Recent Issue

CFPB Proposes Registry of Financial Contract Clauses

By Sasa | January 11, 2023
The Consumer Financial Protection Bureau (CFPB) has proposed a rule to establish a public registry of supervised non-banks’ terms and conditions in “take it or leave it” form contracts that claim to waive or limit consumer rights and protections, like bankruptcy rights, liability amounts, or complaint rights. In some cases, terms and conditions in non-negotiable […]
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January 10, 2023 Industry NewsLending/OriginationsMarket Trends

Wells Fargo Partners on $20M Housing Affordability Breakthrough Challenge

The Wells Fargo Foundation has expanded its commitment to housing affordability through another $20 million competition with Enterprise Community Partners to find housing solutions. The second Housing Affordability Breakthrough Challenge will once again focus on three categories: Financing, Construction, and Access and Resident Support. Innovators are invited to compete for grants of up to $3 […]
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January 10, 2023 Industry News

Ranking 2022’s Top Luxury and Investment Home Markets

Pacaso, a real estate platform that helps people buy and co-own a luxury second home and/or investment property, has released a report identifying the top 10 luxury second home markets across the U.S. in 2022. For the study, Pacaso analyzed second home mortgage rate lock data, an indicator of second home buying activity, revealing revealed […]
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January 9, 2023 Industry News

OCC Delivers State of the Federal Banking System in Annual Report

The Office of the Comptroller of the Currency (OCC) has published its 2022 Annual Report, which provides Congress with an overview of the condition of the federal banking system, discusses the OCC’s strategic priorities and initiatives, and shares the OCC’s financial management and condition. The OCCs Annual Report highlights the OCC’s work to foster and […]
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January 6, 2023 Default ServicingGovernmentIndustry News

FHFA Releases 2023 Scorecard for the GSEs and Common Securitization Solutions

The Federal Housing Finance Agency (FHFA) has released the 2023 Scorecard for Fannie Mae and Freddie Mac, and their joint venture, Common Securitization Solutions, LLC (CSS). The FHFA releases an annual Scorecard to communicate and provide public awareness of its priorities and expectations for the GSEs and CSS. The 2023 Scorecard focuses on specific goals […]
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January 6, 2023 Industry NewsMarket Trends

Pending Sales Drop to Levels Last Seen in 2015

Pending U.S. home sales dropped 32% year-over-year to their lowest level since at least 2015 during the four weeks ending January 1, according to a new report from Redfin. Some of the largest declines were found in the pandemic homebuying hotspots of Las Vegas, Phoenix, and Austin, which each saw pending sales plummet more than […]
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January 6, 2023 Industry News

Deephaven Adds Tyler Bohn as Managing Director, National Accounts

Deephaven Mortgage has tapped long-time business development leader Tyler Bohn for the role of Managing Director, National Accounts. Based in Fullerton, California, Bohn joins Deephaven with more than a decade of senior-level experience in the mortgage industry, most recently with Solidifi, and previously with Incenter and First American Mortgage Solutions. In his new role with […]
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January 5, 2023 Industry NewsMarket Trends

Examining 2023 Housing and Economic Predictions

The year 2022 was full of financial hurdles for many, with economic uncertainty and a volatile housing market, resulting in many homebuyers and homeowners struggling to purchase a home or keep up with monthly mortgage payments. The positives worth celebrating in 2022 included the nation’s robust job market and the continued recovery from the COVID-19 […]
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January 5, 2023 Market Trends

Putting 2022’s Housing Market Trends Under the Microscope

CoreLogic, a global property information, analytics, and data-enabled solutions provider, has released its major U.S. housing trends wrap-up for 2022. Year-over-year, CoreLogic reported that home price growth increased for the 130th straight month in November, but gains have slowed significantly since the spring. Still, most homeowners were in positive-equity territory throughout the first three quarters […]
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Year Kicks Off With Slight Rise in Refi Apps

By Sasa | January 11, 2023
For the start of 2023, Mortgage Bankers Association (MBA) reported that overall mortgage application volume rose 1.2% week-over-week for the week ending January 6, 2023. The MBA’s Refinance Index increased 5% from the previous week, and was 86% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one […]
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