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 …
Category: Top National News
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 …
Nonbanks Ride MSR Valuations to Higher 1Q22 Earnings
Inside Mortgage Finance, May 25, 2022–Brandon IveyNonbank mortgage companies reported stronger earnings on a sequential basis in the first quarter of 2022, according to a new Inside Mortgage Trends analysis …
Proposed VA Appraisal Law Looks to Even the Playing Field
HousingWire, May 23, 2022–Maria VolkovaA piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran …
Fratantoni: Why FHFA and GSEs Should Revisit Their Pricing Framework
HousingWire, May 23, 2022–Mike FratantoniPotential homebuyers in today’s market are facing a number of challenges, including increasing mortgage rates and a sizeable supply and demand imbalance that is pushing home-price …
Better Reportedly Cuts More Workers Ahead of SPAC Merger
National Mortgage News, May 19, 2022–Andrew Martinez (subscription)The lender, which has already spent up to $84.1 million in layoff expenses, cut approximately 920 workers in India, TechCrunch and local media …
More Home Buyers Look to Adjustable-Rate Loans as Mortgage Interest Rates Soar
WBUR/NPR, May 20, 2022–Lisa MullinsMortgage interest rates are spiking as housing demand outstrips supply and the Federal Reserve tries to tamp down inflation. That’s driving more buyers to adjustable-rate mortgages. …
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 …
7 Data Breach Reporting Rules Banks Need to Understand
American Banker, May 19, 2022–Carter Pape (subscription)Three bank regulators this month began asking banks to report cybersecurity incidents within 36 hours when such breaches have caused serious harm or are …
Wells Fargo Sees End-of-Year U.S. Recession, Cuts GDP View
Reuters, May 18, 2022–Sinead CarewWells Fargo Investment Institute said on Wednesday it reduced its economic expectations with a mild U.S. recession now on the horizon in its base case scenario …