National Mortgage News, Apr. 19, 2022–Brad Finkelstein (subscription)Bank of America has entered into an agreement with a mortgage applicant who was allegedly told their loan would not be approved until …
Category: Top National News
Unable to Get a Mortgage, Millions of Americans Turn to Risky Lenders, But at What Cost?
USA Today, Apr. 20, 2022-Tiffany Cusaac-Smith, Romina Ruiz-GoirienaAt least 1 in 5 Americans have used alternative financing from 2009 to 2019, meaning many low-income buyers are purchasing homes at higher …
GSE Investment-Property Volume Holds Up Fairly Well in 1Q22
Inside Mortgage Finance, Apr. 20, 2022–Brandon IveyVolume of investment-property and second-home mortgages delivered to the GSEs held up fairly well in the first quarter of 2022 while conforming-jumbo business plummeted, …
U.S. Hotels Face $21 Billion Business-Travel Shortfall in 2022
Bloomberg, Apr. 19, 2022–Alexandre TanziBusiness travel revenue for the U.S. hotel industry is expected to fall some $20.7 billion short of pre-pandemic levels this year, after an estimated $108 billion …
Outlook for Big Box Remains Strong Despite Headwinds
GlobeSt.com, Apr. 19, 2022–Lynn PollackThe outlook for the industrial big box sector remains strong despite headwinds that include scarcity of suitable land, skyrocketing rents and ongoing supply chain woes.https://www.g
loanDepot #1 Among Contributors of Loans to Prime Non-Agency MBS
Inside Mortgage Finance, Apr. 18, 2022–Brandon IveyloanDepot was the top originator of prime mortgages that went into non-agency MBS issued during 1Q22, with $2.61 billion in contributions. Last year, the …
Opportunity Zone Funds Boosting Surge in U.S. Multifamily Construction
Urban Land magazine, Apr. 18, 2022–H. Lee MurphyOut of the wreckage of the COVID-19 pandemic, Qualified Opportunity Zone funds accelerated last year, with nearly $7 billion in new capital raised …
Homeowner Groups Seek to Stop Investors From Buying Houses to Rent
Wall Street Journal, Apr. 18, 2022–Will Parker and Nicole Friedman (subscription)Small groups of neighborhood volunteers are blocking companies from buying single-family homes, rewriting homeownership rulebooks to thwart investor purchases of …
Biden to Nominate Michael Barr as Top Fed Banking Regulator
Wall Street Journal, Apr. 15, 2022–Andrew Restuccia, Andrew Duehren (subscription)President Biden will nominate Michael Barr, a former Treasury Department official, to serve as the Federal Reserve’s top banking regulator, the …
Expanded-Credit Deals Prop Up RMBS Issuance in 1Q22, Prime Jumbo Fades
Inside Mortgage Finance, Apr. 15, 2022–John BancroftThe non-agency MBS market got off to a sluggish start in 2022 due to a slump in the scratch-and-dent sector and faltering prime MBS …