The CFPB’s consumer advisory committee has more consumer advocacy representatives than it has ever had under the Trump administration. Nine out of 12 members are from the consumer advocacy world.

Community banks expressed disappointment at the proposed outline, noting that the data collection and reporting mandates will undermine their relationship-based banking model.

Industry groups recommend the CFPB amend the proposal to exempt institutions making smaller-balance HPMLs — less than $100,000.

A survey showed that a majority of homeowners who entered into some sort of COVID-19-related forbearance agreement still got dinged on their credit reports.

Even though Fannie Mae and Freddie Mac have loosened standards for property appraisals, lenders are choosing the option of using appraisal waiver programs.

Flipped houses represented 6.7% of all single-family homes and condos sold in the second quarter, down from 7.5% of all sales in the prior period. (Includes data chart.)

But that’s easier said than done. The CMBS structure prohibits borrowers from taking on additional debt and includes a prepayment penalty clause, Federal Reserve Chair Jerome Powell pointed out.

Ginnie Mae said it is ready to facilitate the creation of a single-class MBS backed by ARMs linked to the Secured Overnight Financing Rate.