Under the new language, a loan meets the general QM definition if its annual percentage rate exceeds the average prime offer rate (APOR) for a comparable transaction by less than 2.25 percentage points.
The delinquency rate on commercial MBS in November slipped modestly thanks to continued COVID-related relief. The recovery ahead will be slow, particularly for the lodging and retail sectors.
Justice Stephen Breyer raised eyebrows by characterizing the net worth sweep as a nationalization of the enterprises. “That’s what they did,” he said. “If you look at their giving the net worth to Treasury, it’s nationalizing the company.”
A revival could be underway in bulk MSR sales but the real fireworks may come in the first quarter of 2021. Pricing? It’s headed north, at least for GSE product.
She’s not a brain surgeon, but a Democratic legislator from the Rust Belt. Midweek, Joe Biden revealed Rep. Marcia Fudge as his pick for Housing secretary.
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