Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.

Mark Jones, 2024 chairman of the Mortgage Bankers Association, sympathized with lenders who are going through the uncertainties of a steep market downturn.

The proposed capital rule would not only push banks to rethink their mortgage activity, it would also concentrate a lot of lending power on Wall Street, according to panelists at the MBA’s annual convention.

Protecting customer relationships should be increasingly important for servicers now as the connections will be valuable when interest rates eventually drop, said panelists at the MBA’s annual convention.

Third-quarter results from the publicly traded megabanks have arrived. The mortgage read: mostly lower originations, but higher MSR marks.

A joint statement from the Consumer Financial Protection Bureau and Department of Justice said some uses of immigration status in credit decisioning may be prohibited by the Equal Credit Opportunity Act.

The bureau alleges Freedom Mortgage submitted 2020 Home Mortgage Disclosure Act data that was riddled with errors, demonstrating insufficient improvements after a 2019 consent order.

Lenders should pay attention to state location reporting requirements, emphasize documenting borrower communications and report changes in mortgage loan officer work locations, according to analysts.

In an advisory opinion, the bureau nudged large banks and credit unions to provide consumers with complete and accurate account information when requested, without “unreasonably impeding” the consumer’s access, including charging fees for requests.

The CFPB and Department of Justice warned lenders against using immigration status as a proxy for a protected characteristic.