HousingWire, Jan. 21, 2022–Flavia Furlan Nunes (subscription)Plaintiffs claim servicer violated Maryland’s statutes by illegally charging $5 for monthly payments online or by phone.https://www.housingwire.com/articles/court-authorizes-class-action-against-carrington-over-servicing-fees/
Category: Top National News
FHA to Weigh Mortgage Insurance Premium Cut after 1Q
National Mortgage News, Jan. 20, 2022–Bonnie Sinnock (subscription)The Federal Housing Administration plans to consider the question of whether any change should be made to the mortgage insurance premiums after March, …
More than 5 Million Borrowers Just Missed Their Chance to Save on a Mortgage Refinance
CNBC, Jan. 21, 2022–Diana OlickThe average rate on the 30-year fixed loan has jumped more than 50 basis points since the start of this year, cutting the number of refinance …
New HOA Questionnaire Could Torpedo Condo Financing Under Fannie, Freddie
Orange County Register, Jan. 20, 2022–Jeff LazersonA nightmare scenario looms for condo buyers applying for certain types of federally backed mortgages. If you are selling or are looking to buy …
Higher Construction Cost Force New Home Buyers to Seek Larger Loans
National Mortgage News, Jan. 20, 2022–Brad Finkelstein (subscription)Higher building costs pushed the average size for a mortgage on a newly constructed home to a record high, but also contributed to …
Primary MI Market Follows 2021 Product Shifts
Inside Mortgage Finance, Jan. 20, 2022–John BancroftThe volume of single-family loans with primary mortgage insurance sold into the agency market in 2021 didn’t change much from the previous year, according …
For Fannie and Freddie Another Record Year for MBS Issuance
Inside Mortgage Finance, Jan. 19, 2022–Dennis HollierFannie Mae and Freddie Mac closed out 2021 with a record $2.632 trillion in combined single-family mortgage-backed securities issued. That was up 10.1% on …
As College Enrollments Drop, Pressure Grows on Student Housing
GlobeSt.com, Jan. 18, 2022–Erik ShermanIt looked like student housing would see a good year in 2022. Student housing vacancies dropped to a seven-year low. But enrollment numbers suggest that not …
California Mortgage Relief Program to Pay Homeowners with COVID-19 Hardship Up to $80K
Fox Business, Jan. 18, 2022–Kelsey RamirezThe program makes $1 billion in federal funding available to homeowners who encountered financial hardship due to COVID-19. The funds provided through the program also …
U.S. Commercial, Multifamily Mortgage Delinquencies Declined in Late 2021
World Property Journal, Jan. 18, 2022–Monsef RachidAccording to the Mortgage Bankers Association’s latest CREF Loan Performance Survey, delinquency rates for mortgages backed by commercial and multifamily properties declined during the …