HousingWire, Sept. 30, 2022–Chris ClowThe D.C. District Court found that the CFPB, under Trump appointee Kathy Kraninger, acted in an “arbitrary and capricious” manner by exempting mortgage lenders from reporting …
Category: Top National News
AnnieMac Announces Plan To Close Its Wholesale Business
National Mortgage Professional, Sept. 30, 2022–David KrechevskyNew Jersey-based American Neighborhood Mortgage Acceptance Co. LLC, which does business as AnnieMac Home Mortgage, announced on its website this week that it will …
Mortgage Refinancing Drops to a 22-Year Low as Interest Rates Surge Even Higher
CNBC, Sept. 28, 2022–Diana OlickApplications to refinance a home loan dropped 11% for the week and were 84% lower than the same week one year ago. (MBA mention)https://www.cnbc.com/2022/09/28/mortgage-refinancing-drops-to-a-22-year-low-.html
Hurricane Ian’s Damage to Florida Homes Could Total $258.5B
National Mortgage News, Sept. 28, 2022–Maria Volkova (subscription)Hurricane Ian, a Category 4 storm, is expected to make landfall on the Florida Gulf Coast imminently. Potential damage to homes in its …
Fannie Mae Launches Rent Payment Reporting Pilot Program
HousingWire, Sept. 27, 2022–James KleimannFannie Mae on Tuesday launched a pilot program to help renters of multifamily properties build their credit histories and improve their credit scores.https://www.housingwire.com/articles/fannie-mae-launches-rent-payment-reporting-pilot-program/
Commercial Mortgage Debt Rises by Nearly $100B in Q2
Connect CRE, Sept. 27, 2022–Paul BubnyCommercial/multifamily mortgage debt outstanding increased by $99.5 billion, or 2.3%, in the second quarter of 2022, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage …
A Ray of Positive News: Home-Equity Originations Soar
Inside Mortgage Finance, Sept. 29, 2022–Andras Malatinszky (subscription)Residential lenders of all different stripes originated $72.0 billion of home-equity lines of credit and closed-end seconds in the April-June period, a handsome …
Opinion: Customer Service is a Lender’s Greatest Strength
HousingWire, Sept. 26, 2022–Eric BernsteinThese days, every week brings a new report, forecast or piece of news reminding us that the mortgage lending market is in uncharted waters. Mortgage demand …
Fed’s Evans Sees Interest Rates at 4.25-4.5% by Year End
Reuters, Sept. 27, 2022–Lindsay Dunsmuir and Catherine EvansThe U.S. Federal Reserve will need to raise interest rates by at least another percentage point this year, Chicago Fed President Charles Evans …
Foreclosure Starts Rose in August
National Mortgage News, Sept. 23, 2022–Brad Finkelstein (subscription)After increasing for two consecutive months, the national delinquency rate fell by 3.6% in August, to just 4 basis points above the record …