Reuters, Mar. 15, 2022–Jonelle MarteBrianna Lombardozzi first started searching for homes in January, and Mortgage Bankers Association data shows home-loan costs have climbed roughly three-quarters of a percentage point in …
Category: Top National News
CFPB Warns Servicers It’s Watching Closely, Again
HousingWire, Mar. 14, 2022–Maria VolkovaLorelei Salas, assistant director for supervision policy at the CFPB, wrote in a blog post that the CFPB will be closely monitoring complaints of servicers not …
Moody’s Gives a Bearish Outlook on Mortgages, Nonbanks Beware
Inside Mortgage Finance, Mar. 15, 2022–Paul MuoloThe bloom is off the rose in the mortgage industry with the immediate outlook for profitability worsening, especially in the nonbank sector, according to …
Nearly Half of Americans Say They Pay Too Much in Taxes
Bloomberg, Mar. 14, 2022–Suzanne WoolleyMany overpay by choice to get a fat tax refund, but fine-tuning withholding can help cash flow now.https://www.bloomberg.com/news/articles/2022-03-14/is-getting-a-tax-refund-worth-it-many-americans-say-they-overpay-the-irs?srnd=premium
Increase in Mortgage Limits Impacts GSE Seller Volume
Inside Mortgage Finance, Mar. 14, 2022–Dennis HollierVolume of loans sold to Fannie Mae and Freddie Mac declined 23.0% from January to February and was down 35.4% year-over-year, according to a …
Opinion: Affordable Lending Requires Creative Thinking
HousingWire, Mar. 11, 2022–Roland WeedonThe author, President and CEO of Essex Mortgage, says “owning a house with the white picket fence may be a key part of the American dream, …
U.S. Household Net Worth Jumps to a Record on Housing, Stocks
Bloomberg, March 11, 2022–Reade PickertU.S. household net worth jumped to a fresh record in the fourth quarter on rising stock prices and higher home values, a Federal Reserve report showed …
Gen Z and Millennials are Skipping Rent and Mortgages to Pay off Medical Debt
Business Insider, Mar. 11, 2022–Jason LalljeeMedical debt is getting in the way of young people paying rent or making their mortgage. That’s what a new survey on medical debt from …
A Big Bank is in Trouble, and No One Knows Which One or Why
American Banker, Mar. 10, 2022–Claire Williams (subscription)The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules …
Wells Fargo Left Black Homeowners Behind in Pandemic Mortgage Refinancing Boom
Bloomberg, Mar. 11, 2022–Shawn Donnan, Ann Choi, Hannah Levitt, Christopher CannonKristy Fercho, who in August 2020 became the first Black woman to oversee Wells Fargo’s home-lending business and its more …