GlobeSt.com, July 21, 2023–Jack RogersThe lenders for a 20-story office tower in San Francisco owned by an affiliate of co-working space provider WeWork and Rhone Group are suing to foreclose …
Category: Top National News
Mortgage-Refinance Demand Recovers Some After Rates Come Off Recent Highs
CNBC, July 19, 2023-Diana OlickMortgage interest rates pulled back last week after jumping sharply to start July. That lit a fire under refinance demand but did little to help potential …
New Capital Rules May Increase Risk Weighting for Servicing: BTIG
National Mortgage News, July 19, 2023–Bonnie Sinnock (subscription)The pending reform of depository capital rules has the potential for making it even tougher for banks to hold mortgage servicing rights, according …
Freedom Mortgage Alleges That Subservicer’s Errors Cost it Over $30M
National Mortgage News, July 19, 2023–Maria Volkova (subscription)A lawsuit that Freedom Mortgage filed against LoanCare more than half a decade ago is finally getting its day in a New Jersey …
CFPB Argues Intent, Not Language, Should Determine TILA Policy
National Mortgage News, July 18, 2023 Spencer Lee (subscription)The Consumer Financial Protection Bureau filed a joint amicus brief with the state of Maine last week in a case that has …
Short-Term Mortgage Delinquencies Rose After the First Quarter: FHFA
National Mortgage News, July 17, 2023–Bonnie Sinnock (subscription)The near-term performance of mortgages backed by government-sponsored enterprises wavered a little as the second quarter got underway but loss mitigation stopped some …
The Housing Market Recession is Already Ending
Washington Post, July 17, 2023–Rachel Siegel (subscription)Last year’s downturn in the housing market didn’t last, even with higher interest rates. Now prices are stabilizing as supply chains ease up.https://www.washingtonpost.com/business/2023/07/17/housing-market-recession/
Struggling Borrowers Seek Help Through Self-Service Tech: Report
National Mortgage News, July 14, 2023–Spencer Lee (subscription)Both servicers and mortgage borrowers under duress from natural disasters or other unexpected events are seeing benefits from self-service tools, according to new …
US Consumers are Feeling the Most Optimistic Since September 2021
CNN, July 14, 2023–Bryan MenaInflation’s steady slowdown in recent months has kept Americans feeling optimistic about the future.https://www.cnn.com/2023/07/14/economy/consumer-sentiment-july-pre/index.html
Florida Insurance Crisis Sparks Fears for Housing Market
Newsweek, July 14, 2023–Anna SkinnerFarmers Insurance’s recent announcement that it would discontinue new coverage in Florida has fueled concerns from real estate experts that the end may be near for …