The Mortgage Bankers Association and the Community Home Lenders of America are on opposite sides of the debate about allowing the GSEs to waive the requirement for lender’s title insurance.
Waiting for the Federal Reserve to cut interest rates is a bit like waiting for Godot. It seems as though a cut in rates may never come. Still, there is some improvement in volumes and margins in the non-QM sector.
A dip in United Wholesale Mortgage stock last week, driven by a report from a hedge fund that shorted the nonbank, has raised awareness on the number of mortgage companies that are being shorted.
These are trying times for most home lenders, thanks to a weak origination market. What to do? Keep trimming staff or tough it out? Meanwhile, some experts believe executives should start cutting their own pay.
In granting the injunction decree, the court noted that there’s a “substantial likelihood” the trade associations will ultimately succeed in their challenge against the CRA overhaul.
The MBA has called on federal agencies to ensure there is no disruption in the mortgage process stemming from the National Association of Realtors’ decision to settle a lawsuit related to agent commission practices.
Hunterbrook Capital is going after United Wholesale Mortgage, lobbing allegations and shorting stock in the nonbank; Michael Barr, vice chair for supervision at the Fed doesn’t find the rhetoric regarding bank capital requirements particularly useful; Ocwen plans to rebrand as Onity.
The Urban Institute, with funding from the National Fair Housing Alliance, has developed resources lenders can use to launch special purpose credit programs.
Originations of home equity loans declined in the fourth quarter as interest rates increased. Though HELOCs still dominate home equity production, closed-end second liens gained share in 2023. (Includes three data tables.)
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