The record-long government shutdown had little direct impact on mortgage lending and home sales, according to industry stakeholders. However, it may take a while before business processes return to normal, they said.
Several new appointees to the House Financial Services Committee are likely to focus on important issues in housing finance, particularly affordable housing and fair lending, based on their past experiences.
Two large lenders saw a decline in origination volumes in the fourth quarter because they weren’t willing to compete on price, officials at the firms said.
Comptroller of the Currency Joseph Otting has served as acting director of the Federal Housing Finance Agency for just shy of four weeks. But there’s one problem: His appointment may be illegal.
Nonbanks were the top buyers and sellers of bulk mortgage servicing portfolios last year, according to a tally from affiliate publication Inside Mortgage Trends. [Includes one data chart.]
The Trump administration pulled an about-face on reform of the government-sponsored enterprises, with the White House declaring mid-week that it will work with Congress on a legislative solution to Fannie Mae and Freddie Mac.
The complex business of servicing residential mortgages continued to become more concentrated among a diverse group of industry participants in the fourth quarter of 2018. [Includes two data charts.]
The CFPB last week fined a broker $1 for bilking veterans out of their pensions. It is the third enforcement action this month by the consumer watchdog, now led by Director Kathy Kraninger.
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