National Mortgage News, Nov. 16, 2022–Brad Finkelstein (subscription)A now-more-than-likely cut in the Federal Housing Administration’s mortgage insurance premium could offset any impact of the reduction in the conforming market’s loan …
Category: Top National News
CFPB Asks Supreme Court to Uphold Constitutionality of its Funding
American Banker, Nov. 15, 2022–Kyle Campbell (subscription) In a petition filed Monday, the CFPB challenged the U.S. Court of Appeals for the 5th Circuit’s ruling on Community Financial Services Association …
Student Loan Debt A Barrier To Black Homeownership
National Mortgage Professional, Nov. 15, 2022–Katie JensenAaccording to new research from the Urban Institute, while plenty of homebuyers have student loan debt, less access to generational wealth among young Black …
Total Household Debt Reaches $16.51 Trillion in Q3 2022; Mortgage and Auto Loan Originations Decline
Federal Reserve of New York, Nov. 15, 2022The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit . The …
loanDepot Ends Repurchase Agreement, Shrinks Funding Capacity
HousingWire, Nov. 15, 2022–Connie KimCalifornia-based mortgage lender loanDepot terminated a master repurchase agreement with J.V.B. Financial Group, reducing its funding capacity amid sharply decreasing originations.https://www.housingwire.com/articles/loandepot-ends-repurchase-agreement-shrinks-funding-capacity/
Prime RMBS Market Flops in 3Q22: Just Five Deals Issued
Inside Mortgage Finance, Nov. 15, 2022–John BancroftSoaring interest rates and instability in financial markets nearly flattened the prime non-agency mortgage-backed securities sector in the third quarter. Overall, a measly $1.86 …
Mortgage Lenders Expect the Housing Market to Worsen in 2023
First Tuesday Journal, Nov. 14, 2022–Carrie B. ReyesFollowing record lender profits in 2021, 2022 has mortgage lenders packing their bags and heading for the exits. The Mortgage Bankers Association believes …
Here Are the US Cities With the Biggest Share of Mortgage-Free Homes
Bloomberg, Nov. 14, 2022–Alexandre TanziMore than 30 million homes in the US are mortgage-free, with Florida — which has the highest proportion of retirees — the state with the biggest …
Under New Ownership (Soon): Select Portfolio Servicing
Inside Mortgage Finance, Nov. 14, 2022–John BancroftCredit Suisse is expected to announce terms on a deal to unload its securitized products group sometime in the fourth quarter, setting in motion …
Appeals Court Blocks Biden’s Student-Loan Forgiveness Program
Wall Street Journal, Nov. 14, 2022–Gabriel T. Rubin; Jacob Gershman (subscription)A federal appeals court on Monday blocked the Biden administration from moving ahead with its mass student-debt cancellation program, dealing …