National Mortgage Professional, Oct. 25, 2022–David KrechevskyYou can’t sell what doesn’t exist. That’s the argument Fannie Mae has made to a federal bankruptcy court judge in Delaware as part of …
Category: Top National News
Housing Market Crash? Here’s How Much Prices Have Gone Down
Deseret News (Utah) Oct. 25, 2022–Katie McKellar (part of a series)Since the onset of the Federal Reserve’s fight with inflation, which has pushed mortgage rates to 20-year highs, the impact …
Wells Fargo’s CEO of Mortgage Kristy Fercho on Equity in Housing
National Mortgage News, Oct. 24, 2022 (subscription)American Banker’s Most Powerful Woman in Banking, who is also wrapping a year’s service as the Mortgage Bankers Association’s first Black chairwoman, discusses closing …
Mortgage Industry Should Shed Another 25 to 30% of Staff
National Mortgage News, Oct. 24, 2022–Brad Finkelstein (subscription)The mortgage industry still needs to wring out more capacity in order to get to where it needs to be to operate profitably, …
Renters Hit Breaking Point in a Sudden Reversal for Landlords
Bloomberg, Oct. 24, 2022–Prashant Gopal, Paulina CacheroAfter a record surge in housing costs and ballooning expenses for everything from food to energy, America’s renters have had enough. Rent gains are …
MSR Transfer Pace Eases in Third Lap of a Record Year
Inside Mortgage Finance, Oct. 24, 2022–John BancroftTransfers of agency mortgage servicing rights slowed modestly in the third quarter, according to an exclusive Inside Mortgage Trends analysis. But bulk MSR sales …
KBRA: Backlog of Redeemable Non-QM Securities Growing
National Mortgage Professional, Oct. 21, 2022–David KrechevskyIn a report issued earlier this month, Kroll Bond Rating Agency LLC noted there is a growing backlog of Non-QM residential mortgage-backed securities that …
PHH Liable for $2M for Denying Loan Modification in Divorce Case
National Mortgage News, Oct. 21, 2022–Brad Finkelstein (subscription)PHH Mortgage Services is liable for $1.86 million following an arbitrator’s ruling finding that it denied a consumer loss mitigation and failed to …
Remote Work Changed Their Lives. They’re Not Going Back to the Office
Washington Post, Oct. 21, 2022–Danielle AbrilAs of late September, 21.6 million people in the United States worked remotely for five days, while 32.3 million worked at the office at least …
Fannie Mae, Freddie Mac Data Should be Public, Trade Groups Say
National Mortgage News, Oct. 20, 2022–Maria Volkova (subscription)The Mortgage Bankers Association in its letter to FHFA’s Director Sandra Thompson argues that Fannie Mae and Freddie Mac, two entities that the …