Inside Mortgage Finance, Sept. 7, 2022–Brandon IveyLenders delivered $6.91 billion of loans for second homes into GSE MBS during the second quarter of 2022, a stunning 64.2% plunge from the …
Category: Top National News
Freedom Mortgage Conducts Layoffs, Sends Jobs Overseas: Sources
HousingWire, Sept. 7, 2022–Connie KinTop 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees …
BofA Tells Court Ambac Cannot Prove $2.7 Bln Mortgage Case
Reuters, Sept. 7, 2022–Jody GodoyBond insurer Ambac Financial Group Inc cannot prove its $2.7 billion case against Bank of America over troubled mortgage-backed securities on evidence that BofA was a …
Strong Job Market Will Continue to Support Housing Demand–MBA
Mortgage Professional America, Sept. 6, 2022–Candyd Mendoza“While the labor market remains quite strong, with employment growth still above a sustainable pace; however, that pace is slowing,” said Mike Fratantoni, chief …
High Housing Costs Unlikely to Moderate
The M Report, Sept. 6, 2022–Demetria LesterAs national population growth sits at a record low, domestic migration was the key component of population change on state and local levels in …
A Bright Spot Appears: The HECM Niche
Inside Mortgage Finance, Sept. 6, 2022–Monica HoganReverse mortgage specialists originated $9.32 billion of FHA-backed home-equity conversion mortgages in the second quarter, an 11.2% sequential gain, according to a new tally …
Default Risk for Originations Comes in higher to to Refi Mix
National Mortgage News, Sept. 2, 2022–Spencer Lee (subscription)A higher proportion of cash-out refinances is bringing with it increased default risk for conventional mortgages originated in the second quarter compared to …
Expanded-Credit Lending Holds Up in Tough 2Q22
Inside Mortgage Finance, Sept. 2, 2022–Brandon IveyDespite higher interest rates and volatility in the secondary market, expanded-credit mortgages generally fared well in the second quarter, according to a new ranking …
Are Fannie Mae, Freddie Mac Preparing to Accept VantageScore?
National Mortgage News, Sept. 2, 2022–Brad Finkelstein (subscription)Mortgage lender choice among credit scoring model alternatives reportedly took a step closer to reality, as both Fannie Mae and Freddie Mac supposedly …
Risky Cash-Out Refinance Loans Now Double in Volume
Mortgage Professional America, Sept. 2, 2022–Candyd MendozaThe latest Milliman Mortgage Default Index estimates the default risk for government-sponsored enterprise acquisitions – purchased and refinanced loans backed by Freddie Mac and …