Inside Mortgage Finance, Jan. 12, 2023–John BancroftPrimary market originations and secondary market sales are facing gale-force headwinds these days, but the good-old servicing market keeps growing.https://www.insidemortgagefinance.com/articles/226711-ginnie-mae-paces-agency-msr-growth-nonbanks-stall?v=preview
Category: Top National News
Why Residential Conversions Are More Commonplace
Multi-Housing News, Jan. 6, 2021–Lew SichelmanYoung adults looking for places to rent, especially in central business districts, might find just the right place in a converted office building, motel and …
City National Bank Settles DOJ Redlining Allegations for $31 Million
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 …
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 …