"Now having been in the mortgage industry for over 30 years, HUD’s mortgagee letter is perhaps one of the most egregious and ill-advised actions that I have seen taken by a government agency in many years," said Anne Canfield, a partner at Michael Best Strategies.
The 2017 Tax Cuts and Jobs Act appears to have contributed to a slowing housing market last year, industry analysts say. However, tax reform could help boost the housing market going forward.
The Lake promotion comes about two weeks after JPM Chairman and CEO Jamie Dimon in a letter to shareholders said the megabank is considering significant changes in its home lending operations...
The negative factors include higher rates, lower originations, and rising expenses, resulting in the lowest net production income per loan reading since 2008...