Even before finding out inflation ran hotter than expected, the mortgage rate trajectory was not favorable, Freddie Mac reported. https://www.nationalmortgagenews.com/news/mortgage-rates-post-large-rise-on-strong-jobs-report
NextGenMortgage
Huntington to provide corporate mortgage asset financing
The bank has brought about mortgage industry veteran Ken Logan as senior managing director to head this new business line https://www.nationalmortgagenews.com/news/huntington-to-provide-corporate-mortgage-asset-financing
Pennymac announces a change in the C-suite
Chief capital markets officer William Chang is stepping down "to explore new opportunities within the mortgage banking sector." https://www.nationalmortgagenews.com/news/pennymac-announces-a-change-in-the-c-suite
Citizens Financial again builds up reserves to shield against office losses
For at least the fifth consecutive quarter, the Providence, Rhode Island, company increased its allowance for credit losses on general office loans, which continue to be a problem area for banks....
New York Fed: Tri State flood risk on par with Gulf Coast
Over 4 million residents in the region, both coastal and inland, face dangers similar to residents in Hurricane-weary Florida, Louisiana and Texas. https://www.nationalmortgagenews.com/news/new-york-federal-reserve-details-tri-state-flood-risk