Reuters, Oct. 11, 2022–Daniel Wiessner, Nandita Bose, David ShepardsonThe U.S. Department of Labor proposed a rule on Tuesday that would make it more difficult for companies to treat workers as …
Category: Top National News
Home Flippers Get Burned by US Housing Market’s Sudden Slump
Bloomberg, Oct. 11, 2022–Prashant GopalAfter an abrupt end to the US housing boom, home flippers who were winning big just months ago are now racing to stem losses. Doubling of …
Triple Blow for Renters
Mortgage Professional America, Oct. 11, 2022–Richard TorneHigher rental prices are expected to continue until next year, mostly due to the fact that demand for rental properties has soared, as many …
Lower Has a Round of Layoffs to ‘Weather Upcoming Rate Hikes’
HousingWire, Oct. 10, 2022–Flávia Furlan NunesOhio-based mortgage lender Lower imposed a round of layoffs last week due to market conditions, affecting 6% of its workforce, according to a spokesperson for …
A Decline in Market Share for High LTV GSE Loans
Inside Mortgage Finance, Oct. 10, 2022–Brandon IveyIn the mid-range credit score bucket (scores between 700 and 739), the share of mortgages with LTV ratios between 81% and 97% declined from …
Breaking Down September’s Double-Digit Drop for REIT Total Returns
Wealth Management Real Estate, Oct. 10, 2022–David BodamerPublicly traded REITs saw total returns fall 12.72 percent in September, leaving the FTSE Nareit All Equity REITs index down 27.93 percent year-to-date. …
How Climate Change Could Affect the Future of Real Estate Investing
Benzinga, Oct. 7, 2022–Eric McConnellIn 2009, the Federal Emergency Management Agency conducted a simulation to predict the damage a Category 5 hurricane could do if it made landfall in Tampa, …
Bank of America to Pay $1.84B To Settle Crisis-Era Countrywide Case
National Mortgage News, Oct. 7, 2022–Polo Rocha (subscription)Ambac, which provided insurance policies for Countrywide’s securities, alleged the mortgage lender misrepresented the quality of the loans it was making in the …
After Forward Retail Deal with G-Rate Collapses, FoA Announces Wholesale Exit
HousingWire, Oct. 7, 2022–Flávia Furlan NunesGuaranteed Rate this week walked away from negotiations to acquire Finance of America’s forward mortgage retail channel, which may result in FoA exiting the wholesale …
One More Squeezing of the MSR Grapes? Looks That Way
Inside Mortgage Finance, Oct. 7, 2022–Paul MuoloMost mortgage banking firms have been living off their servicing portfolios this year, selling existing contracts to a welcoming group of buyers that want …