A House subcommittee’s hearing this week focused on loan-level price adjustments set for the GSEs. While Republicans raised concerns with recent LLPA changes, Democrats defended the changes.
The Mortgage Bankers Association has raised concerns about GSE pricing for third-party originations in a comment letter to FHFA as the agency undertakes changes to its enterprise regulatory capital framework.
Subservicer ServiceMac stands to lose a large contract down the road once Mr. Cooper swallows the Home Point portfolio. But that’s the nature of the beast when it comes to being a third-party vendor.
The Mortgage Bankers Association has asked the CFPB to expedite changes to loss-mitigation requirements, noting that regulatory standards haven’t evolved to take into account changes in servicing practices.
Issues tied to a borrower’s debt-to-income ratio continued to remain the main reason behind both purchase mortgage and refinance denials in 2022, according to HMDA data. (Includes data chart.)
If the talks fall through, the Virginia-based bank could face charges related to imposing overdraft fees on transactions that didn’t actually cause an overdraw on customer accounts.
For the third time, a judge held that the CFPB’s claims against Ocwen Financial over alleged servicing-related violations of federal law, are barred by a 2014 consent order between the bureau and the servicer.
Banks unilaterally reopening a consumer’s deposit account to process transactions could be in violation of the Consumer Financial Protection Act, the CFPB has warned.
The proposed rule would require assessments of borrowers’ ability to repay and apply the Truth in Lending Act’s civil liability provision for violations.
RSS