Wall Street Journal, Oct. 17, 2022–Arian Campo-Flores, Deborah Acosta (subscription)Many homeowners in southwest Florida towns find it challenging to rebuild. ‘People leave and don’t come back.’https://www.wsj.com/articles/florida-coastal-living-reshaped-by-hurricane-housing-codes-11666019241?mod=hp_lead_pos10
Category: Top National News
Credit Suisse Pays $495 Mln to Settle Legacy U.S. Case
Reuters, OCt. 17, 2022–John RevillThe lender has been paying out billions of dollars to resolve legal cases linked to its residential mortgage-backed securities business in the run up to the …
Ginnie MBS Issuance Continues to Slope Downward
Inside Mortgage Finance, Oct. 17, 2022–Monica HoganMortgage bankers issued $122.36 billion of Ginnie Mae single-family MBS in the third quarter, a sequential decline of 10.2% and a hefty 39.9% drop …
Home Buyers Turn to Riskier Loans as Interest Rates Soar
NBC News, Oct. 15, 2022–Shannon PettypieceHome buyers feeling financially squeezed by higher interest rates are increasingly being steered by real estate agents and mortgage brokers to potentially riskier types of …
Non QM Performance Wavered in 3Q
National Mortgage News, Oct. 14, 2022–Bonnie Sinnock (subscription)Non-qualified mortgages in the securitized market exhibited some mixed performance over the summer, according to a DBRS Morningstar report.https://www.nationalmortgagenews.com/news/non-qm-performance-wavered-in-3q
Federal Agencies Announce Threshold for Smaller Loan Exemption
National Mortgage Professional, Oct. 14, 2022–Sarah WolakThe Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2023 threshold …
Trade Groups Seek Relief to Costs Making Borrowing More Expensive
Mortgage Professional America, Oct. 14, 2022–Tony CantuAmid a home affordability crisis, the Mortgage Bankers Association and several trade organizations – as part of the Black Homeownership Collaborative – submitted a …
Trade Groups Seek Relief to Costs Making Borrowing More Expensive
Mortgage Professional America, Oct. 14, 2022–Tony CantuAmid a home affordability crisis, the Mortgage Bankers Association and several trade organizations – as part of the Black Homeownership Collaborative – submitted a …
Non-Agency MBS Market Runs Aground in 3Q22
Inside Mortgage Finance, Oct. 14, 2022–John BancroftThe market generated $21.19 billion of new non-agency MBS during 3Q22, a severe 36.4% drop from the prior period. It was the steepest decline …
Mortgage Rates Come Close To 7% As Foreclosure Filings Spike
ValueWalk, Oct. 13, 2022–Phil HallThis week in the housing world, mortgage rates ascended to their highest level in 20 years, mortgage application activity remained at a quarter-century low, and foreclosure …