National Mortgage News
- Home prices in U.S. cities rise at fastest pace since 2014 January 26, 2021With Americans gobbling up homes in the suburbs, a scarce inventory of properties to purchase has met surging demand to drive up prices.
- AI tool promises to shrink cost-per-loan by monitoring employees January 26, 2021By tracking remote workers with customizable benchmarks, Grind Analytics’ new software tool increased efficiency for one of its first users, OneTrust Home Loans.
- Amerant Bancorp forms mortgage joint venture January 26, 2021Amerant Mortgage includes several former bankers from City National Bank of Florida in Miami.
- Marathon raises $900 million for asset-based loans as banks flee January 26, 2021The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday.
- Yellen wins confirmation to become first woman as Treasury chief January 25, 2021Janet Yellen was confirmed by the U.S. Senate as the country's 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.
- A large FHA premium cut could tilt market away from private insurers January 25, 2021Investor concerns about a 25 basis point reduction taking business from private insurers might be overblown, but a 50 bp cut could affect an additional 10%-15% of the low down payment market, KBW said.
- NewRez resumes non-QM lending after pandemic pause January 25, 2021The subsidiary of New Residential Investment produced nearly $400 million in non-QM volume in the first quarter of 2020 before putting a hold on the product offering in March.
- How the FSOC might single-out nonbanks for scrutiny January 25, 2021The Financial Stability Oversight Council could determine that a broad range of mortgage companies should be subject to “heightened prudential standards,” said Andrew Olmem, a partner at Mayer Brown and a former senior economic adviser to the White House.
- Hotelier burned in financial crisis loses again in pandemic bust January 25, 2021At least 25 properties that Columbia Sussex Corp. has financed with loans packaged into commercial-mortgage backed securities are in special servicing or on servicer watch lists.
- Stanford Kurland, founder of the PennyMac firms, dies at 68 January 25, 2021The former No. 2 at Countrywide had been battling brain cancer prior to passing away from the coronavirus.