Fox Business, Nov. 3, 2022–Kelsey RamirezThe housing market, which has slowed significantly from last year as mortgage rates continue to edge higher, could be what pulls the U.S. into a …
Category: Top National News
The 3Q Tally: Nonbanks Relentlessly Grow Their MSR Holdings
Inside Mortgage Finance, Nov. 3, 2022–John Bancroft (subscription)Nonbanks continued to outpace depository institutions in the upper echelon of the home-loan servicing market during the third quarter, according to an exclusive …
The Great Mortgage Bank Consolidation Wave is Underway
HousingWire, Nov. 3, 2022–Bill ConroyUp to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the …
US Homeowners Have a Fat Equity Cushion for Real-Estate Downturn
Bloomberg, Nov. 3, 2022–Alexandre TanziUS homeowners continued to build their equity positions last quarter even as the housing market cooled, and they have ample buffers to shield against a deeper …
Maine May Reconsider Foreclosure Rule That Shields Borrowers
National Mortgage News, Nov. 1, 2022–Bonnie Sinnock (subscription)The possibility that Maine could remove a consumer protection against continued foreclosure litigation after a borrower has won could give servicers expanded options …
What Happens When the CFPB’s Funding Question Hits the Supreme Court?
National Mortgage News, Nov. 1, 2022–Kate Berry (subscription)Constitutional scholars and legal experts said the Supreme Court is likely to expedite a review of the case as early as next year, …
Increasingly, Fannie and Freddie are Sticking to Core Activities
Inside Mortgage Finance, Nov. 1, 2022–Brandon IveyRising interest rates and new pricing policies initiated by the Federal Housing Finance Agency have driven down the “noncore” share of business at the …
Rocket Mortgage Rolls Out New Loan Option for Manufactured Homes
HousingWire, Nov. 2, 2022–Connie KimRocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options …
Production Tanks at Rithm, MSR Markups Save the Day
Inside Mortgage Finance, Nov. 2, 2022–Paul MuoloRithm Capital Corp., the third largest owner of mortgage servicing rights in the nation, saw its originations tank by almost 28% in the third …
Promontory MortgagePath is Closing its Doors
National Mortgage News, Nov. 1, 2022–Maria Volkova (subscription)Connecticut-based Promontory MortgagePath, a provider of mortgage fulfillment services, is closing its doors due to “unprecedented and rapid mortgage market deterioration.”https://www.nationalmortgagenews.com/news/promontory-mortgagepath-is-closing-its-doors?position=editorial_1&campaignname=V2_NMN_Daily_2021-11022022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_NMN_Daily_2021%2B%27-%27%2B11022022&bt_ee=La6TQhzzQ5GKi9%2FRfDoJc1OTlFnLcfwDIB%2BitRCg8x1f9g2maK4CXh4ofkrnSzT4&bt_ts=1667383217904