Inside Mortgage Finance, Aug. 15, 2022–Paul MuoloWells Fargo, which has been scaling back its presence in the residential sector the past few years, is contemplating major revisions to its correspondent …
Category: Top National News
Average Mortgage Debt Rose 14% over the Past 5 Years
Independent Tribune (N.C.), Aug. 11, 2022–Dom DiFurioAverage mortgage debt held by American homeowners has risen 14%, according to Experian data. At the end of 2021, the average mortgage balance was …
Private Mortgage Insurance Share Rises Above 50% Mark in 2Q
Inside Mortgage Finance, Aug. 11, 2022–John BancroftPrivate guarantors accounted for over half of the home loans originated in the second quarter with primary mortgage insurance, according to a new Inside …
Fannie, Freddie Both Pass 2022 Stress Tests Despite Misalignment on Risk Rating
American Banker, Aug. 11, 2022–Kyle Campbell (subscription)Fannie Mae and Freddie Mac, the government-backed mortgage companies, would face a combined credit loss of more than $17 billion under this year’s stress …
Equifax Should Face Curbs on Selling Credit Scores, Maxine Waters Says
Wall Street Journal, Aug. 10, 2022–AnnaMaria Andriotis (subscription)Maxine Waters, chairwoman of the House Financial Services Committee, asked the Consumer Financial Protection Bureau to stop Equifax from selling credit scores to …
There’s More Blood on the Tracks in the Non-QM Market
HousingWire, Aug. 9, 2022–Bill ConroyThe REIT, which is managed by investment advisor Western Asset Management Co. LLC, recently announced that it is exploring a potential company sale or merger in …
Lower Profits for Nation’s #3 Originator, UWM. MSRs Bolster Weaker Originations
Inside Mortgage Finance, Aug. 9, 2022–Brandon IveyUnited Wholesale Mortgage posted net income of $215.4 million for the second quarter, a sequential decline of 52.5% as higher interest rates and lower …
Volatility in Expanded-Credit Market Shakes Up MBS Contributors
Inside Mortgage Finance, Aug. 8, 2022–Brandon IveyLenders that have traditionally served as the leading contributors to expanded-credit MBS slowed their activity during the second quarter.https://www.insidemortgagefinance.com/articles/225348-volatility-in-expanded-credit-market-shakes-up-mbs-contributors?v=preview
Volatility in Expanded-Credit Market Shakes Up MBS Contributors
Inside Mortgage Finance, Aug. 8, 2022–Brandon IveyLenders that have traditionally served as the leading contributors to expanded-credit MBS slowed their activity during the second quarter.https://www.insidemortgagefinance.com/articles/225348-volatility-in-expanded-credit-market-shakes-up-mbs-contributors?v=preview
Mortgage Insurer Earnings Grow in 2Q
National Mortgage News, Aug. 8, 2022–Brad Finkelstiein (subscription)Private mortgage insurers reported strong earnings during a quarter in which their mortgage originator clients were not doing so well.https://www.nationalmortgagenews.com/list/mortgage-insurer-earnings-grow-in-2q