A California court last month dismissed a borrower’s attempt to bring a class-action lawsuit against Caliber Home Loans over a security breach at the nonbank lender in early 2017.
Negative equity – or even just the perception of it – is the most important determinant of default rates, according to a recent study by Collateral Analytics.
The nomination had been expected for several weeks now and paves the way – quite possibly –for limitations on GSE pilot programs, loan parameters and secondary market liquidity.
Some good news: Fannie chief economist Doug Duncan said continued strength in borrower demographics and the labor market offer hope that conditions should stabilize in 2019 and may even improve.
Tom Piercy of Incenter Mortgage Advisors: “Calabria is not an advocate for our industry – but he is also being appointed by the president, who does not want housing to falter between now and 2020.”