Mortgage Industry News
A collection of Mortgage latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
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Ambac faces key hearing ahead of $1 bln Countrywide mortgage-backed securities trial
Ambac's opposition to the motion (Reuters) - No, you didn't misread that headline: After 12 years of litigation, the insurer Ambac Assurance Corp is scheduled for a bench trial in September in Manhattan state court to prove its claims that…
IMF suggests mortgage lending restrictions could be eased
Should LVR restrictions be loosened? Photo / Fiona Goodall The International Monetary Fund (IMF) suggests the Reserve Bank of New Zealand (RBNZ) considers relaxing bank mortgage lending restrictions as the housing market cools. The organisation, in…
Inside Wells Fargo's town hall to explain mortgage layoffs
In April, Wells Fargo laid off mortgage staff across large markets like Phoenix and San Antonio. In a recent town hall, the bank's head of home lending, Kristy Williams Fercho, addressed the cuts. The town hall included a discussion of CEO Charlie…
Tomo provides mortgages in 9 states, adds Georgia, North Carolina
Tomo, the mortgage fintech launched last year with a focus on homebuyers, is now doing business in more than a third of U.S. markets with the addition of Georgia and North Carolina, it says. Founded in October 2020 by former Zillow executives Greg…
Ixonia Bank opening mortgage office in Brookfield
Stay up-to-date with our free email newsletter Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area. By subscribing you agree to our privacy policy. Ixonia Bank plans to expand its metro Milwaukee…
Don't buy call for mortgage stress test to be relaxed
Mortgage stress test may get tweak before 2023, May 13 The rationale for the mortgage stress test is as relevant today as it was when it was instituted: The purpose was to make sure that homebuyers did not take on more debt than they could afford…
ARMs helped cause housing crash, but today's have stricter standards
Adjustable-rate mortgages are surging in popularity despite their role in the 2008 housing crash. But their re-emergence is no cause to worry as lending standards have since tightened. Experts say the mortgage industry is in a safer space today for…
Mortgage Loans Suffer 'Largest Fall' in Russia's History - RBC
Mortgage loans in Russia fell by their largest margin ever in April despite government measures to avert the economic fallout from war-related Western sanctions, the RBC news website reported Tuesday. Russian banks approved 37,200 mortgage loans…
Another month, another record for home prices in the Boston area - The Boston Globe
The region's housing market continued its stratospheric spring, with prices reaching new records in April. But there's a growing sense that the peak may be near. The median price for a single-family home in Greater Boston climbed 11.2 percent last…
Opinion | The Government Gave Out Bad Loans. Students Deserve a Bailout.
At least 43 million Americans have student loan debt, ranging from hundreds to hundreds of thousands of dollars. Until now, there's been no hope of a bailout. Just as some argued that the subprime mortgage crisis was a matter of millions of people…
Home Depot's strong quarter shows housing market is still booming
New York(CNN Business) Home Depot has a message for all of the economic naysayers: Hold my plywood. The home improvement retail giant reported better-than-expected gains in sales and earnings for the first quarter Tuesday and also lifted its…
Today's mortgage and refinance rates: May 17, 2022 | Rates may be moderating slightly
After months of rapid increases, mortgage rates appear to be moderating a bit. Today, they're a little lower than they were a week ago. While rates aren't likely to drop significantly in the near future, it's less clear if they're done rising. In…
Today's Mortgage Rates, May 17, 2022 | Rates Take a Dip | NextAdvisor with TIME
A few benchmark mortgage rates slumped today. The averages for both 30-year fixed and 15-year fixed mortgages were slashed. For variable rates, the 5/1 adjustable-rate mortgage (ARM) increased. As the latest inflation data for April suggest…
Triad housing market has slight uptick in mortgage delinquencies in first quarter
There was a slight rise in Winston-Salem-area homeowners considered as seriously behind on their mortgage payments during the first quarter, according to a report released by national real-estate research firm Attom Data Solutions. A mortgage is…
Outlook for 2023 and beyond lowered by Mortgage Bankers Association
Mortgage bankers only made 5 basis points on each loan originated in the fourth quarter, preliminary data from the Mortgage Bankers Association showed, as the cost to produce reached an all-time high. The situation is 'very, very challenging and…
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