HousingWire, June 20, 2022–Georgia KromreiMortgage industry stakeholders say a new 50 basis point fee on some Fannie Mae and Freddie Mac securities runs counter to the premise of a uniform …
Category: Top National News
Commercial Mortgage Debt in U.S. Hits Record $4.25 Trillion in Q1
World Property Jounral, June 20, 2022–David BarleyAccording to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report, U.S. commercial/multifamily mortgage debt outstanding increased by $74.2 billion (1.8 percent) …
Fannie Mae, Freddie Mac Impose New Fee for Some Securities Transactions
HousingWire, June 16, 2022–Bill ConroyFannie Mae and Freddie Mac plan to charge a new 50 basis-point fee for certain structured-finance offerings that use co-mingled agency securities as the underlying collateral.https://www.housingwire.com/articles/fannie-mae-freddie-mac-impose-new-fee-for-some-securities-transactions/
Warehouse Usage Rates Crater as Nonbanks Suffer
Inside Mortgage Finance, June 17, 2022–Paul MuoloIf warehouse lending executives can agree on one thing, it’s this: The bull market in commitments and usage rates of the past two years …
Wells Fargo’s Rapidly Shrinking Mortgage Business
HousingWire, June 17, 2022–James KleimannWells Fargo this week warned investors the bank’s mortgage business could drop by almost 50% in the second quarter from the prior quarter.https://www.housingwire.com/articles/wells-fargos-rapidly-shrinking-mortgage-business/
CFPB report: Many Borrowers Still Behind on Mortgage Payments After COVID-19 Forbearance
Fox Business, June 17, 2022–Kelsey RamirezA new report from the Consumer Financial Protection Bureau (CFPB) revealed many homeowners are struggling to make their monthly mortgage payments after exiting COVID-19 hardship …
Goldman Sachs Says the U.S. Housing Market Will Soon Slow Sharply…
Business Insider, June 17, 2022–Harry RobertsonGoldman Sachs expects the growth in US home prices to slow down sharply, as rising interest rates push up mortgage costs and make houses much …
Lenders Defend Offering DSCR Loans with Negative Cash Flow
Inside Mortgage Finance, June 15, 2022–Brandon IveyAs counterintuitive as it may seem, some non-agency lenders are touting their debt service coverage ratio loans for investments properties where the income generated …
U.S. Home Equity Hits Highest Level on Record—$27.8 Trillion
Wall Street Journal, June 15, 2022–Orla McCaffrey (subscription)Americans have more equity in their homes than ever before. Total U.S. home equity increased almost 20% in the first quarter to $27.8 …
Americans Are Building Vacation-Home Empires With Easy-Money Loans
Bloomberg, June 14, 2022–Prashant GopalSelling risky mortgages based on volatile per-night Airbnb income could end badly for communities, borrowers and investors.https://www.bloomberg.com/news/features/2022-06-14/airbnb-rentals-turn-into-real-estate-goldmines-with-easy-money-mortgages?srnd=premium#xj4y7vzkg