CNBC, Feb. 6, 2023–Elizabeth GravierMillennials who managed the feat of becoming homeowners have discovered that their piece of the American Dream may turn into a bit of a nightmare.https://www.cnbc.com/select/millennial-regrets-buying-homes/
Category: Top National News
Consumers Would Pay Mortgage and Car Loans First Among Debts
TheStreet, Feb. 6, 2023–Ellen ChangConsumers who are struggling financially plan to make sure their mortgage and car loans are paid first, according to a Bank of America Securities survey.https://www.thestreet.com/money/consumers-would-pay-mortgage-and-car-loans-first
Freddie QC Chief: Mortgage Defect Rates Remain Elevated
Inside Mortgage Finance, Feb. 6, 2023–Dennis Hollier (subscription)Speaking at a recent Mortgage Bankers Association conference in San Diego, Duane Gilkison, head of Fannie’s loan quality compliance team, noted that originations …
Opinion: Why Fintech ‘Disruption’ Doesn’t Work in Mortgage Servicing
HousingWire, February 6, 2023–Courtney ThompsonAmerica’s $13.3 trillion mortgage servicing sector shouldn’t be “disrupted by financial technology–it should be reimagined with fintech.https://www.housingwire.com/articles/opinion-why-fintech-disruption-doesnt-work-in-mortgage-servicing/
The Slump Persists: MBS Issuance Down Again in January
Inside Mortgage Finance, Feb. 3, 2023–John BancroftNew issuance of agency single-family MBS fell again in January, the 10th straight monthly decline, according to just-released figures from Inside MBS & ABS.https://www.insidemortgagefinance.com/articles/226909-the-slump-persists-mbs-issuance-down-again-in-january?v=preview
Hard-Money Loans Can Turn a 10% Return for Rental-Shy Investors
Orange County Register, Feb. 3, 2023–Jeff LazersonWhat about the potential to make some serious shekels by becoming the mortgage bank instead of the landlord? Where else besides private mortgages or …
High Mortgage Rates: The One Reason It’s So Hard for the Fed to Shed Trillions of Dollars in Housing Debt
Dow Jones, Feb 2, 2023–Joy WiltermuthThe Federal Reserve fired off a smaller interest rate increase on Wednesday, while hinting it might soon be toning down its inflation fight, even before …
Housing Market: Level of Activity is ‘Still Very Low’ But Starting to See Increase, Economist Says (VIDEO)
Yahoo! Finance, Feb. 2, 2023–David BriggsMike Fratantoni, Mortgage Bankers Association Chief Economist, joins Yahoo Finance Live to discuss MBA’s forecast for mortgage rates, the housing market, home builder sentiment and …
Nonbanks Keep Growing MSR Share, Delinquencies a Potential Concern
Inside Mortgage Finance, Feb. 2, 2023–John BancroftNonbanks continued to grow servicing market share in late 2022 as the industry braces for a potential deterioration in loan performance.https://www.insidemortgagefinance.com/articles/226888-nonbanks-keep-growing-msr-share?v=preview
Senate Democrats Ask FHFA to Review Nonperforming Loan Programs
National Mortgage News, Feb. 1, 2023–Claire Williams (subscription)Sens. Sherrod Brown of Ohio, the chairman of the Senate Banking Committee, Jack Reed of Rhode Island, Tina Smith of Minnesota, Ron Wyden …