Orange County Register, June 2, 2022–Jeff LazersonHow much money is in your wallet? How stable is your job or your customer base as recession chatter picks up? If your answers …
Category: Top National News
FHA/VA Endorsements Down Nearly 20% in First Quarter
Inside Mortgage Finance, May 31, 2022–Andraas MalatinszkyVA lending fell 19.6% quarter-over-quarter to $67.0 billion while FHA production dropped 18.7% to $61.7 billion. The decline in both lending programs was focused …
No-Doc Loans Show Signs of Growth under CDFI Exemption
National Mortgage News, May 31, 2022–Bonnie Sinnock (subsription)Volume of privately-securitized no-doc loans made by community development financial institutions is modest, but is growing along with their overall lending activity.https://www.nationalmortgagenews.com/news/no-doc-loans-show-signs-of-growth-under-cdfi-exemption
Fed Fears Hit Mortgage Bonds, Attracting Investors
Wall Street Journal, May 31, 2022–Matt Wirz (subscription)A $5.5 trillion bond market supporting the U.S. mortgage industry is being roiled by fears it will be hit in the Federal Reserve’s …
CFPB Wants Lenders to Disclose Reason for Denial of Credit
HousingWire, May 27, 2022–Maria VolkovaThe CFPB said that all lenders, including those using complicated algorithmic models for underwriting decisions, must abide by ECOA and disclose why a customer is denied …
Jumbo-Conforming Spread Reaches Near Record Levels
Inside Mortgage Finance, May 27, 2022–Brandon IveyInterest rates on jumbo mortgages are currently much lower than those on comparable conventional-conforming loans. Two factors appear to be driving the spread: uncertainty …
Freddie Mac Single-Family Division Chief Announces Resignation
HousingWire, May 27, 2022–Georgia KromreiDonna Corley, head of the single-family division at Freddie Mac, is stepping down from her post at the government-sponsored enterprise.https://www.housingwire.com/articles/freddie-mac-single-family-donna-corley-out/
Equifax To Tell Lenders Of Potential Errors In Credit Scores
National Mortgage Professional, May 27, 2022–Steven GoodeEquifax, one of the country’s three largest consumer credit reporting agencies, has or will notify lenders that a coding issue introduced during a technology …
ARMs of Mass Destruction
Mortgage Professional America, May 27, 2022–Richard TornePotentially risky ARMs have gained in popularity in recent months. Data from the Mortgage Bankers Association show ARMs now account for almost 10% of …
MSR Share of Assets at Nonbanks Varies Widely
Inside Mortgage Finance, May 26, 2022–Paul MuoloWith the Federal Housing Finance Agency and Ginnie Mae contemplating how mortgage servicing rights should impact their assessments of nonbanks, a look at how …