The Federal Emergency Management Agency said debt for the flood insurance program is currently costing $309 million in semiannual interest payments, which could be utilized on disaster operations.

Mr. Cooper is working on an MSR fund with institutional investors, with plans for the nonbank to handle subservicing, while Rithm Capital is still planning a spinoff of its mortgage unit despite the tough market.

People’s Bank of Commerce and First National Bank of Long Island have shuttered mortgage lending businesses due to rising rates and stiffer competition from nonbanks.

Only 6% of mortgage holders who expect to stay in their current home longer than anticipated attributed the decision to their low mortgage rate.

Consumer criticisms related to mortgages declined in the third quarter of 2023, falling to the lowest level since the fourth quarter of 2011. (Includes two data tables.)

Consumer advocates are both happy with aspects of the final rule and frustrated that regulators didn’t go further. Trade groups representing banks also see the final rule as a mixed bag.

In an interview with the Mortgage Bankers Association’s president and CEO, CFPB Director Rohit Chopra confirmed that changes to the agency’s mortgage servicing rules would come in 2024.

CFPB sends credit card report to Congress; bureau fines remittance provider; Ameris Bank settles redlining charges; NMLS issues new version of Mortgage Call Report.

The GSEs’ shareholders racked up one win and one loss last week in their legal battle to overturn the net worth sweep.

Fannie Mae and Freddie Mac released details on FHFA’s new policy of extending natural disaster-related reps-and-warranty relief to mortgagees impacted by the pandemic.