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 …
Category: Top National News
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 …
FDIC Starts Selling $114 Billion of Bonds From Failed Banks
Wall Street Journal, Apr. 19, 2023–Matt Wirz (subscription)The Federal Deposit Insurance Corp. has begun selling bonds it inherited from Silicon Valley Bank and Signature Bank to recoup the cost of …
California Pension Fund Writing Down $52B CRE Portfolio
GlobeSt.com, Apr. 19, 2023–Jack RogersThe $306-billion California State Teachers’ Retirement System pension fund, known as Calstrs, bet big on real estate and now plans to trim 20% off office valuations.https://www.globest.com/2023/04/19/california-pension-fund-writing-down-52b-cre-portfolio/?
Mortgage Performance Improves as COVID-19 Emergency Ends
Mortgage Professional America, Apr. 18, 2023–Candyd MendozaMortgage performance remained strong, with the overall forbearance rate dropping five basis points in March, according to the Mortgage Bankers Association.https://www.mpamag.com/us/mortgage-industry/market-updates/mortgage-performance-improves-as-covid-19-national-emergency-ends/443058
Mortgage Complaints to CFPB Up Sharply in Early 2023
Inside Mortgage Finance, Apr. 18, 2023–Andras MalatinszkyComplaints submitted to the Consumer Financial Protection Bureau regarding mortgages reversed course in the first quarter, according to a new ranking and analysis by …
Real Estate Wire Fraud Attempts are on the Rise
National Mortgage News, Apr. 18, 2023–Brad Finkelstein (subscription)Nearly three-quarters of the 2022 requests for help from wire fraud protection company CertifID came from consumers, primarily resulting from real estate-related scams.https://www.nationalmortgagenews.com/news/real-estate-wire-fraud-attempts-are-on-the-rise
Biggest US Banks Wrote Off $3.4 Billion in Bad Consumer Loans
Bloomberg, Apr. 18, 2023–Jennifer SuraneThe four biggest US lenders wrote off a combined $3.4 billion in bad consumer loans in the first three months of 2023, a 73% increase from …
Are Federal Home Loan Bank Advances a Sign of Distress?
American Banker, Apr. 17, 2023–Kate Berry (subscription)The Federal Home Loan Bank System has played an outsized role in shoring up the balance sheets of hundreds of banks this year, including …