Reuters, May 10, 2022–Dan BurnsU.S. household debt rose to a record $15.84 trillion in the first quarter driven almost entirely by a $250 billion increase in home loan balances, but …
Category: Top National News
Risk of Mortgage Fraud is on in the Current Market
HousingWire, May 10, 2022–Bill ConroyEric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. The problem: They did …
The Mortgage Refi Boom Is Running Out
Wall Street Journal, May 10, 2022–Orla McCaffrey (subscription)Rising interest rates dealt a critical blow to mortgage originations in the first quarter. (MBA mention)https://www.wsj.com/articles/the-mortgage-refi-boom-is-running-out-11652206979?mod=flipboard
Rising Mortgage Rates Mean Home Buyers Pay Hundreds of Dollars More Per Month
Philadelphia Inquirer, May 10, 2022–Michaelle BondAcross the country, they are paying hundreds of dollars more a month than they would have if they bought at the start of the year, …
The Challenges in Underwriting for Today’s Self-Employed Borrowers
National Mortgage News, May 11, 2022–Spencer Lee (subscription)As lenders seek new clients, many are now looking for opportunities among self-employed and small-business owners. But the bar for self-employed borrowers to …
Chopra’s Expansive Vision for CFPB Authority is Facing Industry Pushback
American Banker, May 11, 2022–Kate Berry (subscription)A dizzying number of policy changes and enforcement actions by the Consumer Financial Protection Bureau in recent weeks has prompted aggressive pushback from banks …
Julia Gordon Confirmed as New FHA Commissioner
HousingWire, May 11, 2022–Maria VolkovaGordon was narrowly confirmed to be the FHA commissioner. Vice President Kamala Harris cast the deciding vote, breaking a 50-50 tie. Her confirmation brings an end …
Chopra’s Expansive Vision for CFPB Authority is Facing Industry Pushback
American Banker, May 11, 2022–Kate Berry (subscription)A dizzying number of policy changes and enforcement actions by the Consumer Financial Protection Bureau in recent weeks has prompted aggressive pushback from banks …
The Challenges in Underwriting for Today’s Self-Employed Borrowers
National Mortgage News, May 11, 2022–Spencer Lee (subscription)As lenders seek new clients, many are now looking for opportunities among self-employed and small-business owners. But the bar for self-employed borrowers to …
U.S. Household Debt Nears $16trln, But Mortgage, Auto Loan Demand Wanes–NY Fed
Reuters, May 10, 2022–Dan BurnsU.S. household debt rose to a record $15.84 trillion in the first quarter driven almost entirely by a $250 billion increase in home loan balances, but …