American Banker, Aug. 11, 2022–Kyle Campbell (subscription)Fannie Mae and Freddie Mac, the government-backed mortgage companies, would face a combined credit loss of more than $17 billion under this year’s stress …
Category: Top National News
Equifax Should Face Curbs on Selling Credit Scores, Maxine Waters Says
Wall Street Journal, Aug. 10, 2022–AnnaMaria Andriotis (subscription)Maxine Waters, chairwoman of the House Financial Services Committee, asked the Consumer Financial Protection Bureau to stop Equifax from selling credit scores to …
There’s More Blood on the Tracks in the Non-QM Market
HousingWire, Aug. 9, 2022–Bill ConroyThe REIT, which is managed by investment advisor Western Asset Management Co. LLC, recently announced that it is exploring a potential company sale or merger in …
Lower Profits for Nation’s #3 Originator, UWM. MSRs Bolster Weaker Originations
Inside Mortgage Finance, Aug. 9, 2022–Brandon IveyUnited Wholesale Mortgage posted net income of $215.4 million for the second quarter, a sequential decline of 52.5% as higher interest rates and lower …
Volatility in Expanded-Credit Market Shakes Up MBS Contributors
Inside Mortgage Finance, Aug. 8, 2022–Brandon IveyLenders that have traditionally served as the leading contributors to expanded-credit MBS slowed their activity during the second quarter.https://www.insidemortgagefinance.com/articles/225348-volatility-in-expanded-credit-market-shakes-up-mbs-contributors?v=preview
Volatility in Expanded-Credit Market Shakes Up MBS Contributors
Inside Mortgage Finance, Aug. 8, 2022–Brandon IveyLenders that have traditionally served as the leading contributors to expanded-credit MBS slowed their activity during the second quarter.https://www.insidemortgagefinance.com/articles/225348-volatility-in-expanded-credit-market-shakes-up-mbs-contributors?v=preview
Mortgage Insurer Earnings Grow in 2Q
National Mortgage News, Aug. 8, 2022–Brad Finkelstiein (subscription)Private mortgage insurers reported strong earnings during a quarter in which their mortgage originator clients were not doing so well.https://www.nationalmortgagenews.com/list/mortgage-insurer-earnings-grow-in-2q
Homeowners Seek HELOC Loans to Unlock Equity As the Fed Hikes Interest Rates
CNet, Aug. 8-8-22–Alix LangoneAs the Federal Reserve continues to jack up interest rates, homeowners are shifting their attention from refinancing to HELOCs and home equity loans.https://www.cnet.com/personal-finance/mortgages/homeowners-seek-heloc-loans-to-unlock-equity-as-the-fed-hikes-interest-rates/
Why Non-QM Lending is Not Going Away
HousingWire, Aug. 8, 2022HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022.https://www.housingwire.com/articles/why-non-qm-lending-is-not-going-away/
Mortgage Insurer Earnings Grow in 2Q
National Mortgage News, Aug. 8, 2022–Brad Finkelstiein (subscription)Private mortgage insurers reported strong earnings during a quarter in which their mortgage originator clients were not doing so well.https://www.nationalmortgagenews.com/list/mortgage-insurer-earnings-grow-in-2q