Orange County Register, May 5, 2022–Jeff LazersonWith savings of 1 percentage point or more and a recession looming next year, borrowers willing to gamble on an ARM could lower their …
Category: Top National News
In 1Q22, Nonbanks Once Again Tightened Their Grip on the MSR Market
Inside Mortgage Finance, May 5, 2022 (subscription)A handful of second-tier mortgage servicers accounted for much of the ongoing growth of nonbanks in the market, according to an exclusive Inside Mortgage …
‘The Pandemic Boom in Home Sales is Over’: Mortgage Rates Soar to Highest Level Since 2009 as the Fed Pressures the Housing Market
MarketWatch, May 5, 2022–Jacob PassyMortgage rates are skyrocketing thanks to the Fed, but buyers who can tough out this difficult, changing market will be rewarded.https://www.marketwatch.com/story/the-pandemic-boom-in-home-sales-is-over-mortgage-rates-soar-to-highest-level-since-2009-as-the-fed-pressures-the-housing-market-11651760108
Fed, Biden Administration Float New Lending Rules for Lower-Income Areas
Wall Street Journal, May 5, 2022– (subscription)Top U.S. banking regulators are poised to overhaul how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era …
Mortgage Volumes Increase for First Time Since Early March
National Mortgage News, May 4, 2022–Spencer LeeThe recent slide in mortgage activity reversed course, as weekly volumes picked up for the first time since early March. Gains were reported in …
loanDepot Plans to Launch ‘Digital’ HELOC in Q3
HousingWire, May 3, 2022–Flávia Furlan NunesNonbank heavyweight loanDepot will unveil a home equity line of credit (HELOC) product in the third quarter of 2022, the first offering of its recently …
New Residential Outshines Mr. Cooper on MSR Markup: $845 Million
National Mortgage News, May 3, 2022–Paul Muolo (subscription)As most any mortgage banker knows, when rates rise — as they have this year (and rapidly) — servicing rights increase in value.https://www.insidemortgagefinance.com/articles/224484-new-residential-out-shines-mr-cooper-on-msr-markup-845-million?
Expanded-Credit MBS Issuance Hits Record in 1Q22
Inside Mortgage Finance, May 2, 2022–Brandon Ivey (subscription)Issuance of expanded-credit mortgage-backed securities sailed to a record $14.10 billion in the first quarter even as interest rates increased and spreads widened, …
MBA Networking Organization Galvanizes Women
Scotsman Guide, May 2, 2022–Hannah DardenAt a Mortgage Bankers Association conference in 2015, MBA Chief Operating Officer Marcia Davies decided to host a networking luncheon for women. She had seen …
Rising Mortgage Rates Starting to Affect Residential Housing
Washington Post, May 3, 2022–Michele LernerThe combination of the limited number of homes for sale, continued double-digit price increases and the sharp rise in mortgage rates is taking a toll …