NewtekOne is boosting originations of small business loans outside of the SBA 7(a) program. The firm recently issued its second ABS of the loans, offering strong yields for issuers and investors.
Cenlar remains the dominant mortgage subservicer in the nation despite being sanctioned by banking regulators almost three years ago. When might those sanctions be lifted? That’s hard to say.
Lenders and servicers have made significant investments in recapture capabilities in recent years for when interest rates decline and refinancing takes flight.
Certain mortgage companies are starting to feel bullish about lower interest rates, predicting better times ahead and more hiring by lenders. So far this year, personnel counts at nonbank mortgage companies have been weak, in aggregate, but loan brokers are adding to their ranks.
Mortgage servicers should consider factors specific to borrowers’ circumstances when offering loss-mitigation options to avoid foreclosure, according to a recent Mortgage Bankers Association report.
Senate fails to move tax bill, which included changes to LIHTC; GSEs, FHA extend compliance deadline for ROV requirements; Treasury pushes FHLBanks on affordable housing; Morningstar concerned that market sell-off will become a self-fulfilling prophecy; loanDepot sets money aside for settlement related to a cyberattack.
With the presidential election around the corner, FHA Commissioner Julia Gordon said her goal is to ensure she leaves FHA stronger than she found it. A Republican-appointed FHA commissioner also voiced support for the agency at a recent event to celebrate FHA’s 90th anniversary.
The final rule has its roots in a pandemic-era temporary partial waiver of the face-to-face meeting requirement. That waiver will remain in place through the end of the year.
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