Inside Mortgage Finance, Mar. 10, 2022–John BancroftOriginations of big-ticket home loans set an annual record in 2021, no thanks to a lukewarm agency market for high-balance loans.https://www.insidemortgagefinance.com/articles/224006-non-agency-offsets-stumble-in-fanniefreddie-jumbo-market?v=preview
Category: Top National News
FHA Gets a Budget Boost To Stem Staff Shortages. Is It Enough?
HousingWire, Mar. 10, 2022–Maria VolkovaFormer agency officials question whether a cash injection is enough to take on systemic problems like uncompetitive pay, a lengthy hiring process and an imminent wave …
Housing Beat: Why Are Foreclosure Filings Up 129% From Last Year?
Benzinga, Mar. 10, 2022–Phil HallThe latest data from the housing market shows a new spike in foreclosure filings, a new wave of lender uneasiness, a new record in luxury homes …
An Interesting Twist: Non-Agency MBS Issuers Stocking Deals with Ginnie EBOs
Inside Mortgage Finance, Mar. 9, 2022–Brandon IveyAn affiliate of Bayview Asset Management offered a $423.6 million non-agency MBS Tuesday with loans that were bought out from Ginnie Mae MBS. Non-agency …
California Man Pleads Guilty to Mortgage Modification Scam
Mortgage Professional America, Mar. 9, 2022–Tony CantuSergio Lorenzo Rodriguez of Orange County, Calif., pled guilty to one count of wire fraud in connection with a fraudulent foreclosure rescue scheme that …
Trump Refinances $100 Million Mortgage On Trump Tower With A Bank Headed By A Political Supporter
Forbes, Mar. 9, 2022–Zach EversonThe financing came from Axos Bank of San Diego, which launched in 2000 as Bank of Internet USA. Its CEO, Gregory Garrabrants, has contributed $50,000 to …
SEC Proposes Requiring Firms to Report Cyber Attacks Within Four Days
Wall Street Journal, Mar. 9, 2022–Paul Kiernan (subscription)Federal regulators are considering a requirement that publicly traded companies disclose data breaches and other significant cybersecurity incidents within four days, as they …
Nearly $2B in Fannie Mae, Freddie Mac Servicing is Up for Sale
National Mortgage News, Mar. 8, 2022–Brad Finkelstein (subscription)Mortgage Industry Advisory Corp. is brokering for an unnamed mortgage banker a $1.94 billion Fannie Mae and Freddie Mac mortgage servicing rights portfolio.https://www.nationalmortgagenews.com/news/nearly-2b-in-fannie-mae-freddie-mac-servicing-is-up-for-sale
A Nice Bounce Back for Expanded-Credit Lending in 2021
Inside Mortgage Finance, Mar. 7, 2022–Brandon IveyOriginations of expanded-credit mortgages increased significantly in 2021, indicating that the financial impact of the coronavirus pandemic is now firmly in the rearview mirror.https://www.insidemortgagefinance.com/articles/223971-a-nice-bounce-back-for-expanded-credit-lending-in-2021?v=preview
What Home Prices Will Look Like in 2023, According to Fannie Mae
Fortune, March 7, 2022–Lance LambertFannie Mae just became the latest real estate firm to shift up its 2022 forecast. Last year, Fannie Mae predicted that the median existing home price …