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Denial Rate for Conventional-Conforming Refis Up in 2021

May 9, 2022
Sam Manas
The rejection rate on the total number of applications for conventional-conforming mortgages increased to 11.5% in 2021. (Includes data chart.)
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MBA Questions CFPB Authority to Seek Privileged Information

May 9, 2022
Sam Manas
The Mortgage Bankers Association said it has become aware of bureau examiners aggressively demanding privileged attorney-client information from nonbanks.
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Supervisory Report Finds Reg. Z Lending Violations

May 9, 2022
Sam Manas
Mortgage originators appeared to have been lax in adhering to lending practices under Regulation Z, the latest CFPB supervisory highlights report reveals.
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Bank of America Fined $10M for Illegal Garnishments

May 9, 2022
Sam Manas
The megabank is also required to refund at least $592,000 in garnishment-related fees to harmed consumers, reform its system for processing garnishments and update language in contracts with consumers.
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Other News in Brief

May 9, 2022
Sam Manas
The CFPB bans student loan debt relief firm; FDIC fines Magnolia Bank; court allows enforcement against payday lender to proceed.
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As Deliveries Decline, GSE Seller/Servicers Loosen the Credit Box

May 9, 2022
Dennis Hollier
All of the top 10 GSE sellers saw their deliveries decline both sequentially and year to date.
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MSRs Come Into Focus at Ginnie as Capital Rule Looms

May 9, 2022
Paul Muolo
The good news: MSR values are enjoying a renaissance, courtesy of rising interest rates.
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Feds Push Residential Servicers for Foreclosure Pause

May 9, 2022
Monica Hogan
Some assistance programs have paused or stopped taking new applications from mortgagors...
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Mining for Mortgages in the Metaverse: Foolishness or Something Else?

May 9, 2022
Sam Manas
Rocket Mortgage, the nation’s top originator, has information about digital real estate on its website but...
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Fannie/Freddie Earnings Reveal Capital Shortfalls

May 6, 2022
Dennis Hollier
The GSEs’ latest SEC filings reveal a combined capital shortfall of $359 billion at the end of the first quarter. But combined earnings were a healthy $8.21 billion for the quarter. (Includes data chart.)
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