In a review of the Federal Home Loan Bank system, the Federal Housing Finance Agency riled some mortgage industry participants by failing to endorse expanding FHLBank membership to include nonbanks.
New guidance from the Financial Stability Oversight Council makes it easier for FSOC to increase regulatory requirements for large nonbank financial companies. The move doesn’t sit well with the mortgage industry.
Mr. Cooper net income up in 3Q23; MBA reports mortgage applications down week-over-week; Redfin reports more homebuyers are moving out of state; Finance of America expands new reverse mortgage program to direct-to-consumer and wholesale channel.
Officials from FHA, VA and USDA spoke about their plans to promote affordable homeownership at the Mortgage Bankers Association’s annual convention this week.
FHA Commissioner Julia Gordon this week returned to her hometown of Philadelphia to address attendees at the Mortgage Bankers Association’s annual convention.
Industry trade groups have sent letters to the Federal Reserve chair, asking for an end to its quantitative tightening and rate hikes in an effort to reduce mortgage rates and stimulate home sales.
Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.
Mark Jones, 2024 chairman of the Mortgage Bankers Association, sympathized with lenders who are going through the uncertainties of a steep market downturn.