National Mortgage News, Apr. 17, 2023–Bonnie Sinnock (subscription)Wells Fargo successfully marketed a $50 billion portfolio of rights from loans it serviced for others in the first quarter. That deal, combined …
Category: Top National News
Judge Allows Refi Lawsuit Vs. Rocket Mortgage To Move Ahead
National Mortgage Professional, Apr. 17, 2023–David KrechevskyThe lawsuit was filed in October 2022 by two couples who own a property in North Carolina. They claim Rocket fraudulently rejected their application …
Surprise: RMBS Issuance Stages a First Quarter Rally
Inside Mortgage Finance, Apr. 17, 2023–John BancroftIssuance of non-agency MBS staged a huge rebound in early 2023 on the heels of one of the sector’s weakest performances in recent times, …
Supreme Court Decision A Blow To FTC, SEC
National Mortgage Professional, Apr. 14, 2023–David KrechevskyThe U.S. Supreme Court issued an opinion Friday that will allow businesses to sue the Federal Trade Commission and the Securities and Exchange Commission …
GSEs Show Risk Aversion in 1Q Activity
Inside Mortgage Finance, Apr. 14, 2023–Namrata BhatiaThe government-sponsored enterprises purchased a relatively smaller proportion of home loans with lower credit scores in early 2023.https://www.insidemortgagefinance.com/articles/227541-gses-show-risk-aversion-in-1q-activity?v=preview
Millennials Became Homeowners Later than their Parents and Grandparents. Here’s Why
The Hill, Apr. 13, 2023–Adam Barnes“There was a long-standing belief that millennials never wanted to own and were perfectly content renting. That belief has proven to be false. The reality …
Shadow Lenders to Bridge Real Estate Void Left by Banks, Bonds
Bloomberg, Apr. 13, 2023–Carmen Arroyo, John SageCarlyle, Castlelake, King Street, HighVista, Palladius eye CRE; CMBS is down 82% as regional banks pull back from lending; Traditional banks and the bond …
Fannie Mae Servicing Shrinks in 1Q
Inside Mortgage Finance, Apr. 13, 2023–John BancroftThe supply of single-family agency servicing grew again in the first quarter of 2023 — but at its slowest pace in several years.https://www.insidemortgagefinance.com/articles/227525-fannie-mae-servicing-shrinks-in-1q?v=preview
1 Big Thing: Unpacking the Commercial Real Estate Problem
Axios, Apr. 12, 2023–Emily Peck, Matt PhillipsUnder the hood, the situation is more nuanced, as detailed in two reports from the Mortgage Bankers Association and Moody’s Analytics.https://www.axios.com/newsletters/axios-markets-9b83697b-1f47-4ada-87a6-3561a2519a13.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosmarkets&stream=business
FDIC Official Says Agency Was Slow to Sell Failed SVB
Wall Street Journal, Apr. 12, 2023–Andrew Ackerman (subscription)A top Federal Deposit Insurance Corp. official said the agency could have moved more quickly to find a buyer for Silicon Valley Bank …