Politico, June 5, 2023–Katy O’DonnellAs the federal government strives to contain financial market turmoil, the next risk looming over the nation’s banks is in plain sight: the $20 trillion commercial …
Category: Top National News
Feds Seek Input on Updating AVM Quality Control Standards
WRENews, June 2, 2023–Phil HallSix federal regulatory agencies have jointly requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in real estate …
Why is There Controversy Over Mortgage Fees?
Scripps News, June 5, 2023–Lauren Magarino, Emily SenIn January, the Federal Housing Finance Agency announced a change in the pricing models for new government-backed mortgages. That change went into effect …
Zombie Mortgages Could Force Some Homeowners Into Foreclosure
Wall Street Journal, June 4, 2023–Nicole Friedman (subscription)Homeowners say they are getting bills and foreclosure threats on second mortgages they thought were taken care of long ago.https://www.wsj.com/articles/zombie-mortgages-could-force-some-homeowners-into-foreclosure-e615ab2a?
Purchase-Mortgage Share Hits 85% in First Quarter
Inside Mortgage Finance, June 2, 2023–John Bancroft (subscription)Refinance originations fell to exceptionally low levels in the first quarter of 2023, helping to increase the purchase-mortgage share of the market, according …
Prop 19’s Property Tax Transfer a ‘Godsend’ for Southern California Seniors
Orange County (Calif.) Register, June 2, 2023–Jeff LazersonThousands of older homeowners in Southern California have sold their primary home and relocated their Prop. 13 tax savings to another property under …
Servicing the Biggest Benefit for Ellington in Arlington Buy
National Mortgage News, May 30, 2023–Brad Finkelstein (subscription)Ellington Financial, in a bid to increase its mortgage servicing portfolio, agreed to buy Arlington Asset Investment in a stock and cash deal …
Correspondent Channel Gains Share Even with Wells’ Exit
Inside Mortgage Finance, May 26, 2023–John Bancroft (subscription)The correspondent channel gained market share in the first quarter of 2023, according to a new ranking and analysis by Inside Mortgage Finance.https://www.insidemortgagefinance.com/articles/227941-correspondent-channel-gains-share-even-with-wells-exit?
Office Landlords Squeezed by Falling Occupancy Rates, Refinancing Difficulties. Here’s Why
Associated Press, May 25, 2023-Alex Veiga The failure of several large lenders earlier this year and the banking turmoil that followed have fueled worries for owners of office space such …
Colonial Savings to Drop Originations, Refocus on Servicing, Banking
National Mortgage News, May 26, 2023–Bonnie Sinnock (subscription)Colonial Savings announced Thursday that it will cease originating mortgages and focus instead on its servicing and banking businesses.https://www.nationalmortgagenews.com/news/colonial-savings-to-drop-originations-refocus-on-servicing-banking