National Mortgage News, May 26, 2022–Bonnie Sinnock (subscription)Collectively, rising rates and high home prices have added $363 to monthly home-loan payments over the last three months, according to the Mortgage …
Category: Top National News
PLS Market is on Track to Notch Record Volume this Year
HousingWire, May 24, 2022–Bill ConroyDespite the turbulence in the U.S. economy fueled by inflation, international tensions and rising mortgage rates, the private-label securities (PLS) market recorded a strong first quarter, …
Profits Grow at FHLBs
Inside Mortgage Finance, May 24, 2022–Dennis HollierThe Federal Home Loan Bank System reported combined net income of $502 million for the first quarter, up 15.4% from the previous three-month period, …
VA Removes Pre-Approval Process for Some Loans
HousingWire, May 25, 2022–Maria VolkovaThe Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who …
Mortgage Servicer Sued by Borrowers over Data Breach
National Mortgage News, May 24, 2022–Andrew Martinez (subscription)Plaintiffs in two separate complaints filed this month accuse Pingora Loan Servicing of failing to protect their personally identifiable information in a breach …
Nonbanks Ride MSR Valuations to Higher 1Q22 Earnings
Inside Mortgage Finance, May 25, 2022–Brandon IveyNonbank mortgage companies reported stronger earnings on a sequential basis in the first quarter of 2022, according to a new Inside Mortgage Trends analysis …
Proposed VA Appraisal Law Looks to Even the Playing Field
HousingWire, May 23, 2022–Maria VolkovaA piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran …
Fratantoni: Why FHFA and GSEs Should Revisit Their Pricing Framework
HousingWire, May 23, 2022–Mike FratantoniPotential homebuyers in today’s market are facing a number of challenges, including increasing mortgage rates and a sizeable supply and demand imbalance that is pushing home-price …
Better Reportedly Cuts More Workers Ahead of SPAC Merger
National Mortgage News, May 19, 2022–Andrew Martinez (subscription)The lender, which has already spent up to $84.1 million in layoff expenses, cut approximately 920 workers in India, TechCrunch and local media …
More Home Buyers Look to Adjustable-Rate Loans as Mortgage Interest Rates Soar
WBUR/NPR, May 20, 2022–Lisa MullinsMortgage interest rates are spiking as housing demand outstrips supply and the Federal Reserve tries to tamp down inflation. That’s driving more buyers to adjustable-rate mortgages. …