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 …
Category: Top National News
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 …
Amazon Closes, Abandons Plans for Dozens of US Warehouses
Bloomberg, Sept. 2, 2022–Matt Day, Spencer SoperMWPVL International Inc., which tracks Amazon’s real-estate footprint, estimates Amazon has either shuttered or killed plans to open 42 facilities totaling almost 25 million …
Rising Mortgage Rates Complicate Decision on Buying Versus Renting
Wall Street Journal, Sept. 2, 2022–Ben Eisen, Nicole Friedman (subscription)“The ratio is a great indicator for households deciding ‘should we rent or should we go ahead and buy?’” said Edward …
Housing Beat for Sept. 1: A Shifting Market With Problematic Data
ValueWalk, Sept. 1, 2022–Phil HallThis week’s housing industry news showed a continued deceleration in mortgage applications, the first increase in time on market in more than two years and a …