The new rule changes the definition of "colonia" and "rural area" to ensure more of these impoverished, predominantly Latino communities are covered under the regulation.
Secondary market analysts speaking on a dv01 panel said that as unemployment increases, borrowers with lower credit scores will see drops in performance. In auto, inflation has reduced access to credit for lower-income borrowers.
The Mortgage Industry Standards Maintenance Organization is seeking public comment through June 12 on its new data governance and management implementation resource package.
The bank liquidity crisis — although it had nothing to do with mortgages — slowed activity in the MSR sales arena. However, some buyers, including federally insured depositories, hung in there, picking up bargains.
Home Point, which once boasted a workforce of several thousand, soon will be down to a skeleton crew of 60 or so. Chances are, it will sell its servicing portfolio and call it a day. But it may not be alone on that score.
The mortgage industry has raised concerns over the cost implications of both the CFPB’s proposed repeat offender registry and its proposed registry of contract terms that nonbanks use to censor customers.
Both Fannie and Freddie made significant strides in meeting the objectives laid out in their 2022 equitable housing finance plans, according to progress reports released by the enterprises.
The nation’s second-largest residential mortgage lender based on 2022 originations has revived its conventional 1% downpayment mortgage product; FTC approaches court to stop ICE-Black Knight merger.
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