FCC warns scammers are successfully impersonating mortgage companies; Rocket begins first phase of rebrand; household growth expected to slow; MBA expands college program; Lower acquires technology vendor; MTC increases transparency on MSR valuations; Voxtur Analytics considering a sale; automated loan mod offering.
Critics argue that, if Fannie Mae and Freddie Mac are released from conservatorship without an explicit government guarantee, MBS investors will demand wider spreads to cover the added credit risk.
Trade groups and consumer advocacy groups sent comments to FHA on a draft proposal from late November introducing a permanent loss-mitigation waterfall.
Scott Turner’s nomination hearing scheduled for next week; FHA updates draft mortgagee letter on partial claim document recording and payoff statements; Fannie Mae updates Desktop Underwriter in support of FHA and VA loan limit changes; FHA adopts Uniform Residential Loan Application for Title I loan programs; the Mortgage Bankers Association provides feedback on proposed updates to Title I manufactured housing program; FHA outlines changes on multifamily loan underwriting thresholds.
The state’s proposal to establish Community Reinvestment Act requirements for nonbank mortgage lenders was met with opposition from the Mortgage Bankers Association.
The rule mandated under the Economic Growth, Regulatory Relief and Consumer Protection Act received approval from groups representing mortgage lenders and consumer advocates. PACE lenders, meanwhile, have concerns.
Treasury and FHFA agreed on some guidelines for how the process of getting the GSEs out of conservatorship will work. But they didn’t set that process in motion.
MBA revisits complaints about a new regulation that requires the GSEs to certify that third-party service providers are compliant with FTC rules covering unfair or deceptive acts or practices.