National Mortgage News, June 9, 2023–Bonnie Sinnock (subscription)Distressed mortgage indicators tracked by Attom registered increased activity last month, resuming a slow climb back toward levels seen prior to the pandemic.https://www.nationalmortgagenews.com/news/foreclosure-activity-jumped-in-may?
Category: Top National News
Jumbo Sector Takes a Hit in First Quarter
Inside Mortgage Finance, June 9, 2023–John Bancroft (subscription)Jumbo lending held up relatively well in 2022 as interest rates increased. That trend ended in the first quarter of 2023.https://www.insidemortgagefinance.com/articles/228059-jumbo-sector-takes-a-hit-in-first-quarter?
MBA: Mortgage Rates To Fall As Spread Shrinks
Mortgage Professional America, June 9, 2023–Lew SichelmanEconomists tell real estate editors to expect some improvement in the housing market in 2024. The Mortgage Bankers Association expects loan rates to average …
Proposition 19’s Death Tax Needs to Die, Readers Say
Orange County Register, June 9, 2023–Jeff LazersonThe “death tax” in Prop. 19, effective Feb. 16, 2021, has ignited a firestorm among property owners. Property rentals and second homes under the …
Republican Governors Urge Biden to Rescind New Mortgage Rule
Route Fifty, June 1, 2023-Molly BolanA group of Republican governors is urging the Biden administration to rescind changes it made last month to mortgage fees for federally backed loans. The …
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 …
Biden Signs Debt Ceiling Bill That Pulls U.S. Back From Brink of Unprecedented Default
CBS MoneyWatch, June 3, 2023With just two days to spare, President Joe Biden signed legislation on Saturday that lifts the nation’s debt ceiling, averting an unprecedented default on the federal …
The Multifamily Sector Faces Impending Debt Maturities
The Registry, June 1, 2023With the current focus primarily on office property loans, it is important not to overlook the mounting debt maturity within the multifamily sector in the coming …
FHA Releases Draft of New Foreclosure Prevention Option
National Mortgage News, June 1, 2023–Bonnie Sinnock (subscription)The Federal Housing Administration has introduced a new loss-mitigation concept to add to the set of temporary innovations that have emerged from the …
Rising Rates Make It Harder to Help Distressed Homeowners; Regulators Are Trying to Fix That
Wall Street Journal, May 31, 2023-Ben Eisen (subscription)Rising interest rates are putting up new roadblocks for people struggling to pay their mortgages. Housing officials are working on a fix.https://www.wsj.com/articles/rising-rates-make-it-harder-to-help-distressed-homeowners-regulators-are-trying-to-fix-that-813a8cd9