Top Headlines
Anywhere, Keller Williams and RE/MAX Receive Court OK on Settlement Agreements
The companies noted the settlements are not an admission of wrongdoing or liability. Continue Reading Anywhere, Keller Williams and RE/MAX Receive Court OK on Settlement Agreements
Judge Rejects Bid by Batton 1 Plaintiffs to Block Brokerage Settlements
District Court Judge Andrea R. Wood said the request was “neither necessary nor appropriate.” Continue Reading Judge Rejects Bid by Batton 1 Plaintiffs to Block Brokerage Settlements
Household Debt Reached $17.5 Trillion in Q4 2023
Mortgage balances rose by $112 billion from the previous quarter and stood at $12.25 trillion at the end of December. Continue Reading Household Debt Reached $17.5 Trillion in Q4 2023
John ‘Buz’ Gorman, Longtime General Counsel for the CSBS, Has Died
Gorman started his career at CSBS in 1996 and served as its general counsel for the last 15 years. Continue Reading John ‘Buz’ Gorman, Longtime General Counsel for the CSBS, Has Died
A Phil Hall Op-Ed: Four More Years of Jerome Powell?
Editor Phil Hall considers the Trump and Biden approaches to giving Jerome Powell another four years at the Fed helm. Continue Reading A Phil Hall Op-Ed: Four More Years of Jerome Powell?
Mortgage servicers brace for fallout as Covid bailout comes to an end
Source: CNBC --- The nation’s mortgage servicers are gearing up for the biggest wave of delinquent loans since the subprime mortgage crisis, but this time they say they are ready. The first wave of borrowers to enter the government’s coronavirus mortgage bailout...
Sub-3% mortgage rate streak comes to an end
Source: MPA --- An increase in mortgage rates has ended a 10-week streak of sub-3% rates, Freddie Mac reported Thursday. For the first time since April, the benchmark 30-year fixed-rate mortgage rose above 3%, up nine basis points to 3.02%. Freddie Mac chief economist...
Homepoint unveils new service model for brokers
Source: MPA --- With refinances drying up, brokers are shifting their focus to capturing the booming purchase market. Homepoint – the nation’s third-largest wholesale lender – has launched Homepoint Amplify, a new service model that aims to help brokers do just that....
Fed Officials Debate Scaling Back Mortgage-Bond Purchases at Faster Clip
Source: The Wall Street Journal --- As Federal Reserve officials discuss how to eventually scale back their easy-money policies, they are debating whether to start by reducing purchases of mortgage-backed securities to avoid adding more fuel to the housing boom. The...
The U.S. is the country most vulnerable to a new financial crisis, Nomura warns
Source: Market Watch --- Wouldn’t it be great to know when financial crises are about to happen? That’s the idea behind a new warning model created by Japanese bank Nomura, with the somewhat unfortunate name Cassandra, given the Trojan priestess of Greek mythology was...
US new home sales slump to one-year low; 30-yr fixed refinance rate hover at 3.25%
Source: Financial World --- On Wednesday, US Commerce Department data had revealed that the sales of newly built single-family homes faltered to a one-year low last month, as the median prices of newly constructed houses kept climbing in context of a flaming timber...
Nonbank Lenders Are Dominating the Mortgage Market
Source: The Wall Street Journal --- Americans took out more mortgages than ever before in 2020. Most of them didn’t come from banks. Nonbank mortgage lenders in the U.S. issued 68.1% of all mortgages originated in 2020, up from 58.9% in 2019, according to industry...
What salary you need to buy a Portland-area home, according to estimates
Source:Portland Business Journal --- A Portlander needs to earn $86,833 a year to afford a home in the metro area, a number that increased 7.5% since last year, according data from HSH.com. That puts the city at No. 11 among the most-expensive metro areas in the...
For Many Home Buyers, a 5% Down Payment Isn’t Enough
Source:The Wall Street Journal --- Would-be home buyers without big piles of cash are getting left on the sidelines. In the turbocharged housing market, prices are surging and homes on the market are routinely selling for far more than the listing price. Those who...
Think Like an Accountant
Source: Scotsman Guide --- Commercial mortgage underwriting is usually discussed in terms of asset performance, such as rents, occupancy, expenses, valuations and debt loads. But we can’t forget that traditional lenders, especially banks, also are evaluating the...
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