The rising homeowner insurance crisis could make getting affordable coverage or getting coverage at all difficult in some parts of the country and, by extension, make properties in those areas unmortgageable.
The lending affiliate of the Onity Group paused its non-agency operations in Maryland as a new state regulation requires all parties involved in the mortgage lending process to be a licensed mortgage lender.
Lenders are facing a tough market for originations, helping to prompt sales of servicing. The supply of MSR is coming both from older vintages with interest rates well below current rates and new production in which a lender might not want to hedge the MSR.
Cyberattacks against mortgage companies are a growing concern. Insurance can cover some of the financial losses, but premiums are spiraling out of control, some executives report.
FHFA must turn conservatorship directives into regulations before releasing the GSEs from conservatorship, according to former agency director Mark Calabria. But an explicit guarantee is unnecessary, he said.
WaFd and Ally recently threw in the mortgage towel just as mortgage demand from borrowers is expected to improve and the Trump administration is likely to ease rules for banks.
The Trump administration’s failure to name acting directors for key federal agencies leaves them either under the control of Biden appointees or without a presidentially appointed leader.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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