Some 39% of the MBS and ABS issuers who participated in a Moody’s survey said they had boosted their cybersecurity spending since 2019. But still, advanced practices remained out of reach for many issuers.
The Supreme Court heard oral arguments this week in a case challenging the constitutionality of the CFPB’s funding structure. Analysts say the bureau has a good chance of prevailing.
What are nonbanks getting for their servicing rights in the secondary market and how much of a right does Fannie Mae have to that information? Hard to say, but some factions of the industry are bristling at inquiries from the GSE.
With interest rates continuing to head north, servicing-related assets are becoming more valuable in a parched origination landscape. SLS, a large servicer, will have a new parent and other deals may be in the works.
The GSEs provided new disclosures on temporary buydowns. Borrowers most commonly take a buydown that lasts no more than two years and usage of the feature is declining amid elevated interest rates.
The stage is set for some potential buyers to be priced out, which would reduce demand and the upward pressure on prices, according to data analytics firm Attom.
Income verification services provided by the IRS could continue to operate during a government shutdown; Rocket leads the way on raising loan limits; Redfin leaves NAR.
Proposed guidance from the CFPB and other regulators on reconsiderations of value was welcomed by many industry participants. Still, consumer advocates and lenders have divergent views on the matter.
The CFPB plans to issue a proposed rule in early 2024 to revise standards for loss mitigation. Separately, rising costs for homeowners insurance are a concern.
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