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 …
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. …
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 …
Even Mixed Use Is Turning Up in Special Servicing
GlobeSt.com, June 12, 2023–Erik ShermanAs the hailstones of higher interest rates, banking weakness and unease and uncertainty about work-from-home and hybrid models rapidly fall, many in CRE thought they had …
Is the Global Housing Slump Over?
The Economist, June 12, 2023 (subscription)Rising interest rates have not yet triggered property pandemoniumhttps://www.economist.com/finance-and-economics/2023/06/12/is-the-global-housing-slump-over
Bank of America Faces Lawsuit Alleging it Charged Servicing Junk Fees
National Mortgage News, June 12, 2023–Spencer Lee (subscription)Bank of America is at the center of a new class-action lawsuit, which claims it unlawfully charged fees to mortgage servicing customers paying …
The Housing Scene: Pay Cash or Extend the Loan Term?
Banker & Tradesman Jun 8, 2023–Lew SichelmanCash is always king. But if that’s not an option, is a 40-year mortgage a good way for homebuyers to jump over the affordability …
Delinquent Office Loans at Five-Year High Trouble Commercial Mortgage Bond Market
Bloomberg, June 8, 2023-Carmen Arroyo and Scott Carpenter (subscription)Near-empty office buildings, already a problem plaguing U.S. cities, are becoming a worry for mortgage bondholders as landlords fall behind on repayments …