Inside Mortgage Finance, Sept. 19, 2022–Monica HoganGinnie Mae has begun one-on-one talks with its issuer base over the agency’s new eligibility requirements, President Alanna McCargo said in an interview with …
Category: Top National News
Opinion: What is Ginnie Mae Thinking with New Capital Rule?
HousingWire, Sept. 19, 2022–David Stevens, CMBFormer FHA Commissioner/MBA President/CEO says Ginnie Mae has been on the receiving end of a lot of backlash from industry and the analysts who associate …
As Mortgage Rates Top 6%, More Borrowers Choose Adjustable-Rate Loans
Wall Street Journal, Sept. 16, 2022–Julia Carpenter (subscription)Mortgage rates surged past 6% this week, pushing already pricey homes further out of reach for many borrowers. Discouraged buyers might choose to …
Sustaining Deeply Affordable Housing Requires Significant Ongoing Funding Beyond Initial Development Costs
MinnPost, Sept. 16, 2022–Jon Gutzmann, Lisa FeidlerFailure to ensure a sustainable, ongoing funding beyond development brings the viability of keeping units deeply affordable into question, jeopardizing the housing stability of …
Wells Fargo in $94 Million Settlement Over Mortgage Forbearance During Pandemic
Reuters, Sept. 14, 2022–Jonathan StempelWells Fargo & Co. reached a $94 million settlement to resolve class-action claims it sent more than 200,000 struggling mortgage borrowers into forbearance during the COVID-19 …
Mortgage Bankers Petition White House for an FHA Premium Cut
National Mortgage News, Sept. 14, 2022–Brad Finkelstein (subscription)A quartet of housing industry trade groups have reached out to the National Economic Council, incalling on the White House advisory panel to …
Another Lender Backs Out of Wholesale
NEXT, Sept. 14, 2022California-based Point Mortgage Corporation is “temporarily” shutting down its wholesale business GoPointDirect to focus on retail lending. The company is also laying off seven employees, per HousingWire.https://nextmortgagenews.com/news/another-lender-backs-out-of-wholesale/
FHFA’s Study of Federal Home Loan Banks Welcome
National Mortgage News, Sept. 13, 2022–Paul Manchester (subscription)Lenders are eliminating what they consider to be riskier loans from their offerings, the Mortgage Bankers Association said.https://www.nationalmortgagenews.com/opinion/fhfas-study-of-federal-home-loan-banks-welcome
California Couple Held Off Foreclosure for 13 Years in Mortgage Servicer Nightmare
National Mortgage News, Sept. 13, 2022–Kate Berry (subscription)A California couple that hasn’t made a mortgage payment since 2009 will finally be forced out of their $1.7 million home after a …
How Real Estate Companies Are Tackling the Affordability Issue in the Housing Market
Newsweek, Sept. 13, 2022–Johnny HannaIn recent weeks, you’ve read headlines saying bidding wars are less dramatic and prices are dropping for the first time in 18 months. Potential buyers can …