Inside Mortgage Finance, Mar. 27, 2023–Monica HoganResidential lenders funded $29.7 billion of FHA-backed home-equity conversion mortgages in 2022, a year-over-year improvement of 24.6%, according to a new analysis from Inside …
Category: Top National News
Buy-or-Rent Premium Is Highest Since 2006 Housing Bubble
Bloomberg, Mar. 24, 2023–Paulina CacheroWith real estate prices still elevated and borrowing costs high, paying the monthly mortgage outpaces rent more than it has since before the financial crisis.https://www.bloomberg.com/news/articles/2023-03-24/should-i-buy-a-home-mortgage-premium-vs-renting-is-highest-since-2006?srnd=premium#xj4y7vzkg
Despite Deteriorating Values, Banks Boosted MBS/ABS Holdings in 4Q22
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 …
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, …