Two Harbors Investment is buying RoundPoint Servicing from Freedom Mortgage, paying the tangible net book value of RoundPoint plus a premium of $10.5 million.

A recent paper published by the Federal Reserve in June found including purchases of low- to moderate-income loans in a bank’s Community Reinvestment Act lending test benefited banks’ rating but didn’t increase the flow of mortgage credit to low- to moderate-income communities.

Sprout Mortgage, a non-QM lender, had a $10 million tax liability with the Internal Revenue Service when it closed its doors in July, according to interviews by Inside Mortgage Finance and supporting documents.

Declining originations and margin cut into mortgage-related earnings at 24 key lenders.

USDA’s Rural Housing Service will propose rules to grant “delegated lenders” in its Single-Family Housing Guaranteed Loan program the authority to make loans using automated loan underwriting and closing systems.

These new placeholder certificates are expected to become the primary way to purchase the A-M and A-2 classes of Freddie K-deals.

Depositories had 43.0% of Fannie Mae and Freddie Mac servicing in the second quarter of 2022.

The Urban Institute said pandemic-related forbearances appear to have greatly benefitted consumers.

Recent nonbank closures don't necessarily exemplify wider threats to the mortgage industry, several interviewees told Inside Mortgage Finance.

A federal appeals court recently held that mortgage servicers must comply with both the Truth in Lending Act and the Fair Debt Collection Practices Act, rejecting an argument that one cancelled out the other.