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Short Takes: Mortgage Credit Continues to Tighten / CFPB’s QM Proposal Not Enough to Help Non-Agency Market / California’s Worst Wildfires / NYDFS Issues Guidance on Mortgage Registration Fees

September 11, 2020
Yemeng Yang

Mortgage credit supply in August fell to its lowest level in six year, driven by a reduction in supply from both conventional and government segments t, according to a recent tally by the Mortgage Bankers Association.


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FHA Makes it Easier to Refinance Post-Forbearance Loans

September 11, 2020
Yemeng Yang

The FHA lowered payment history requirements for borrowers with previous forbearance to refinance their loans in order to aid the housing market. The changes are for purchase and rate-term refi loans.


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Agency MBS Issuance Breaks $300B in August

September 11, 2020
John Bancroft

Fannie Mae, Freddie Mac and Ginnie Mae issued $321.83 billion of single-family MBS last month, according to an Inside MBS & ABS ranking and analysis.


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CFPB Red Flags Redlining Issues in Supervisory Activity

September 11, 2020
Yemeng Yang

The CFPB's latest supervisory highlight report demonstrated the agency's renewed interest in fair lending issues.


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QM Proposal May Not Be Enough for Non-Agency Market

September 10, 2020
Yemeng Yang
Some industry groups are concerned that the CFPB’s proposal to revise general QM standards contains unclear underwriting standards and legal uncertainties. They support the development of self-governance standards for the non-agency market.
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Wells Preps its First Non-QM MBS, Stocked With Slightly Seasoned Loans

September 10, 2020
Brandon Ivey

Loans in the first non-QM MBS from Wells have seasoned for an average of 15 months.


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Industry Not Worried About a California Mini-CFPB. Why?

September 10, 2020
Yemeng Yang
The final version of the bill exempts mortgage licensees from the expanded oversight and enforcement authority the state agency will have.
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Mortgage Bankers and Brokers Keep Adding Jobs

September 8, 2020
Paul Muolo

Loan brokerage firms have increased employment by 16.3% year-over-year...


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Accelerate, Others Snagged in CFPB's VA Dragnet

September 4, 2020
Maria Volkova

Over the past few months, the CFPB has levied formal charges against seven mortgage firms for false advertising tied to VA loans. A trend? Looks that way.


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Ginnie Mae Loans In Forbearance Inch Back Up

September 4, 2020
Maria Volkova

The forbearance rate on FHA/VA loans totaled 11.5% as of Sept. 1, according to Black Knight. MBA's reading on the category is a bit lower.


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