Rep. Patrick McHenry (R-NC), who is likely to chair the House Financial Services Committee if Republicans win control of the House, is a frequent critic of the Consumer Financial Protection Bureau.
Not a total surprise, but the central bank hiked short-term rates by 75 basis points this week. Mortgage rates hardly budged but residential finance professionals are worried about the quarters ahead. Meanwhile, more lenders are heading for the exits.
The Federal Housing Finance Agency will eliminate certain upfront loan-level price adjustments while implementing “targeted” increases for most cash-out refinance transactions. The agency also approved two new credit scoring models for Fannie and Freddie.
With all the layoffs this year, it stands to reason that finding loan officer talent would be an easy task. But that’s not necessarily the case. Overall, the LO landscape remains competitive.
As bad as originations were this year, 2023 is projected to be worse. Purchase-mortgage business is expected to decline even as mortgage rates come down and home prices level off.
Mr. Cooper posted a respectable profit for the third quarter, but challenges remain. Behind the scenes, this top-10-ranked shop has been both buying and selling bulk mortgage servicing rights.
Industry trade groups want Ginnie Mae to continue making changes to its risk-based capital requirements for nonbank issuers during the extended implementation period.
In a few weeks, the nation’s nonbanks will begin disclosing third-quarter results. Based on what depositories have been reporting so far, the nonbanks had a trying time of it in the origination market. Surprised?
Where are home prices going? Is a recession going to lead to higher delinquencies? Mortgage industry participants are having a hard time answering these questions.
RSS