Bulk servicing sales are beginning to catch fire. Credit: rising rates and slower prepayment speeds. Moreover, dealmakers anticipate a red-hot third quarter for transactions.
Industry trade groups want the final rule to include clear exceptions to the moratorium provisions, clarify the scope of the streamlined modification exemption and streamline proposed early intervention requirements.
GSE regulator Sandra Thompson: “FHFA has nothing against big players, but their size means that they don’t have to worry about accessing the capital markets. Small lenders, on the other hand, may be able to leverage local knowledge to best serve their communities.”
Two separate bills aim to improve the mortgage process for borrowers who have a limited proficiency of English and to combat discrimination in the consumer marketplace.
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