HousingWire, May 2, 2022–Flávia Furlan NunesSix months ago Interfirst Mortgage Co. issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more …
Category: Top National News
Servicers Raise Concerns Over GSE Eligibility Requirements
Inside Mortgage Finance, May 2, 2022–Dennis Hollier (subscription)The Mortgage Bankers Association criticized the FHFA plan to impose a 2% liquidity requirement on servicers’ hedging position in the TBA market.https://www.insidemortgagefinance.com/articles/224476-servicers-raise-concerns-over-gse-eligibility-requirements?
Redwood to Acquire Bridge-Loan Originator; Profit Declines in 1Q
Inside Mortgage Finance, Apr. 29, 2022–Brandon IveyRedwood Trust, a top player in correspondent acquisitions, plans to boost its involvement in business-purpose lending by acquiring Riverbend Funding, an originator based in …
St. Petersburg’s First Home Bank Parent Cuts 65 Jobs Amid Mortgage Losses
Tampa Bay Times, Apr. 29, 2022–Jay CridinWith its residential mortgage business slumping to start 2022, the parent company of St. Petersburg’s First Home Bank said it cut its workforce by …
Mr. Cooper Lays Off 250, Predicts Two Tough Quarters Ahead
National Mortgage News, Apr. 29, 2022–Brad Finkelstein (subscription)While Mr. Cooper had a strong earnings performance in the first quarter, going forward, at least in the near term, will be a …
Redfin Settles Fair Housing Act Lawsuit
HousingWire, Apr. 29, 2022–Matthew BlakeRedfin must revamp its business – including eliminating a minimum home price for service – in order to serve more non-white homebuyers. That was but one …
Big Fed Rate Hikes Ahead, Amid Early Signs Hot Inflation is Peaking
Reuters, Apr. 29, 2022–Lindsay Dunsmuir, Ann SaphirU.S. Federal Reserve policymakers look set to deliver a series of aggressive interest rate hikes at least until the summer to deal with hot …
Stopping ‘Legal’ Tax Lien Thievery
The Housing Scene (UExpress), Apr. 29, 2022–Lew SichelmanDeborah Foss is a 67-year-old grandmother in New Bedford, Massachusetts. She no longer has a roof over her head — largely because an …
Redfin Settles Fair Housing Act Lawsuit
HousingWire, Apr. 29, 2022–Matthew BlakeRedfin must revamp its business – including eliminating a minimum home price for service – in order to serve more non-white homebuyers. That was but one …
Freddie Mac Now Worth $31.7B but G-Fee Income Falls
HousingWire, Apr. 28, 2022–Georgia KromreiFreddie Mac reported net income of $3.8 billion for the first quarter of 2022, an increase of 37% year-over-year, even as purchase and refinance activity continued …