Inside Mortgage Finance, Apr. 21, 2023–Dennis HollierGovernment-sponsored enterprise mortgage-backed security issuance declined by 20.5% in the first quarter of 2023 compared with the previous quarter, according to a new ranking …
Category: Top National News
Buying Down Your Mortgage Rate: It’s Not Just One Way or the Other
Washington Post, Apr. 21, 2023–Michele Lerner“Buy-downs,” which reduce mortgage interest in exchange for upfront fees, quickly became popular for buyers, especially when sellers were willing to pay the upfront fees …
US Watchdogs Propose Tighter Oversight of Nonbanks Posing Systemic Risk
Bloomberg, Apr. 21, 2023–Viktoria Dendrinou, Allyson VersprilleThe top US financial regulators proposed strengthening tools for addressing threats to financial stability, including changes to Trump-era guidance that had made it difficult …
Fannie Mae: Economic Slowdown Resumes, Modest Means Modest
National Mortgage Professional, Apr. 21, 2023–Ryan KingsleyDoubling down on March’s revised forecast for stronger first-quarter GDP growth, the latest projections by Fannie Mae’s Economic and Strategic Research group indicate an …
U.S. Bancorp May Sell Off Parts of Its Servicing Portfolio
National Mortgage News, Apr. 21, 2023–Bonnie Sinnock (subscription)U.S. Bank’s corporate parent is contemplating shedding some servicing as the company weighs strategies that would help improve its capital position.https://www.nationalmortgagenews.com/news/u-s-bancorp-may-sell-off-parts-of-its-servicing-portfolio
Recession Already Here for Many Americans, as Buying Power, Social Net Shrinks
The Hill, Apr. 20, 2023–Aris FolleyThe stock market may be closely watching the chance of an official economic recession, but many Americans across the country are already feeling the squeeze …
Slight Increase in Share for Private MIs in First Quarter
Inside Mortgage Finance, Apr. 20, 2023–Namrata BhatiaThe share of purchase mortgages with private MI increased slightly in the first quarter of 2023, according to a new analysis by Inside Mortgage …
MBA’s Biggest Legislative Priorities This Year
National Mortgage News, Apr. 19, 2023–Maria Volkova (subscription)In recent months, MBA has worked in tandem with other stakeholders in the mortgage industry to push forward administrative changes at a number …
Half of Millennials Own Homes. The Rest Fear They Never Will
Bloomberg, Apr. 19, 2023–Alice KantorFor the first time, more than half of millennials own a home. The rest are finding it increasingly out of reach. The millennial homeownership rate hit …
Middle-Income Homeowners Gained $122K in Wealth over the Past Decade
WRE News.com, Apr. 18, 2023–Phil HallMiddle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% over the last 10 years, according to new data from the National Association …