FEMA: Congress Should Cancel NFIP Debt November 7, 2023 Monica Hogan The National Flood Insurance Program has $20.5 billion in debt, prompting $309 million in semiannual interest payments.Read More
Short Takes: Banks See Weak Demand, Tighten Underwriting / FHA Extends Waiver on Face-to-Face / MFA Takes Loss / HELOC Securitization November 7, 2023 Brandon Ivey Demand for mortgages from banks declined in the third quarter and many banks further tightened underwriting.Read More
Former FHLB Chicago Executive Launches National TPO Lender November 6, 2023 James Dohnert The correspondent lender initially will offer 15- and 30-year jumbo loans, non-qualified mortgages and agency products.Read More
BLS: 6,800 Mortgage Jobs Were Lost in September November 6, 2023 Paul Muolo Almost 30,000 mortgage-banking jobs have evaporated over the past 12 months...Read More
Rocket’s Profits Decline in Third Quarter November 3, 2023 Brandon Ivey Production was essentially level compared with the second quarter and margins improved.Read More
Short Takes: Rocket Looks to AI / Redfin’s Lending Slows / Velocity Increases Production / Great Ajax Considering Options November 3, 2023 Brandon Ivey and James Dohnert “I believe AI will be at the center of how clients buy, sell and finance homes,” said Varun Krishna, the new CEO of Rocket Companies.Read More
MBA: Next Move by Fed Will Be a Rate Cut November 2, 2023 Brandon Ivey The Fed held rates steady Wednesday and the MBA anticipates that the next action will be a cut in 2024.Read More
Industry Participants Ramp Up Training on Appraisal Bias November 2, 2023 Sam Manas The GSEs are collaborating to create appraisal bias training for the appraiser community.Read More
Short Takes: Zillow Boosts Originations / Figure Offers HELOC Tech / Sterling Bank and Trust Turns to Rocket / CHLA Seeks Streamlined Exams by States November 2, 2023 Brandon Ivey Zillow's production increased 35% from the second quarter.Read More
Mortgage-Banking Income at Banks Increases November 1, 2023 John Bancroft Among a group of 26 banks, mortgage banking income increased by 9.9% in the third quarter.Read More
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