Significant gaps found The OIG’s report highlighted several critical gaps in the FHFA’s current supervisory framework. Notably, the agency has yet to issue formal guidance on how FHLBanks should manage collateral subordination practices to facilitate member banks’ access to the Federal Reserve’s discount window. Additionally, the FHFA lacks written protocols to guide coordination with other … [Read more…]
Dave Liniger, chairman of the board at RE/MAX Holdings, expressed confidence in Raffaeli’s ability to contribute to the company’s growth. “[Cathi] has an impressive track record of driving growth and leading organizations. Her diverse experience and strategic insight align perfectly with our goals, and we are excited to welcome her to the team,” Liniger said. … [Read more…]
While the so-called mortgage “lock-in” effect has seen many homeowners decide to stay in place because of their current low mortgage rate, rather than list their property and face much higher borrowing costs with a new mortgage, that trend could be easing. NAR’s chief economist Lawrence Yun told reporters after the release of the latest … [Read more…]
The report also identified a few positive trends for prospective homebuyers. Active listings have increased by 13.7% year-over-year, providing more options for buyers. Additionally, the share of homes sold above asking price fell to 33.2%, down from 38.2% a year earlier. Despite this, the housing market remains challenging, with the typical home spending 34 days … [Read more…]
Zillow chief economist Skylar Olsen noted, “If this relief from mortgage rates continues, we should see more buyers restarting their hunt for a home.” Olsen added that while rate locks among homeowners are easing, they may not be as motivated to sell, given the still-low inventory. This could lead to increased competition and sales as … [Read more…]
“Applications were lower last week, led by a 15% decrease in refinance activity despite the 30-year fixed mortgage rate declining for the third consecutive week,” Kan said. He noted that refinance applications, though lower, were 23% higher than a month ago, and recent weeks have shown the strongest readings since 2022. FHA refinance applications, however, … [Read more…]
Hutchens, who has been with Angel Oak for over a decade, will now lead the company’s overall strategy and growth initiatives. “It’s an honor to step into this new role at the firm and play a bigger part in driving all facets of Angel Oak Mortgage Solutions,” Hutchens commented. “I’m excited to dive into this … [Read more…]
Facing industry resistance and regulatory uncertainty The capital plan, originally drafted in July 2023 by the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), called for a 16% increase in the capital banks must hold as a buffer against financial shocks. However, the Fed later … [Read more…]
“Corporations can only bear higher rates for so long. People, if their incomes are not increasing to keep up with higher costs… will eventually run out of money and run out of credit card availability, and that just changes the whole thing.” When will the housing market heat up? The recent downturn in rates could … [Read more…]
Jackie Menhennick will lead the Marquette office as the mortgage loan originator and operations manager. She brings over 30 years of experience in mortgage lending and management. The company said she would be tasked with assisting clients efficiently through the mortgage process. Motto Mortgage Express offers various loan options including Conventional, FHA, VA, USDA, and … [Read more…]