Interplay between debt ceiling and mortgage interest rates; mortgage employment declines; rate locks down; Rithm considers spin-off; Planet Financial looking for lenders; new LO recruiting software; Blend’s market share grows; Black Knight’s margins; new appraisal marketplace; MISMO requests for comment.
The pipeline for commercial MBS issuance is starting to fill up after a slowdown tied to volatility from the regional bank failures. Longer term, higher interest rates are a concern for loans in outstanding CMBS.
The government could default on its debt obligations as early as June 1, the Treasury Department warned. The development could have major ramifications for mortgage lenders and the broader economy.
Three regional banks failed recently due partly to interest-rate risk. To avoid the same fate, mortgage companies of all stripes are being pushed to give up some profits to manage interest-rate risk.
The Center for Responsible Lending and the American Enterprise Institute want FHA and VA to implement measures to discourage harmful cash-out refinancings.
Rising interest rates and fickle demand in the secondary market made it difficult to originate non-QMs in 2022. The hope among industry participants is that volatility will recede.