Spencer Lee

New York, Seattle

Reporter @NatMortgageNews | Marathoner. Former classical music host | Social media is poison | Alum: @newmarkjschool, @Skift, @WNYC | [email protected]

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Articles

Baby boomer plans put others' homeownership goals on hold

1 week ago | nationalmortgagenews.com | Spencer Lee

Past expectations of a wave of homes to hit the market once senior citizens move out are fading, with a majority of baby boomers saying they won't sell for at least another decade — if ever. Just over one-third, or 33.5%, of baby boomers have no plans to sell their current homes in their lifetimes, according to new research from Redfin. Similarly, another 30% thought they would wait at least another decade before listing their properties.
CFPB servicing rule change raises alarm for bankers

1 week ago | nationalmortgagenews.com | Spencer Lee

The American Bankers Association voiced its concerns over a proposed Consumer Financial Protection Bureau final rule to eliminate a pandemic-era policy affecting loss-mitigation procedures that brought flexibility to servicers. While stating its support to the easing of some regulations proposed since the beginning of the second Trump term, the ABA urged the bureau to retain the anti-evasion exception the bureau's rule would remove.
Former Loandepot, Corelogic CEO accepts new leadership role

1 week ago | nationalmortgagenews.com | Spencer Lee

After stepping down from his recent leadership role at Loandepot, home finance veteran Frank Martell has taken the helm as chief executive of a multifamily technology firm that is currently navigating a difficult period. Smartrent, a provider of technology-powered tools and services for rental communities and other types of multifamily housing, appointed Martell president and CEO, effective immediately.
Realpha enters Texas market to drive national ambitions

2 weeks ago | nationalmortgagenews.com | Spencer Lee

Technology-backed real estate platform Realpha is expanding into Texas, the latest move in its attempt to establish end-to-end home buying services across the country. Already active in Florida, Realpha rolled out its platform to the Lone Star State through an agreement with national brokerage Continental Real Estate Group, allowing it to build a customer base in markets that have seen a spike in buyer interest this decade.
Home equity investment products set to soar, experts say

2 weeks ago | nationalmortgagenews.com | Spencer Lee

A "perfect storm" is paving the way for growth in home equity investment contracts, with originations and secondary market activity both on the upswing for the emerging asset class, industry leaders said this week. Tailwinds behind the product gives reason for optimism, according to Mark Ginsberg, an expert in securitized products originations at Barclays Investment Bank. "Rates remain elevated. Equity in homes keeps growing. Homeowners need a way to access that.
Trump's pick for HUD leadership role passes through Senate

2 weeks ago | nationalmortgagenews.com | Spencer Lee

The U.S. Senate approved President Donald Trump's nominee for deputy secretary at the Department of Housing and Urban Development on a party-line vote Tuesday. Andrew Hughes, a former HUD official who most recently had been serving as chief of staff to department Secretary Scott Turner, was confirmed by a vote of 51-44. All Republicans voiced their support for the nominee and Democrats uniformly against him. Five Senate members did not participate.
Foreclosures in May decrease after early-year surge

2 weeks ago | nationalmortgagenews.com | Spencer Lee

Following a steady rise in filings in the first few months of the year on the heels of federal policy changes, total foreclosure numbers eased in May, even as a key metric continued trending upward. A foreclosure filing appeared in one out of every 4,009 U.S. properties last month, representing a total of 35,498 units nationwide, according to Attom's monthly report. The total decreased 1.5% from the 36,033 homes in April with a default notice, scheduled auction or repossession filed against it.
Home buyers, sellers feel more optimistic after tariff pause

2 weeks ago | nationalmortgagenews.com | Spencer Lee

Despite increasing mortgage rates and economic volatility, the outlook among home buyers and sellers improved on both a monthly and annual basis, according to Fannie Mae's latest housing survey. The government-sponsored enterprise's monthly Home Purchase Sentiment Index increased to a reading of 73.6 in May, up from 69.2 one month earlier. May's level also rose from 69.1 on a year-over-year basis.
HELOC fraud is rising: What lenders need to know

2 weeks ago | nationalmortgagenews.com | Spencer Lee

Forged checks, false occupancy claims and scams on senior citizens are among the schemes lenders should be aware of as growing interest in home equity lending catches the attention of fraudsters. While home equity lines of credit have been available for decades, the rapid acceleration of mortgage rates over the past three years is raising the profile of the products among property owners looking for an infusion of cash.
Change Co. emerges victorious after suing ex-employee

3 weeks ago | nationalmortgagenews.com | Spencer Lee

Community development financial institution The Change Company won judgment against a firm led by its former employee, who previously sued the lender, lodging allegations of misconduct. The Anaheim, California-based parent of Change Lending filed suit in 2023 against Yeti Global Services, a company owned by its former chief of staff Adam Levine. Change accused Levine of stealing and delivering documents for Yeti that facilitated a $10 million extortion scheme against the company.