Under standards established during the last days of the Trump White House, the patch was set to expire for loans with applications of July 1, 2021 and beyond.
Warehouse providers racked up $137.0 billion of commitments at year end, arming nonbanks with the credit they needed to make a record amount of new loans. A repeat performance in 2021? Probably not, but a good year nonetheless is expected. (Includes data chart.)
Meanwhile, the CFPB issued a report that warns of widespread evictions and foreclosures once “federal, state, and local pandemic protections come to an end, absent additional public and private action.”