Inside Mortgage Finance, Mar. 24, 2023–John BancroftCrumbling securities values — courtesy of higher interest rates — have whacked most categories of bank investment in structured financing, but bank holdings of …
Category: Top National News
How Bank Oversight Failed: The Economy Changed, Regulators Didn’t
Wall Street Journal, Mar. 24, 2023–Andrew Ackerman, Angel Au-Yeung, Hannah Miao (subscription)Overseers paid insufficient heed to risks of falling bond values and fleeing deposits. Social media and selling by smartphone …
National Mortgage Balances Increased by $1 Trillion in 2022
First Tuesday Journal, Mar. 24, 2023–Amy PerryIf totals impress you, U.S. mortgage balances stood at $11.92 trillion at the end of December 2022, according to the New York Federal Reserve. …
Homebuyers Who Want a Low Rate Can Assume the Sellers’ FHA Mortgage
Orange County Register, Mar. 23, 2023–Jeff LazersonFHA mortgages have always been assumable to qualified buyers. But why take on an assumable FHA mortgage if a new mortgage is cheaper, and …
Second-Lien Lending Peaked in 3Q22 but Had Strong Full-Year Showing
Inside Mortgage Finance, Mar. 23, 2023–Originations of home-equity loans jumped a phenomenal 49.1% in 2022, but the market peaked in the third quarter and ended with a quarterly decline in …
Warehouse Lenders Facing Fallout from Industry Woes
HousingWire, Mar. 23, 2023–Bill ConroyThe ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third …
U.S. 2nd Circuit Appeals Court Rules CFPB Constitutional
National Mortgage Professional, Mar. 23, 2023–David KrechevskyIn a ruling issued Thursday, a three-judge panel of the U.S. Court of Appeals for the Second Circuit ruled that the Consumer Financial Protection …
FHFA Sets Timeline for Credit Score and Reporting Updates
National Mortgage News, Mar. 23, 2023–Bonnie Sinnock (subscription)The Federal Housing Finance Agency released some future milestone dates for a process that would update consumer credit measures used in mortgage underwriting, …
US House Financial Services Chair: Too Early to Tell if New Laws Needed After Bank Failures
Reuters, Mar. 22, 2023–Kanishka SinghHouse of Representatives Financial Services Committee Chairman Patrick McHenry said on Wednesday it was too early to tell if new legislation is necessary after the recent …
Elizabeth Warren, Rick Scott Want a New Watchdog Post at the Fed After SVB
Bloomberg, Mar. 22, 2023–Jonelle MarteTwo senior US lawmakers are proposing bipartisan legislation to set up a new Senate-approved watchdog post at the Federal Reserve in the wake of the dramatic …