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Lending (1507)

RocketPro's Niemiec: UWM Trying to 'Destroy' Broker Model

RocketPro's Niemiec: UWM Trying to 'Destroy' Broker Model

Tuesday, 04 October 2022
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Austin Niemiec, Executive Vice President at RocketPro TPO, says United Wholesale Mortgage is trying to destroy the broker model it claims to support. He also asserts that UWM is trying to upend the free-market system as it relates to mortgage brokers, eliminating much of the value mortgage brokers bring to their home buying clients.  Read more...
Hurricane Ian Wind, Storm Surge Losses in Florida Expected to Be $28B to $47B: CoreLogic

Hurricane Ian Wind, Storm Surge Losses in Florida Expected to Be $28B to $47B: CoreLogic

Saturday, 01 October 2022
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Wind losses for residential and commercial properties in Florida are expected to be between $22 billion and $32 billion, while insured storm surge losses in the state are expected to be an additional $6 billion to $15 billion, according to an estimate from CoreLogic. Read more...
Mortgage Rates Rise to 15-Year High

Mortgage Rates Rise to 15-Year High

Saturday, 01 October 2022
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U.S. long-term mortgage rates have risen for a six consecutive week, to levels unreached since before the Great Recession. So reports The Guardian. Read more...
Mortgage Demand Drops as Refinances Fall to 22-Year Low

Mortgage Demand Drops as Refinances Fall to 22-Year Low

Friday, 30 September 2022
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A measure of mortgage demand has continued to sink amid rising interest rates and growing questions about the housing market. So reports CNBC. Read more...
Wells Fargo Lays Off 36 More Workers Amid Mortgage Slowdown

Wells Fargo Lays Off 36 More Workers Amid Mortgage Slowdown

Friday, 30 September 2022
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Wells Fargo has revealed another round of job cuts in its Des Moines, Iowa, offices, where its flagging home mortgage division is based. So report the Des Moines Register and KCCI. Read more...
Fannie Mae Hires JPMorgan Alum Priscilla Almodovar as CEO

Fannie Mae Hires JPMorgan Alum Priscilla Almodovar as CEO

Friday, 30 September 2022
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Fannie Mae has named Priscilla Almodovar, a former managing director at JPMorgan, as its new CEO. So reports Affordable Housing Finance. Read more...
Bodnar of MMG: What Does Bond Yields' Big Dip Mean Going Forward?

Bodnar of MMG: What Does Bond Yields' Big Dip Mean Going Forward?

Friday, 30 September 2022
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"This week, we witnessed the largest one-day decline in bond yields in 14 years," says Bill Bodnar of the Mortgage Market Guide (MMG). "What does this mean going forward?" Read more...
Mortgage Delinquencies Near Record Low, Foreclosure Starts Jump

Mortgage Delinquencies Near Record Low, Foreclosure Starts Jump

Friday, 23 September 2022
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Black Knight says new data indicates that mortgage delinquencies hit a near record low in August, while foreclosure starts rose by 15% from July. However, they’re still more than 40% below pre-pandemic levels. Read more...
Fed Says It Won’t Sell Mortgage-Backed Securities Just Yet

Fed Says It Won’t Sell Mortgage-Backed Securities Just Yet

Friday, 23 September 2022
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Federal Reserve chairman Jerome Powell said that selling the central bank’s $2.7 trillion in mortgage bond holdings is “not something we are considering right now.” So reports Bloomberg. Read more...
CFPB Eyes Making COVID-era Mortgage Protections Permanent

CFPB Eyes Making COVID-era Mortgage Protections Permanent

Friday, 23 September 2022
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The Consumer Financial Protection Bureau has asked for public input as it considers whether to potentially bring back pandemic-era automatic refinancing and forbearance measures for the long haul. So reports Bloomberg. Read more...

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