Refinance

Cash-out refis help drive pandemic-era mortgage boom

02/17/21

Origination volume hit a record high in 2020 as more borrowers tapped the equity in their homes and investors and second-home purchasers flocked to the market at levels unseen since before the Great Recession.

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Fannie Mae’s 2020 earnings fall due to COVID-related credit expenses

02/12/21

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

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End of refi boom could put squeeze on credit unions in 2021

12/22/20

Demand for home purchases and car loans would need to increase substantially to make up for what's expected to be a sharp drop in refinancing revenue.

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PayPal picks Optus Bank, BofA's alleged sales push, Citi's snafu: Top stories of the week

08/28/20

Why PayPal just deposited $50 million in tiny Optus Bank; ex-Bank of America employees allege 'extreme pressure' to sell credit cards; the Citi snafu may bring fresh scrutiny to custodial banks; and more from this week's most-read stories.

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Fannie and Freddie pushing COVID refi fee to December

08/25/20

The mortgage giants were criticized earlier this month for a plan to charge an "adverse market fee" to protect against losses resulting from the pandemic.

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Wells Fargo's AI, Amex's Kabbage buy, refi fee fallout: Top stories of the week

08/21/20

When customers contact Wells Fargo, its artificial intelligence system goes to work; what American Express is getting with it purchase of Kabbage; Fannie, Freddie refi fee will wipe out millions in mortgage profits; and more from this week's most-read stories.

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Refi fee will wipe out millions in mortgage profits

08/20/20

Lenders initally won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

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GSEs' new refi fee will hurt borrowers most

08/20/20

The higher charge on mortgages refinanced through Fannie Mae and Freddie Mac is supposed to cushion against a crisis but could contribute to one as the fees are passed on to struggling consumers.

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‘I’m a budget nerd’: How new FHA chief is confronting pandemic

08/17/20

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

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Fee to shield Fannie, Freddie from COVID losses draws instant backlash

08/13/20

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

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