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 …
Category: Top National News
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 …
A New Reality for GSE Loans: Better FICOs, Lower LTVs
Inside Mortgage Finance, Jan. 9, 2023–Andras MalatinszkyLenders sold $129.5 billion of purchase loans to the GSEs in the fourth quarter, down 34.6% from the previous period. About two-thirds of that …
U.S. Supreme Court Rejects Investor Suits over Fannie Mae, Freddie Mac
Reuters, Jan. 9, 2023–Nate RaymondThe U.S. Supreme Court on Monday declined to again hear a multi-billion dollar case pursued by shareholders of Fannie Mae and Freddie Mac arising from the …
Banks Post Another Decline in Residential MBS Holdings in 3Q22
Inside Mortgage Finance, Nov. 18, 2022–John BancroftThe industry reported a fair market value of $2.432 trillion for its single-family MBS at the end of September, down 7.3% from the previous …
Carrington Agrees to Settle CFPB Charges it Mishandled Pandemic Relief
National Mortgage News, Nov. 17, 2022–Bonnie Sinnock (subscription)But the company neither admitted nor denied wrongdoing, and noted that it was agreeing to settle to avoid protracted litigation.https://www.nationalmortgagenews.com/news/carrington-agrees-to-settle-cfpb-charges-it-mishandled-pandemic-relief?position=editorial_2&campaignname=NMN%20Daily%20Briefing-11182022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_NMN_Daily_2021%2B%27-%27%2B11182022&bt_ee=2pn0KDscFBN4MjN%2Bago51i4b4DuQ7B8820a68KL75K1HTJN8qxMc%2FFksRNl1d5dQ&bt_ts=1668769253532
Why Office Buildings Are Still in Trouble
New York Times, Nov. 17, 2022–Peter Eavis, Julie Creswell, Joe RennisonHybrid work, layoffs and higher interest rates are leaving lots of office space vacant and hurting the commercial real estate …
Mortgage Market Upheaval Spurs $17 Billion in Paper Losses for Banks
Bloomberg, Nov. 17, 2022–Hannah LevittHigher interest rates helped Wells Fargo & Co. land more than $3 billion in profit in the third quarter. From a capital perspective, they also wiped …
Mortgage Company Layoffs? Yes. WARN Act Filings? Not So Much
Inside Mortgage Finance, Nov. 17, 2022–Paul MuoloOver the past year, at least 40,000 mortgage banking professionals have lost their jobs, but according to a check by Inside Mortgage Finance of …