Orange County Register, July 28, 2022–Jeff LazersonBusiness owners may be able to ride out a possible recession by tapping their home equity, thanks to a new “second mortgage” product that …
Category: Top National News
Mr. Cooper’s Earnings Slide From Q1 But Benefit From Servicing
National Mortgage News, July 27, 2022–Brad Finkelstein (subscription)Mr. Cooper’s second quarter profits, which marked big declines from both the same quarter in 2021 and the previous period this year, were …
New Home Sales Make it Clear: Housing is in a Recession
HousingWire, July 26, 2022–Logan MohtashamiTuesday’s report on new home sales came in as a miss of estimates and prior revisions were all negative. This data line confirms what we all …
Xactus Adds Flood Services With MassiveCert Purchase
National Mortgage News, July 26, 2022–Brad Finkelstein (subscription)Xactus, which through a series of deals evolved into one of the largest trimerge credit report providers, has moved into the flood services …
Act Quickly to Avoid Foreclosure
The Housing Scene (UExpress), July 15, 2022–Lew SichelmanExperts say that a 2008-style housing crash is unlikely to happen now, if only because lending standards are much tighter than they were …
Non-Agency MBS Issuance Down 22% in 2Q22
Inside Mortgage Finance, July 15, 2022–John BancroftProduction of new non-agency MBS fell sharply in the second quarter, although some sectors held up better than others.https://www.insidemortgagefinance.com/articles/225156-non-agency-mbs-issuance-down-22-in-2q22?v=preview
FHA Promises Updates to Its Renovation Programs
National Mortgage News, July 15, 2022–Brad Finkelstein (subscription)As part of its plans to address the housing shortage, the Federal Housing Administration is planning to revamp its Section 203(k) home renovation …
GOP Congressmen Demand Greater Oversight Of Fannie, Freddie
National Mortgage Professional, July 15, 2022–David Krechevsky10 Republican members send letter to FHFA Director Sandra Thompson expressing concern about GSEs going beyond their approved roles.https://nationalmortgageprofessional.com/news/gop-congressmen-demand-greater-oversight-fannie-freddie
Wells Fargo Mostly Defeats Two Lawsuits Over Mortgage Losses
Reuters, July 12, 2022–Jonathan StempelWells Fargo & Co on Tuesday won the dismissal of one lawsuit and much of a second accusing the fourth-largest bank of failing to monitor toxic …
Mortgage Relief Plans May Help Struggling Borrowers Stay Put
Orange County Register, July 14, 2022–Jeff LazersonNumerous options abound for borrowers dealing with inflation, a spike in COVID-19 and dwindling savings. (MBA mention)https://www.ocregister.com/2022/07/14/mortgage-relief-plans-may-help-struggling-borrowers-stay-put/