CNet, Aug. 8-8-22–Alix LangoneAs the Federal Reserve continues to jack up interest rates, homeowners are shifting their attention from refinancing to HELOCs and home equity loans.https://www.cnet.com/personal-finance/mortgages/homeowners-seek-heloc-loans-to-unlock-equity-as-the-fed-hikes-interest-rates/
Category: Top National News
Why Non-QM Lending is Not Going Away
HousingWire, Aug. 8, 2022HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022.https://www.housingwire.com/articles/why-non-qm-lending-is-not-going-away/
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
Homeowners Seek HELOC Loans to Unlock Equity As the Fed Hikes Interest Rates
CNet, Aug. 8-8-22–Alix LangoneAs the Federal Reserve continues to jack up interest rates, homeowners are shifting their attention from refinancing to HELOCs and home equity loans.https://www.cnet.com/personal-finance/mortgages/homeowners-seek-heloc-loans-to-unlock-equity-as-the-fed-hikes-interest-rates/
Mortgage Lender to Close Melville Office, Lay Off 71
Newsday (N.Y.), Aug. 5, 2022–Victor OcasioRoundPoint Mortgage Servicing Corp., a non-bank mortgage lender and refinancer, will be closing its Melville, N.Y., offices this fall, laying off 71 employees, according to …
Agency MBS Issuance Falls to 2022 Low in July
Inside Mortgage Finance, Aug. 5, 2022–John BancroftFannie Mae, Freddie Mac and Ginnie Mae issued a combined $129.42 billion of single-family MBS last month, according to loan-level disclosures that round off …
Largest Servicers Lose Some Market Share in Second Quarter
Inside Mortgage Finance, Aug. 4, 2022–John BancroftThree of the five largest services saw their portfolios shrink in the second quarter.https://www.insidemortgagefinance.com/articles/225324-largest-servicers-lose-some-market-share-in-second-quarter?v=preview
Ocwen’s Strategy Shift Notches Modest Win in Q2 Earnings
National Mortgage News, Aug. 4, 2022–Bonnie Sinnock (subscription)Ocwen Financial eked out a second quarter profit due to cost cuts, appreciation in owned mortgage servicing rights, and a shift to higher-margin …
Reverse Mortgage Market May Be Teetering on Collapse
Orange County Register, Aug. 4, 2022–Jeff LazersonRising interest rates, FHA mortgage insurance premiums and huge rebates to loan originators leave senior borrowers little opportunity to pull out cash. (MBA mention)https://www.ocregister.com/2022/08/04/reverse-mortgage-market-may-be-teetering-on-collapse/
Freedom Mortgage Sells RoundPoint to Two Harbors after 2 Years
National Mortgage News, Aug. 3, 2022–Brad Finkelstein (subscription)Freedom Mortgage has moved on from RoundPoint Mortgage Servicing Corp. barely two years after it closed on the acquisition. Matrix Financial Services, a …