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/
Category: Top National News
Mortgage Lender to Close Melville Office, Lay Off 71
Newsday (N.Y.), Aug. 5, 2022–Victor OcasioRoundPoint Mortgage Servicing Corp., a non-bank mortgage lender and refinancer, will be closing its Melville, N.Y., offices this fall, laying off 71 employees, according to …
Agency MBS Issuance Falls to 2022 Low in July
Inside Mortgage Finance, Aug. 5, 2022–John BancroftFannie Mae, Freddie Mac and Ginnie Mae issued a combined $129.42 billion of single-family MBS last month, according to loan-level disclosures that round off …
Largest Servicers Lose Some Market Share in Second Quarter
Inside Mortgage Finance, Aug. 4, 2022–John BancroftThree of the five largest services saw their portfolios shrink in the second quarter.https://www.insidemortgagefinance.com/articles/225324-largest-servicers-lose-some-market-share-in-second-quarter?v=preview
Ocwen’s Strategy Shift Notches Modest Win in Q2 Earnings
National Mortgage News, Aug. 4, 2022–Bonnie Sinnock (subscription)Ocwen Financial eked out a second quarter profit due to cost cuts, appreciation in owned mortgage servicing rights, and a shift to higher-margin …
Reverse Mortgage Market May Be Teetering on Collapse
Orange County Register, Aug. 4, 2022–Jeff LazersonRising interest rates, FHA mortgage insurance premiums and huge rebates to loan originators leave senior borrowers little opportunity to pull out cash. (MBA mention)https://www.ocregister.com/2022/08/04/reverse-mortgage-market-may-be-teetering-on-collapse/
Freedom Mortgage Sells RoundPoint to Two Harbors after 2 Years
National Mortgage News, Aug. 3, 2022–Brad Finkelstein (subscription)Freedom Mortgage has moved on from RoundPoint Mortgage Servicing Corp. barely two years after it closed on the acquisition. Matrix Financial Services, a …
Tide Turning In Favor Of Homebuyers As Seller Competition Increases
National Mortgage Professional, Aug. 3, 2022–Katie JensenHousing market activity continues to slow on the heels of economic uncertainty, according to the latest HouseCanary report. Today, HouseCanary released its latest Market …
Normalizing Forbearance
Urban Institute, Aug. 2, 2022Urban Institute’s Housing Finance Policy Center is out with a proposal to make forbearance the first step on most loss mitigation waterfalls. Expanding mortgage payment forbearance …
Banks’ GSE Servicing Increases in Second Quarter
Inside Mortgage Finance, Aug. 2, 2022–Dennis HollierDepositories’ market share of Fannie Mae and Freddie Mac servicing increased to 43.0% in the second quarter of 2022, ending a nearly uninterrupted two-year …