Speaking at the MBA secondary conference, CFPB Director Rohit Chopra pushed back against the argument that credit reporting fees are distinct from junk fees. He said the term junk fee extends to fees that lack competition in the market.

Would a second Trump administration be more likely to take the GSEs out from under the government’s thumb? It didn’t work the first time around, but Biden hasn’t been interested at all.

Delinquency rates declined during the first three months of 2024, according to the Inside Mortgage Finance Large Servicer Delinquency Index. (Includes data tables.)

The CFPB is in the process of hiring 75 additional staff to help with the workload the bureau’s enforcement office is facing.

The private market is providing adequate liquidity for closed-end second liens, according to the American Bankers Association. The trade group also questioned Freddie Mac’s motivations for a proposal to acquire seconds.

Economists pick through the mortgage data to try to understand when things will get better for the industry.

A few years back, Better looked like a sure thing: It boasted state-of-the art origination technology. Today, the nonbank is bleeding red ink and dependent on a convertible note held by a Japanese multinational.

Investors are seeing value in the unsecured notes of certain large nonbanks, increasing the ability of these shops to sell new debt. Not all lenders are responding, but new deals could be in the works as long as MSR keep rising in value.

The Mortgage Bankers Association said a constitutional loss would have invalidated the bureau’s previous rules and caused severe consequences for single-family and multifamily mortgage markets.

The 7-2 court opinion, delivered by Justice Clarence Thomas, affirmed the constitutionality of the CFPB’s funding structure. The court dismissed arguments that the funding mechanism lacks a time limit and a spending cap.