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. …
Category: Top National News
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 …
First-Time U.S. Home Buyers Feeling ‘Defeated’ By Soaring Prices, Rising Rates
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 …
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 …