Inside Mortgage Finance, Jan. 10, 2022–Paul MuoloThe long-anticipated slowdown in mortgage hiring finally appears to be here, courtesy of higher interest rates and a decline in applications.https://www.insidemortgagefinance.com/articles/223467-mortgage-pink-slips-begin-to-proliferate-non-qm-sector-insulated?v=preview
Category: Top National News
Americans’ Finances Got Stronger in the Pandemic—Confounding Early Fears
Wall Street Journal, Jan. 9, 2022–Rachel Louise Ensign (subscription)Stimulus payments brought millions out of poverty and allowed them to clear debt, and households of all income levels built up savings. …
Bed Bath and Beyond Is Closing More Stores
Wall Street Journal, Jan. 7, 2022–Allison Prang (subscription)Bed Bath and Beyond Inc. said it is closing 37 stores as the retailer continues to shrink its store count. The company is …
Fraud Costs And Attack Volume Increase For Mortgage Lenders
National Mortgage Professional, Jan. 7, 2022–Katie JensenMortgage lending fraud now costs 23.5% more than it did just before the pandemic hit in 2020, according to a new study by LexisNexis …
The Final MBS/ABS Tally for 2021: A Record $4.3 Trillion
Inside Mortgage Finance, Jan. 7, 2022–John BancroftThanks to a strong start, the structured finance market pumped out record levels of MBS and ABS issuance in 2021.https://www.insidemortgagefinance.com/articles/223459-the-final-mbsabs-tally-for-2021-a-record-43-trillion?v=preview
Industry Groups On Guard As Biden Pushes For Regulatory Changes
Commercial Mortgage Alert, Jan. 7, 2022–Steve Chambers“What’s been really impressive is the ability of the industry to articulate its needs during the pandemic,” said Michael Flood, the Mortgage Bankers Association’s …
CMBS Delinquency Rate Up For The First Time In 18 Months
Benzinga, Jan. 6, 2022–Phil HallThe delinquency rate for commercial mortgage-backed securities (CMBS) ended 2021 on a rare uptick, according to new data from Trepp LLC.https://www.benzinga.com/news/22/01/24931430/cmbs-delinquency-rate-up-for-the-first-time-in-18-months
FHFA to GSEs: Back to the Drawing Board on Duty to Serve
HousingWire, Mar. 6, 2022–Georgia KromreiAccording to an FHFA spokesperson, neither Fannie nor Freddie’s plan is sufficient for any of the three underserved markets in question. The spokesperson declined to say …
Agencies Set Annual Record In 2021 Despite a Slower 4Q
Inside Mortgage Finance, Jan. 6, 2022–John BancroftIssuance of new single-family mortgage-backed securities by Fannie Mae, Freddie Mac and Ginnie Mae declined again in the fourth quarter of 2021, according to …
How Will Rising Interest Rates Affect the Housing Market?
Barron’s Live, Jan. 5, 2022–Jacob Passy, Mike FratantoniMichael Fratantoni, chief economist at the Mortgage Bankers Association, explains the implications for the housing and mortgage markets.https://www.barrons.com/podcasts/barrons-live/how-will-rising-interest-rates-affect-the-housing-market/00528375-1749-4fb1-addd-c2599552356e?page=1