Inside Mortgage Finance, July 15, 2022–John BancroftProduction of new non-agency MBS fell sharply in the second quarter, although some sectors held up better than others.https://www.insidemortgagefinance.com/articles/225156-non-agency-mbs-issuance-down-22-in-2q22?v=preview
Category: Top National News
FHA Promises Updates to Its Renovation Programs
National Mortgage News, July 15, 2022–Brad Finkelstein (subscription)As part of its plans to address the housing shortage, the Federal Housing Administration is planning to revamp its Section 203(k) home renovation …
GOP Congressmen Demand Greater Oversight Of Fannie, Freddie
National Mortgage Professional, July 15, 2022–David Krechevsky10 Republican members send letter to FHFA Director Sandra Thompson expressing concern about GSEs going beyond their approved roles.https://nationalmortgageprofessional.com/news/gop-congressmen-demand-greater-oversight-fannie-freddie
Wells Fargo Mostly Defeats Two Lawsuits Over Mortgage Losses
Reuters, July 12, 2022–Jonathan StempelWells Fargo & Co on Tuesday won the dismissal of one lawsuit and much of a second accusing the fourth-largest bank of failing to monitor toxic …
Mortgage Relief Plans May Help Struggling Borrowers Stay Put
Orange County Register, July 14, 2022–Jeff LazersonNumerous options abound for borrowers dealing with inflation, a spike in COVID-19 and dwindling savings. (MBA mention)https://www.ocregister.com/2022/07/14/mortgage-relief-plans-may-help-struggling-borrowers-stay-put/
Demand for Big Mortgages is Shrinking as Home Prices Moderate and Expensive Homes Linger on the Market
CNBC, July 13, 2022–Diana OlikMortgage applications to purchase a home fell 4% for the week and were 18% lower than the same week one year ago, according to the Mortgage …
Are New Credit Concerns Coming to Multifamily?
Multi-Housing News, July 12, 2022–Lew Sichelman“Credit washing” is a trick that is rampant in the auto lending sector, according to Point Perspective, a risk management company. It’s now starting to …
Why the CFPB is Still Writing Its Small Business Data Rule a Decade Later
American Banker, July 12, 2022–Kate Berry (subscription)One of the Consumer Financial Protection Bureau’s most important rules — requiring that lenders collect data on small-business loans — has proven to be …
Lower-Rate Loans Dominate PLS Pipeline
HousingWire, July 12, 2022–Bill ConroyThe loan quality of mortgage pools backing private-label securitization deals has remained solid this year through the end of June, even as deal volume slowed appreciably …
Non-Agency MBS Issuance Down Sharply in 2Q22
Inside Mortgage Finance, July 11, 2022–Brandon IveyMortgage firms issued $21.35 billion of non-agency MBS in the second quarter, a 39% drop from the prior period, according to a new ranking …