Inside Mortgage Finance, May 27, 2022–Brandon IveyInterest rates on jumbo mortgages are currently much lower than those on comparable conventional-conforming loans. Two factors appear to be driving the spread: uncertainty …
Category: Top National News
Freddie Mac Single-Family Division Chief Announces Resignation
HousingWire, May 27, 2022–Georgia KromreiDonna Corley, head of the single-family division at Freddie Mac, is stepping down from her post at the government-sponsored enterprise.https://www.housingwire.com/articles/freddie-mac-single-family-donna-corley-out/
Equifax To Tell Lenders Of Potential Errors In Credit Scores
National Mortgage Professional, May 27, 2022–Steven GoodeEquifax, one of the country’s three largest consumer credit reporting agencies, has or will notify lenders that a coding issue introduced during a technology …
ARMs of Mass Destruction
Mortgage Professional America, May 27, 2022–Richard TornePotentially risky ARMs have gained in popularity in recent months. Data from the Mortgage Bankers Association show ARMs now account for almost 10% of …
MSR Share of Assets at Nonbanks Varies Widely
Inside Mortgage Finance, May 26, 2022–Paul MuoloWith the Federal Housing Finance Agency and Ginnie Mae contemplating how mortgage servicing rights should impact their assessments of nonbanks, a look at how …
Mortgage Payments Keep Rising By Around $100 Per Month
National Mortgage News, May 26, 2022–Bonnie Sinnock (subscription)Collectively, rising rates and high home prices have added $363 to monthly home-loan payments over the last three months, according to the Mortgage …
PLS Market is on Track to Notch Record Volume this Year
HousingWire, May 24, 2022–Bill ConroyDespite the turbulence in the U.S. economy fueled by inflation, international tensions and rising mortgage rates, the private-label securities (PLS) market recorded a strong first quarter, …
Profits Grow at FHLBs
Inside Mortgage Finance, May 24, 2022–Dennis HollierThe Federal Home Loan Bank System reported combined net income of $502 million for the first quarter, up 15.4% from the previous three-month period, …
VA Removes Pre-Approval Process for Some Loans
HousingWire, May 25, 2022–Maria VolkovaThe Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who …
Mortgage Servicer Sued by Borrowers over Data Breach
National Mortgage News, May 24, 2022–Andrew Martinez (subscription)Plaintiffs in two separate complaints filed this month accuse Pingora Loan Servicing of failing to protect their personally identifiable information in a breach …