The motion calls upon the judge to rule quickly on an Administrative Procedures Act claim involving a bank's right to reverse mortgage collateral. https://www.nationalmortgagenews.com/news/texas-capital-bank-files-new-motion-in-ginnie-mae-case
NextGenMortgage
Refi potential spreads as average borrower rates rise
Nearly one-quarter of borrowers now have a rate above 5% as households in this category grow and the number with rock-bottom financing costs slowly recedes. https://www.nationalmortgagenews.com/news/refi-potential-spreads-as-average-borrower-rates-rise
‘Hidden’ housing costs ranked as biggest stress on mortgages
Property insurance and taxes account for over one-third of current loan performance risk, according to Auction.com's recent survey of default servicing leaders. https://www.nationalmortgagenews.com/news/hidden-housing-costs-ranked-as-biggest-stress-on-mortgages
FHFA approves controversial Freddie second lien program
The move allows Freddie Mac to start purchasing certain second lien mortgages, but establishes limits on how much volume it can do. https://www.nationalmortgagenews.com/news/fhfa-approves-controversial-freddie-second-lien-program
Homebuilding supply costs surge at fastest pace in over a year
While the pace of consumer inflation is showing signs of slowing, building material costs are running counter to the trend, according to the National Association of Home Builders. https://www.nationalmortgagenews.com/news/homebuilding-supply-costs-surge-at-fastest-pace-in-over-a-year