Bonnie Sinnock
NationalMortgageNews
New York, NY, United States
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Past articles by Bonnie:
FHA expands availability of pandemic loss-mitigation options
The relief previously only available to people with COVID-19 hardships has been opened up to all borrowers with imminent defaults, including non-occupants. → Read More
Black Knight adds borrower-facing collections technology
The new automation integrates with the company's customer-facing Servicing Digital software, and is aimed at helping consumers find temporary assistance with payment hardships. → Read More
MeridianLink buys OpenClose for $65 million in bid to reach more banks
Although mortgage lending has been under pressure due to rising rates, executives said they've seen "consistent demand or even increasing demand from a depository perspective." → Read More
Zombie property numbers inch up again
However, from a historical perspective, vacant pre-foreclosure homes remain "nearly extinct" heading into the fourth quarter of this year, according to Attom Data Solutions. → Read More
Credit Suisse agrees to pay $495 million in RMBS settlement
The agreement includes roughly $300 million in restitution, and a $100 million civil money penalty that will be one of the largest in New Jersey's history if it receives court approval. → Read More
Fannie Mae, Freddie Mae tweak automation around servicing procedures
Compliance is crucial in light of regulatory attention to mortgage companies' ability to provide continuity of care to distressed borrowers in particular. → Read More
Why ALTA fears title insurance alternative use could go too far
Plans rolled out by a United Wholesale Mortgage and by Fannie Mae and Freddie Mac could cut costs, but the American Land Title Association warns that the tradeoff is less protection from certain risks. → Read More
Mortgage-backed security volatility hits taper-tantrum levels
As uncertainty around global inflation has shocked the broader market, MBS have undergone some sharp one-day moves. → Read More
Some student loan forgiveness will benefit mortgages
The amounts canceled may not clear away enough debt to help all recipients immediately qualify or improve their ability to repay, but over time the savings may bolster originations and performance. → Read More
HomeStreet’s earnings come up short as it shifts gears
The Seattle-based bank underestimated single-family loan declines in the larger market but was able to improve margins slightly with cost-cutting and by diversifying with a shift toward apartment lending. → Read More
Fannie Mae, Freddie Mac should run chattel lending test now: study
The largest affordability crunch seen in years and increased secondary-market options make it more pressing and feasible to pilot financing for the lowest-cost manufactured homes, Urban Institute research suggests. → Read More
FHFA recommits to UMBS in response to concerns about new g-fee
The Federal Housing Finance Agency is moving forward with the charge but also pledged to ensure it doesn’t undermine the uniform security’s advantages the way trade groups say it could. → Read More
How one REIT investor prepares to buy MBS as Fed shrinks portfolio
Dynex Capital CEO Byron Boston sees the slow process of unwinding the Fed’s balance sheet, which officially began Wednesday, as an opportunity for his company. → Read More
Incenter puts nearly $13 billion in servicing up for bid
The portfolio of cash-flows from monthly mortgage payments is on the higher end of a wide range of deals seen in the market this year. → Read More
Pennymac plans job cuts in California
The permanent staff reductions appear to be concentrated in originations, where pretax income has been lower and outpaced by earnings generated by the servicing division, in line with broader industry trends. → Read More
Fed to raise short-term rates, shrink balance sheet
The increase is the first since 2018 and, combined with reductions in the mortgage and Treasury bond portfolio, it could drive 30-year home loan rates to 4.5% by year-end. → Read More
How Best Mortgage Companies to Work For handle continuing education
Many highly ranked mortgage firms support professional training and certifications, but they warn that they won’t support anyone who tries to game the system like some loan officers and providers have. → Read More
2022 Best Mortgage Companies to Work For
National Mortgage News presents the fourth annual rankings — a survey and awards program dedicated to recognizing the industry's best employers and providing organizations with valuable employee feedback. → Read More
ICYMI: Fannie Mae, Freddie Mac, FHA news this week
Fannie Mae reassessed origination estimates and took stock of its capital standing as the confirmation process for the FHFA’s nominee hit a roadblock and other entities released announcements about automation. → Read More
MISMO renews push for updated private-label securities standards
Efforts aimed at modernizing outdated sets of PLS mortgage information could facilitate electronic transmissions and benefit lenders looking to broaden opportunities for secondary market sales. → Read More