,000 mortgage banking professionals have lost their jobs, but according to a check by Inside Mortgage Finance of …
Critics Call Federal Home Loan Bank System ‘Corporate Welfare’
National Mortgage News, Nov. 16, 2022–Kate Berry (subscription)Critics of the Federal Home Loan Bank System are claiming that the banking cooperative is receiving billions of dollars a year in corporate …
More Homeowners Using HELOCs as Financial Safety Net
Wall Street Journal, Nov. 16, 2022–Veronica Dagher (subscription) As high interest rates drive up the cost of borrowing money, more people are tapping the equity in their homes. Americans took …
Private Mortgage Insurers Plan for Ongoing Economic Volatility
Inside Mortgage Finance, Nov. 16, 2022–Monica HoganPrivate mortgage insurers are monitoring the volatility in the housing market and taking steps to manage their risk ahead of an uptick in unemployment …
Treasury Recommends Bank Regulators Finalize Bank-Fintech Relationship Guidance
American Banker, Nov. 16, 2022–Claire Williams (subscription)The Treasury Department in a new report on financial technology urged bank regulators to finalize guidance relating to how banks manage their third party …
Freddie Mac Identifies Homeownership Hurdles for Gen Zers
MortgageOrb, Nov. 16, 2022–Michael BatesThis survey of respondents finds that the attitudes of Gen Z adults (ages 18-25) are largely positive when it comes to the idea of homeownership, though …