Inside Mortgage Finance, Mar. 21, 2022–Dennis HollierThe Mortgage Bankers Association endorsed FHFA’s three main goals: safety and soundness, more equitable and sustainable housing and improving FHFA’s infrastructure. But the trade …
Category: Top National News
Searching for a Gain-on-Sale Floor…
Inside Mortgage Finance, Mar. 18, 2022–Paul Muolo When it comes to gain-on-sale margins, most of the residential finance industry is still licking its wounds from the fourth quarter, a period …
CFPB Expands Its Authority to Punish Banks for Discrimination
American Banker, Mar. 18, 2022–Kate Berry (subscription)The Consumer Financial Protection Bureau has declared that discrimination associated with any financial product — not just credit — is illegal.https://www.americanbanker.com/news/cfpb-expands-its-authority-to-punish-banks-for-discrimination
Monthly Mortgage Payments Reach New High
National Mortgage Professional, Mar. 18, 2022–Keith GriffinWith mortgage rates soaring, the typical homebuyer’s monthly mortgage payment has also reached a new high of $2,123, according to a report from Redfin …
Figure Sells eNote Mortgages as NFTs in Blockchain Marketplace
National Mortgage News, Mar. 17, 2022–Andrew Martinez (subscription)Figure registered its mortgages through its own lien and eNote registry system, Digital Asset Registration Technologies, or DART, the company’s alternative to MERS …
Freddie Mac Ending Automated Appraisal Waivers on Cash-Out Refinances
Orange County Register, Mar. 17, 2022–Jeff LazersonOn Wednesday, March 16, the same day the Federal Reserve raised its benchmark interest rate, mortgage giant Freddie Mac announced it will no longer …
Homes Earned More for Owners Than Their Jobs Last Year
Wall Street Journal, Mar. 17, 2022–Nicole Friedman (subscription)In this booming housing market, many homeowners earned more last year from home appreciation than from their jobs. Zillow said home values rose …
The Decline in Home Equity Lending Continues Unabated
Inside Mortgage Finance, Mar. 17, 2022–Dennis HollierThe Federal Reserve reported that outstanding home equity debt fell to $395.63 billion in the fourth quarter, capping a 10.4% decline for the year. …
Wells Fargo Pressed by Senators on Race Disparity in Refinancing
Bloomberg, Mar. 17, 2022–Shawn Donnan, Ann ChoiSenate Banking Committee Chairman Sherrod Brown and other Democratic senators called on Thursday for regulators to investigate Wells Fargo & Co.’s treatment of Black …
Purchase Market Could Exacerbate Mortgage Lenders’ Cybersecurity Weak Spots
HousingWire, Mar. 16, 2022–Maria VolkovaRick Hill, vice president of industry technology at the Mortgage Bankers Association, said that lending is a critical component of the nation’s infrastructure, which is one …