Inside Mortgage Finance, June 17, 2022–Paul MuoloIf warehouse lending executives can agree on one thing, it’s this: The bull market in commitments and usage rates of the past two years …
Category: Top National News
Wells Fargo’s Rapidly Shrinking Mortgage Business
HousingWire, June 17, 2022–James KleimannWells Fargo this week warned investors the bank’s mortgage business could drop by almost 50% in the second quarter from the prior quarter.https://www.housingwire.com/articles/wells-fargos-rapidly-shrinking-mortgage-business/
CFPB report: Many Borrowers Still Behind on Mortgage Payments After COVID-19 Forbearance
Fox Business, June 17, 2022–Kelsey RamirezA new report from the Consumer Financial Protection Bureau (CFPB) revealed many homeowners are struggling to make their monthly mortgage payments after exiting COVID-19 hardship …
Goldman Sachs Says the U.S. Housing Market Will Soon Slow Sharply…
Business Insider, June 17, 2022–Harry RobertsonGoldman Sachs expects the growth in US home prices to slow down sharply, as rising interest rates push up mortgage costs and make houses much …
Lenders Defend Offering DSCR Loans with Negative Cash Flow
Inside Mortgage Finance, June 15, 2022–Brandon IveyAs counterintuitive as it may seem, some non-agency lenders are touting their debt service coverage ratio loans for investments properties where the income generated …
U.S. Home Equity Hits Highest Level on Record—$27.8 Trillion
Wall Street Journal, June 15, 2022–Orla McCaffrey (subscription)Americans have more equity in their homes than ever before. Total U.S. home equity increased almost 20% in the first quarter to $27.8 …
Americans Are Building Vacation-Home Empires With Easy-Money Loans
Bloomberg, June 14, 2022–Prashant GopalSelling risky mortgages based on volatile per-night Airbnb income could end badly for communities, borrowers and investors.https://www.bloomberg.com/news/features/2022-06-14/airbnb-rentals-turn-into-real-estate-goldmines-with-easy-money-mortgages?srnd=premium#xj4y7vzkg
Hispanic Homeowners In Fla. Awarded $4.6M In Discrimination Lawsuit
National Mortgage Professional, June 14, 2022–Sara WolakHispanic homeowners in Florida who were plaintiffs in a federal lawsuit claiming they were targeted by predatory mortgage modification services and discriminated against based …
A Rare Slowdown in the Outsourcing of Servicing
Inside Mortgage Finance, June 14, 2022–Paul MuoloAfter several years of strong growth, the subservicing sector is starting to flatten out a bit, at least in the first quarter.https://www.insidemortgagefinance.com/articles/224887-a-rare-slowdown-in-the-outsourcing-of-servicing?v=preview
Bonds No Longer a Safe Haven? 10-Year Treasury Tops 3.33%
Inside Mortgage Finance, June 13, 2022–Paul MuoloThe yield on the benchmark 10-year Treasury reached a new 52-week high of 3.33% briefly before simmering down ever so slightly. The reason behind …