Inside Mortgage Finance, June 3, 2022–John BancroftNew issuance of single-family agency MBS fell sharply in May to its lowest monthly output since July 2019, according to a new Inside MBS …
Category: Top National News
The New Math of Reverse Mortgages for Retirees
Wall Street Journal, June 3, 2022–Lori Ioannou (subscription)For decades the industry’s image was tainted by horror stories about borrowers who faced foreclosure, and surviving spouses who were evicted. But today, …
Why Adjustable-Rate Mortgages Are Still Risky
New York Times, June 3, 2022–Ann CarrnsRemember adjustable-rate mortgages? Rising interest rates are again making those mortgages attractive to home buyers because the starting rate is generally lower than the …
The Economy Is Flashing Yellow Signs for CRE Investors
Wealth Management Real Estate, June 1, 2022–Elaine MisonzhnikThe high rate of inflation and the Fed’s plans to raise interest rates could slow the commercial real estate sector’s momentum.https://www.wealthmanagement.com/investment-strategies/flashing-yellow-signs?
Freddie Mac’s Broader ADU Criteria Goes into Effect
National Mortgage News, June 2, 2022–Bonnie Sinnock (subscription)The new guidelines for ADU loans the government-sponsored enterprise will buy confirms plans to provide more leeway on the number of units a …
Vulnerable Borrowers Should Pull Cash-Out Before Inflation Sinks Economy
Orange County Register, June 2, 2022–Jeff LazersonHow much money is in your wallet? How stable is your job or your customer base as recession chatter picks up? If your answers …
FHA/VA Endorsements Down Nearly 20% in First Quarter
Inside Mortgage Finance, May 31, 2022–Andraas MalatinszkyVA lending fell 19.6% quarter-over-quarter to $67.0 billion while FHA production dropped 18.7% to $61.7 billion. The decline in both lending programs was focused …
No-Doc Loans Show Signs of Growth under CDFI Exemption
National Mortgage News, May 31, 2022–Bonnie Sinnock (subsription)Volume of privately-securitized no-doc loans made by community development financial institutions is modest, but is growing along with their overall lending activity.https://www.nationalmortgagenews.com/news/no-doc-loans-show-signs-of-growth-under-cdfi-exemption
Fed Fears Hit Mortgage Bonds, Attracting Investors
Wall Street Journal, May 31, 2022–Matt Wirz (subscription)A $5.5 trillion bond market supporting the U.S. mortgage industry is being roiled by fears it will be hit in the Federal Reserve’s …
CFPB Wants Lenders to Disclose Reason for Denial of Credit
HousingWire, May 27, 2022–Maria VolkovaThe CFPB said that all lenders, including those using complicated algorithmic models for underwriting decisions, must abide by ECOA and disclose why a customer is denied …