National Mortgage News, Feb. 4, 2022–Jim Lockhart, Pat Lawler (subscription)If Britney Spears is out of conservatorship after 13 years, why not Fannie Mae and Freddie Mac?https://www.nationalmortgagenews.com/opinion/take-fannie-and-freddie-out-of-conservatorship-before-its-too-late
Category: Top National News
San Diego Surpasses San Francisco As The Least Affordable Metro In The U.S.
National Mortgage Professional, Feb. 4, 2022–Navi PersaudResearch published by OJO Labs revealed that San Diego is now the least affordable metro in the U.S., moving ahead of both San Francisco …
Nonbank Servicers Rack up Gains, Wells Fargo Falls Back to Earth
Inside Mortgage Finance, Feb. 3, 2022–John BancroftWells Fargo reported a 2.5% decline in owned servicing during the fourth quarter of 2021, sawing off its portfolio down to $991.48 billion. That’s …
Home Values Increase Faster In Family-Friendly Neighborhoods
Benzinga, Feb. 3, 2022–Phil HallThe Mortgage Bankers Association’s Market Composite Index, which measures home loan application volume, jumped by 12% for the week ending Jan. 28 compared to one week …
Get Ready for Non-QM’s Biggest Year Yet
Mortgage Professional America, Feb. 2, 2022–Allen MeigideThe Mortgage Bankers Association (MBA) is forecasting that purchase originations are expected to grow 9% to a new record of $1.73 trillion in 2022 …
Watchdog: FHFA Wanted to Pay Exec $250K ‘Bonus’
HousingWire, Jan. 31, 2022–Georgia Kromrei (subscription)Last March, then-Federal Housing Finance Agency Director Mark Calabria wanted to pay a Fannie Mae executive a $250,000 “bonus,” under the guise of a retention …
An Earnings Plunge for loanDepot. Servicing Write-downs Too
Inside Mortgage Finance, Feb. 1, 2022–Paul MuololoanDepot, the first of the nonbank mortgage bellwethers to report fourth quarter results, saw net income plunge 90.5% in the October-December period, blaming the …
Loan Mod Volume Climbs as Forbearance Exits Continue
DSNews, Feb. 1, 2022–Eric C. PeckThe latest U.S. RMBS Servicer Metric Report examining the Q3 of 2021 from Fitch Ratings has found that non-prime loan modifications surged as forbearance plans …
A Gargantuan Year for MSR Transfers But a Downturn in 4Q21
Inside Mortgage Finance, Jan. 31, 2022–John BancroftThe secondary market in agency mortgage servicing rights rebounded strongly in 2021, especially in bulk transactions, according to a new Inside Mortgage Trends analysis.https://www.insidemortgagefinance.com/articles/223653-a-gargantuan-year-for-msr-transfers-but-a-downturn-in-4q21?v=preview
2022 ‘Probably Going to Be One of the Worst Years in Mortgage Banking’
Mortgage Professional America, Jan. 31, 2022–Richard TorneAnd with companies facing a more competitive market, the expectation is there’ll be lower profit margins and ‘industry consolidation’, a nice sounding euphemism used …