Wall Street Journal, Aug. 4, 2023-Telis Demos (subscription)It has been a tough year for the mortgage business. But some lenders are finding a home with investors.https://www.wsj.com/livecoverage/stock-market-today-jobs-report-08-04-2023/card/rocket-expands-beyond-refis-with-help-from-1-down-payment-mortgages-bU06j9Hi6PszSMenE7wD?
Category: Top National News
Housing ‘Extras’ Add Up
Banker & Tradesman, Aug. 6, 2023–Lew SichelmanHomebuyers who focus solely on the cost of their mortgage’s interest and principal are doing themselves a disservice. There are other recurring costs that …
Why Warehouse Rents Keep Going Up While Demand Is Dropping
Wall Street Journal, Aug. 2, 2023-Liz Young (subscription)Warehouse rental prices across the U.S. have never been as high as they were in the second quarter, when the average asking rent …
Multifamily Insurance Rates Are Up as Much as 28%
GlobeSt.com, Aug. 07, 2023–Erik ShermanHigher financing costs are not the only fiscal strain on CRE in general and multifamily specifically. Operating expenses have risen sharply and are unlikely to recede …
A Real-Estate Haven Turns Perilous With Roughly $1 Trillion Coming Due
The Wall Street Journal, Aug. 7, 2023-Konrad Putzier and Will Parker (subscription)Apartment buildings, long considered a real-estate haven, are emerging as the next major trouble spot in the beleaguered commercial-property …
Acquisition of Home Point Mortgage Lender by Mr. Cooper Completed
Crain’s Detroit Business, Aug. 1, 2023-Nick Manes (subscription)Southeast Michigan is officially down one mortgage lender.https://www.crainsdetroit.com/banking-finance/home-point-mortgage-lender-acquisition-mr-cooper-complete
U.S. Consumer Confidence Jumps to Two-Year High as Inflation Eases
Associated Press, July 25, 2023–Paul WisemanU.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased and the American economy continued to show resilience …
What Fed Hikes? Much of America’s Consumer Debt Is Still Riding Ultralow Interest Rates
Wall Street Journal, July 27, 2023-Rachel Louise Ensign (subscription)In the depths of the pandemic, Alex and Cynthia Durbin refinanced their mortgage at 2.75%. They built up their savings by spending less, then …
FHA’s Face-to-Face Servicing Requirement Could Be Dropped
Inside Mortgage Finance, July 31, 2023–Monica Hogan (subscription)HUD noted that over the years many lenders have moved away from a model of local origination and servicing offices to more centralized …
PennyMac Profitable in 2Q Despite Servicing Rights Hit
National Mortgage News, July 28, 2023–Brad Finkelstein (subscription)PennyMac Financial Services has room to grow in both the correspondent and wholesale channels, even as both of those reported higher production on …