Servicers of Ginnie product are buying delinquent FHA and VA loans out of MBS pools and now the mortgages are showing up in a different forbearance category.

The proposal aims to ensure governmental entities that participate in downpayment assistance programs do not benefit financially.

Servicers who fail to meet processing timeframes have to forfeit interest for the entire time it takes to resolve a loan in default.

The current method for calculating monthly student-loan payments results in artificially inflated debt-to-income ratios.

The extension applies to loans that were current or less than 30 days past due as of March 1 and go into default before Nov. 30.

Beginning Sept. 1, FHA lenders can submit appraisal reports and updates for FHA Single-Family Title II forward mortgages on the platform.

The underlying pool includes prime unsecured consumer loans from Lend-ingClub that were selected using machine learning.

The new regulatory category would allow non-QMs to obtain QM status as long as they meet certain performance requirements and other standards during the first three years after origination.

Mortgage firms in California may face expanded scrutiny over unfair, deceptive and abusive practices, if the proposal passes through.