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 …
Category: Top National News
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 …
Report: Fannie, Freddie Note Sales Undercut Homeownership Goals
National Mortgage Professional, Jan. 31, 2023–David KrechevskyThe National Consumer Law Center released a report Monday examining how Fannie Mae’s and Freddie Mac’s bulk sale of 700,000 home loans to private …
Fed Officials See Lots of Room to Shed Bonds from the Balance Sheet
Reuters, Jan. 31, 2023–Michael S. DerbyFederal Reserve officials believe their effort to shrink the U.S. central bank’s bond holdings is far from done, pushing back against some economists’ idea that …
Fairway Overhauls Its Reverse Mortgage Channel
National Mortgage Professional, Jan. 30, 2023–David KrechevskyFairway Independent Mortgage Corp., one of the nation’s largest lenders, said Monday it is reorganizing its reverse mortgage channel.https://nationalmortgageprofessional.com/news/fairway-overhauls-its-reverse-mortgage-channel
Investment Properties Dominate 4Q EC MBS Issuance
Inside Mortgage Finance, Jan. 30, 2023–Brandon IveyIssuers of expanded-credit mortgage-backed securities shifted strategies, to some extent, in the final three months of last year, according to a new ranking and …
US Offices Reach 50% Occupancy for First Time Since Pandemic Hit
Bloomberg, Jan. 30, 2023–Matthew BoyleMore than half of workers in major US cities went to the office last week, the first time that return-to-office rates crossed 50% of their pre-pandemic …
IMBs See Choppy Waters Ahead for MSR Sales. At Issue: Too Much Supply
Inside Mortgage Finance, Jan. 27, 2023–Brandon IveyAs profitability tied to originations plummeted in 2022, many lenders opted to sell mortgage servicing rights to generate cash, and there were plenty of …
2023 Unlikely to Bring a Large Wave of CRE Distress, Predicts Walker & Dunlop Exec
Wealth Management Real Estate, Jan. 24, 2023–Buck WargoThe potential for recession in 2023 is creating further unease for many real estate investors, while still opening up new opportunities for some …