While ESG factors have mattered since the 1990s, KBRA analyst Eric Thompson said questions such as whether an asset will be impacted by rising sea levels are gaining more prominence.
Industry consultants are cautioning companies to take steps to ensure their fair housing compliance teams are ready to defend an expected uptick in enforcement actions.
The latest $22 million settlement brings to an end a lawsuit accusing Wells Fargo of wrongfully denying loan modifications to borrowers who eventually lost their homes to foreclosure.
In comment letters already submitted, mortgage servicers and credit unions warned that proposed capital requirements could force some entities out of the Ginnie market and drive up the costs of loans.
If confirmed, FHA nominee Julia Gordon’s first task will be to manage borrower exits from COVID-related forbearance programs that start this fall. However, her confirmation is unlikely to happen before September.
Democrats on the Senate Banking Committee want the next FHA commissioner to revisit an Obama-era policy that keeps distressed properties out of the reach of individual home buyers.
Two waivers address concerns that requiring re-reviews of which borrowers were eligible for foreclosure prevention options could take focus away from loss-mitigation efforts.