National Mortgage News

National Mortgage News is a highly regarded online platform that offers extensive information for everyone involved in the residential mortgage sector. This includes banks, nonbank lenders, service providers, brokerage firms, vendors, and regulators. Besides delivering in-depth news analysis and viewpoints, NMN brings together industry professionals to discuss important issues such as regulations, compliance, technology advancements, and strategies for loss mitigation.

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Articles

Wells shed its asset cap - but it isn't clear why

3 days ago | nationalmortgagenews.com | Kyle Campbell

In 2018, the Federal Reserve Board's total growth restriction on Wells Fargo established a new tool for dealing with large banks with broken compliance cultures. Many in and around the banking space viewed the $1.95 trillion asset cap — imposed in response to Wells Fargo's cross-selling and fake accounts scandals — as a high-water mark for regulatory enforcement, one they believed would inform how regulators administer similar penalties moving forward.
As Treasury market is poised to grow, fragilities mount

4 days ago | nationalmortgagenews.com | Kyle Campbell

For the past five years, the Treasury market has been a point of concern for financial regulators, market participants, academics and other observers. Earlier this spring, it looked to many like those fears might come to a head. On April 2, President Donald Trump rolled out new tariffs on virtually every country in the world, including prohibitively high levies against Chinese imports.
Wells Fargo sheds asset cap, ending seven years of handcuffs

4 days ago | nationalmortgagenews.com | Catherine Leffert |Kyle Campbell

This story has been updated with an analyst's comments. Wells Fargo has finally broken free from the regulatory shackles that have constricted its growth for more than seven years. The Federal Reserve announced Tuesday that it has lifted the $1.95 trillion asset cap it imposed on Wells in 2018. The cap's termination is a watershed event for a megabank long plagued by scandal, as it gains newfound flexibility to expand services and products.
Trump-era OCC eyes lighter capital rules to boost lending

4 days ago | nationalmortgagenews.com | Ebrima Sanneh

WASHINGTON — Acting Comptroller of the Currency Rodney Hood confirmed that the Trump administration plans to revise capital requirements for banks, aiming to ease what he described as excessive regulations that could constrain credit. The remarks, delivered to a crowd at the U.S. Chamber of Commerce's Capital Markets Forum, signaled a deregulatory shift focused on loosening constraints in any new rules while preserving financial stability.
Dark Matter to offer e-close capabilities through Nova LOS

4 days ago | nationalmortgagenews.com | Spencer Lee

Mortgage software provider Dark Matter Technologies is making electronic closing capabilities available on another of its loan-origination systems through a new agreement with Wolters Kluwer. The technology firm will offer e-closings on the Nova LOS platform, a system it added to its product suite alongside its primary Empower origination system in the latter half of 2024.
Dollar value of for-sale listings hits all-time high

6 days ago | nationalmortgagenews.com | Spencer Lee

The combined sum of for-sale listings on the market at the end of April hit a record, with homes both sitting on the market longer and more inventory arriving, according to a Redfin report. The total value of listings came in at $698 billion at month's end, the real estate brokerage said. The amount surged 20.3% from April 2024 to the highest dollar value since Redfin began measuring the data in 2012. The rise comes as supply also grew that month, when inventory expanded 16.7% year over year.
Fed's Waller backs change to 'dot plot' economic outlook

6 days ago | nationalmortgagenews.com | Kyle Campbell

As the Federal Reserve examines its approach to communications, one official said the central bank should consider changes to its quarterly forecasts. During an on-stage appearance at an event hosted by the Bank of Korea, Fed Gov. Christopher Waller said he would like to see reforms to the summary of economic projections, or SEP, which are produced by the Federal Open Market Committee four times a year. The next SEP is expected to be released when the FOMC meets again later this month.
Hurricane risks can raise housing costs but drive down value

6 days ago | nationalmortgagenews.com | Spencer Lee

While the threat of property damage and associated monetary losses resulting from Atlantic hurricanes is well documented, a new study puts numbers on the extent of the risk to homeowners and their communities. Climate scenarios are on the minds of home buyers, influencing where and what they buy as they consider both costs and standard of living. The choices they make will have long-term effects on communities in storm-prone areas.
Rocket's deals for Redfin, Mr. Cooper bring new growth and challenges

6 days ago | nationalmortgagenews.com | Frank Gargano

Enjoy complimentary access to top ideas and insights — selected by our editors. Market volatility under a second Trump administration was no match for Rocket Companies' appetite for mergers in the first quarter of the year, as the origination giant inked deals to acquire real estate brokerage Redfin and mega servicer Mr. Cooper. Now comes the difficult part of juggling the two deals at the same time.
Why homeownership credit cards are gaining traction

1 week ago | nationalmortgagenews.com | Maria Volkova

How many times a day does a consumer pull out their credit card to pay for gas, groceries, or to buy themselves a sweet treat on their way home? Mortgage lenders hope that putting their company names on credit cards consumers use daily will keep their brands top of mind — and lead to repeat business. Rocket Companies and Mesa, a homeownership membership platform that allows lenders to co-brand a credit card, are among a handful of companies offering financial products with homeowner perks.