Kansas City Star, Oct. 31, 2022–Mike HendricksKansas City-based James B. Nutter & Co., one of the nation’s largest private mortgage lenders that since its founding in 1951 helped hundreds of …
Category: Top National News
Expanded-Credit MBS Issuance Off by Almost 20%
Inside Mortgage Finance, Oct. 31, 2022–Brandon IveyIssuers came to market with $9.9 billion of securities backed by expanded-credit mortgages in the third quarter, a sequential decline of 19.6%, according to …
What the Midterm Elections Mean for the Housing Market…
MarketWatch, Oct. 30, 2022–Aarthi SwaminathanIn mid-October, a federal appeals court said that the Consumer Financial Protection Bureau, a financial watchdog agency, was unconstitutional due to its funding. And “that could …
A Court Just Ruled that CFPB’s Funding is Unconstitutional, and that Could be ‘Catastrophic’ for Mortgage Market
CNBC, Oct. 28, 2022–Stephanie Dhue“We do like to settle rules that give us some safe harbors for the way that we make mortgages and we don’t want that to all …
Finance of America Casualties, Branches Rescued by California Lender
National Mortgage News, Oct. 28, 2022–Maria Volkova (subscription)California-based American Pacific Mortgage scooped up close to half of Finance of America’s recently laid off employees and about 40 of its offices, …
Redwood Limiting Acquisitions of Jumbo Mortgages
Inside Mortgage Finance, Oct. 28, 2022–Brandon IveyWith demand for jumbo mortgage-backed securities exceptionally weak, officials at Redwood Trust said this week that the real estate investment trust “intentionally maintained light …
Lenders Must Avoid ‘Dark Pattern’ Practices, Legal Experts Say
National Mortgage News, Oct. 27, 2022–Andrew Martinez (subscription)David Shirk, a mortgage banking lawyer and managing member of Washington, D.C.-based Shirk Law. PLLC. Shirk and Tom Clerici, chief technology officer at …
White House Reports Its Progress on Housing Supply Action Plan
GlobeSt.com, Oct. 27, 2022–Paul BergeronThe White House is putting its money where its mouth is when it comes to creating greater housing affordability.https://www.globest.com/2022/10/27/white-house-reports-its-progress-on-housing-supply-action-plan/?
Mr. Cooper’s Q3 Reports $113M in Q3 Profits Buoyed by Servicing Earnings
HousingWire, Oct. 26, 2022–Connie KimNonbank mortgage lender and servicer Mr. Cooper Group reported a net income of $113 million in the third quarter thanks to servicing earnings shining through in …
With Homes Costing 55% More Today than a year Ago, This Type of Mortgage Is Increasingly Attractive…
Yahoo!Finance, Oct. 26, 2022–Lauren BirdAccording to Redfin, 85% of people who have a locked-in rate below the current rate are holding back from the housing market. And deals are falling …