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 …
Category: Top National News
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 …
CMBS Falters in 3Q22 but Agency Multifamily Softens the Decline
Inside Mortgage Finance, Nov. 11, 2022–John BancroftSecuritization of income-property mortgages declined in the third quarter, but the sector’s slump wasn’t nearly as severe as the nosedive in residential MBS issuance.https://www.insidemortgagefinance.com/articles/226214-cmbs-falters-in-3q22-but-agency-multifamily-softens-the-decline?v=preview
Why the CFPB’s Guidance on Unfair Practices Will Keep Giving Banks Trouble
American Banker, Nov. 9, 2022–Kate Berry (subscription)Bankers claim that the CFPB issued non-binding guidance on so-called “unfair” bank fees and that the White House released a statement on the same …
Fannie/Freddie CRT Issuance Plummets in 3Q22
Inside Mortgage Finance, Nov. 9, 2022–Dennis HollierWith soaring interest rates and the prospect of a recession looming, the issuance of credit-risk transfers by Fannie Mae and Freddie Mac took a …
Redfin Shuts Home-Flipping Business, Lays Off 13% of Staff in Slumping Housing Market
Wall Street Journal, Nov. 9, 2022–Will Parker (subscription) Redfin Corp. laid off 13% of its staff on Wednesday and closed its home-flipping unit, saying the operation was both too expensive …
3Q Results: GSEs Set Aside $4.3B to Cover Declining Home Values
Inside Mortgage Finance, Nov. 8, 2022–Dennis Hollier, Paul MuoloFannie Mae and Freddie Mac reported a reduction in revenue and net income for the third quarter — a reflection of a …
Top Office Developers Hit the Pause Button on New Projects
Wall Street Journal, Nov. 8, 2022–Peter Grant (subscription)Real estate developers are delaying major office projects already underway or in the planning stages, discouraged by high vacancy rates and the reduction …
Ten Years After Superstorm Sandy, Focus on Climate Change Forecasting Is Mainstream
Urban Land, Nov. 7, 2022–Paul BergeronIt’s been 10 years since the eastern United States experienced Superstorm Sandy, which many in the commercial real estate industry consider a watershed moment in …
Non-QM Lender Angel Oak Posts 3rd Straight Quarterly Loss
National Mortgage Professional, Nov. 8, 2022–David KrechevskyCiting the “dislocation of the fixed-income market” and two increases to the federal funds rate during the quarter, Angel Oak Mortgage Inc. reported its …