National Mortgage News, May 19, 2022–Bonnie Sinnock (subscription)Technology vendors in the default management space are working to offer faster, less siloed systems to address the resumption of activity in this …
Category: Top National News
More Subprime Borrowers Are Missing Loan Payments
Wall Street Journal, May 19, 2022–AnnaMaria Andriotis (subscription)Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest …
Expanded-Credit Mortgages Defy the Odds, Showing Growth in 1Q
Inside Mortgage Finance, May 19, 2022–John BancroftIt’s hard to believe most lenders aren’t thinking about getting into the expanded-credit mortgage market now that the major sectors are in tatters.https://www.insidemortgagefinance.com/articles/224646-expanded-credit-mortgages-defy-the-odds-showing-growth-in-1q?v=preview
HELOC Loans Surged at End of 2021 Amid Rising Mortgage Rates: TransUnion
Fox Business, May 20, 2022–Kelsey RamirezRising interest rates and higher costs have begun to impact consumers across the U.S., but they’re still finding ways to take out loans and pull …
A Rare Decline in MBS Holdings for Banks, Thrifts
Inside Mortgage Finance, May 20, 2022–John BancroftCommercial banks and savings institutions reported a rare decline in their residential MBS holdings during the first quarter.https://www.insidemortgagefinance.com/articles/224663-a-rare-decline-in-mbs-holdings-for-banks-thrifts?v=preview
FHA ‘Bids’ to Outmaneuver Investors in Favor of Underserved Buyers
Mortgage Professional America, May 16, 2022–Richard TorneThe Federal Housing Administration announced a 30-day exclusive period to give underserved buyers and non-profits an opportunity to bid on foreclosed properties before investors.https://www.mpamag.com/us/mortgage-industry/market-updates/fha-bids-to-outmaneuver-investors-in-favor-of-underserved-buyers/406124
MBA Chief: Recent LLPA Changes ‘Doing More Harm Than Good’
Inside Mortgage Finance, May 16, 2022–Paul Muolo, Dennis Hollier (subscription)The Mortgage Bankers Association Monday morning took aim at the recently installed loan-level price adjustments on second homes and high-balance loans …
ARMs are Back, But This Time They’re Different
Axios Markets, May 13, 2022–Emily PeckAdjustable-rate mortgages, which start out with a relatively low rate that jumps after a certain time period, comprised nearly 11% of mortgage applications last week, …
Rocket CEO Predicts A Recession
National Mortgage Professional, May 12, 2022–Doug PageComing off an earnings report two days ago that showed his company with $2.3 billion in cash, Rocket Companies CEO Jay Farner predicted in …
Mortgage Rates Edge Up, Adding Hundreds to Buyers’ Monthly Payments
Washington Post, May 12, 2022–Susan Doyle, Michele LernerMortgage rates continued to climb this week, adding more financial strain on hopeful home buyers as they wade into the competitive spring and …