New York Times, Nov. 3, 2021–Matthew GoldsteinThree years ago, Patrick Nelson’s firm, Nelson Partners Student Housing, began rapidly collecting upscale apartment buildings to grab a share of a market worth …
Category: Top National News
Nonbanks Tighten Their Grip on the Servicing Market
Inside Mortgage Finance, Nov. 4, 2021–John BancroftNonbanks accounted for just over half of the owned mortgage servicing among the top 50 firms in the market at Sept. 30, according to …
Why Do Households of Color Own Only a Quarter of the Nation’s Housing Wealth When They Compose a Third of the Nation’s Households?
Urban Institute, Nov. 2, 2021–Various AuthorsThe authors say a multilevel policy agenda is needed to target the household, property, and neighborhood differences that are key to housing wealth outcomes, as …
‘Don’t Buy Zillow Homes:’ A Tale of Failure, Mistrust and Hot Housing Markets
Bloomberg, Nov. 3, 2021–Claire Ballentine, Charlie WellsIt has been a tumultuous few days for the real estate company. On Tuesday, the firm announced it would be shutting down its much-vaunted …
Freddie Mac Spurs Landlords to Report On-Time Rent Payments
HousingWire, Nov. 3, 2021–Georgia KromreiFreddie Mac wants to encourage multifamily landlords to report positive rental payments to the credit bureaus to give renters a better shot at qualifying for a …
Proposed GSE Housing Goals for Multifamily Causing Anxiety
Inside Mortgage Finance, Nov. 2, 2021–Dennis HollierThe Federal Housing Finance Agency’s proposed affordable housing goals for Fannie Mae and Freddie Mac from 2022 through 2024 have received almost universal approval …
New York Extends CRA Requirements to Nonbank Mortgage Companies
Banking Dive, Nov. 2, 2021–Robin BradleyNew York Gov. Kathy Hochul signed a bill Monday to expand the New York Community Reinvestment Act to nondepository mortgage lenders. The legislation aims to …
Servicers Prepare for $10B Homeowner Assistance Fund
HousingWire, Nov. 1, 2021–Flávia Furlan NunesRoughly seven months after it was established, the $10 billion federal Homeowner Assistance Fund is expected to begin approving state plans in the coming weeks. …
Earnings Decline for the GSEs in 3Q but Net Worth Keeps Heading North
Inside Mortgage Finance, Oct. 29, 2021–Paul Muolo, Dennis HollierFannie reported net earnings of $4.8 billion for the third quarter, a sequential decline of 32.3% while “little brother” Freddie earned $2.9 …
Mr. Cooper is on the Hunt to Buy More Mortgage Servicing Portfolios
National Mortgage News, Oct. 28, 2021–Brad Finkelstein (subscription)As origination margins continue to compress, some lenders are looking to sell bulk mortgage servicing rights portfolios to make up for the lost …