CNBC, June 14, 2023-Diana OlickMortgage rates pulled back for the second straight week last week, and it was enough to get both current and potential homeowners on the phone with …
Category: Top National News
The Non-QM Product Gaining Steam in a Low-Volume Market
American Banker, June 14, 2023–Andrew Martinez (subscription)Some lenders in search of business during the mortgage market’s holding pattern are turning attention to a niche product with millions of prospective borrowers. …
CFPB Commits to Streamlining Servicing Rules
National Mortgage News, June 16, 2023–Bonnie Sinnock (subscription)Some of the consumer protection regulations that govern how mortgage companies offer borrowers home-retention options will be simplified in line with responses to …
Will Homeowners’ Insurance Crisis Upend Home Sales in California?
Orange County Register, June 16, 2023–Jeff LazersonEvery buyer should be asking the seller for an insurance pre-approval or pre-qualification letter.https://www.ocregister.com/2023/06/15/will-homeowners-insurance-crisis-upend-home-sales-in-california/
Real Estate-Related Email Fraud Costs Record Dollar Losses
National Mortgage News, June 15, 2023–Brad Finkelstein (subscription)Business email compromise scams related to real estate set a record for dollar losses in 2022, as the number of cases reported to …
20 Banks With the Most Subservicing in Q1
National Mortgage News, June 15, 2023 (Complimentary Access)The top five residential servicers in this list have a combined unpaid principal balance of more than $1.8 trillion at the end of …
The Non-QM Product Gaining Steam in a Low-Volume Market
American Banker, June 14, 2023–Andrew Martinez (subscription)Some lenders in search of business during the mortgage market’s holding pattern are turning attention to a niche product with millions of prospective borrowers. …
Interest-Only Loans Helped Commercial Property Boom. Now They’re Coming Due
Wall Street Journal, June 6, 2023- Konrad Putzier (subscription)Nearly $1.5 trillion in commercial mortgages are coming due over the next three years, according to data provider Trepp. Many of the …
Uncle Sam Trashes Garbage Fees
National Mortgage Professional, June 6, 2023–Lew SichelmanUncle Sam is going hard after what it deems to be unconscionable, if not illegal, junk fees, particularly in the servicing and rental sectors.https://nationalmortgageprofessional.com/news/uncle-sam-trashes-garbage-fees
Prepayment Speeds Were Up 22% in May on Seasonality
National Mortgage News, June 7, 2023-Brad Finkelstein (subscription)Mortgage-backed securities prepayment speeds increased 22% month-to-month in May, but that was largely due to seasonality related to traditional spring buying activity, a …