National Mortgage News, Sept. 1, 2022–Bonnie Sinnock (subscription)otal impairments on securitized non-qualified mortgage payments in July rose for two months in a row for the first time since 2020, according …
Category: Top National News
Review of Federal Home-Loan Banks Is Planned
Wall Street Journal, Sept. 1, 2022–Andrew Ackerman (subscription)Bob Broeksmit, head of the Mortgage Bankers Association, which represents nonbank lenders, said his group welcomed the review. “There’s a need for an …
Risky Business: Financial System Needs to Be More Resilient in Face of Disasters
National Mortgage Professional, Sept. 1, 2022–Lew SichelmanWho owns all the risk when buyers ignore all those warnings about climate change and move into regions or even neighborhoods susceptible to floods, …
Wells Fargo Economist: Housing Market ‘Worse Than It Looks’
National Mortgage Professional, Sept. 1, 2022–David KrechevskyWells Fargo Senior Economist Mark Vitner told the San Francisco Business Times that it’s only a matter of time before the true nature of …
MBA Economists: The Overcapacity that Still Needs to Be Cut
HousingWire, Aug. 31, 2022–Mike Fratantoni, Marina Walsh, CMB, Joel KanMBA economists address a key question: “How much overcapacity was there in the industry for this level of volume, and how …
Wall Street-Backed Player Boost Build-to-Rent Market
HousingWire, Aug. 31, 2022–Bill ConroyInstitutional giants in the single-family rental market expand home building as the overall home-start market tanks.https://www.housingwire.com/articles/wall-street-backed-players-boost-build-to-rent-market/
Freddie Mac’s Credit Risk Transfers Set Records for 2Q, First Half
National Mortgage News, Aug. 31, 2022–Bonnie Sinnock (subscription)The government-sponsored enterprise issued approximately $6.5 billion between April and June, mitigating risks on mortgages with a total unpaid principal balance of around …
The U.S. Housing Market Downturn Will Be Worse in 2023, Forecast Goldman Sachs
Fortune, Aug. 31, 2022–Lance LambertThe U.S. entered into its first housing downturn of the post-Great Financial Crisis era. And the worst still awaits. On Tuesday, researchers at Goldman Sachs released …
Bank of America Tests No-Down-Payment Mortgages for Minority Communities
Bloomberg, Aug. 30, 2022–Katherine DohertyBank of America Corp. started a trial program aimed at helping first-time homebuyers in Black and Hispanic neighborhoods by offering mortgages that don’t require down payments, …
Bank MSR Values the Highest Since 4Q 2005
Inside Mortgage Finance, Aug. 30, 2020–Namrata BhatiaDollar volume of mortgage servicing rights banks and thrifts handled for other investors remained steady in the second quarter but the value allocation on …