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Private MIs Lose Market Share in 1Q20; VA Program Usurps FHA

May 14, 2020
John Bancroft

New insurance written by the industry’s six active private MIs fell 13.8% from the fourth quarter, while combined FHA/VA production rose 6.2%.


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MBA Seeks Clarification on FHA COVID-19 Partial Claim

May 14, 2020
Maria Volkova
The MBA has urged FHA to clarify whether borrowers who had opted for HAMP in the past 24 months are eligible for partial claims.
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Reverse Mortgage Market Holding Up During Pandemic

May 14, 2020
Yemeng Yang
Applications for reverse mortgages shot up during the early days of the pandemic as seniors sought alternative sources of cash.
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UWM Hopes to Produce a Boatload of 2.5% FRMs

May 13, 2020
Paul Muolo

One California-based loan broker who received notification of the rollout said he plans to try the program even though he hasn’t table-funded through UWM in a while.


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As Competition Wanes, Some Nonbanks Experience a Spike in Origination Margins

May 13, 2020
Brandon Ivey

PennyMac Financial Services said margins were helped by reduced competition due to tighter underwriting standards as some firms suspended lending activities altogether...


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MorVest Explains Why the MBS Remittance Problem Isn’t Really a Problem

May 13, 2020
Paul Muolo

The result: The buildup of payoff funds dramatically reduces the P&I advance requirement...


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Redwood's CoreVest Readies First SFR MBS Since COVID Volatility Started

May 12, 2020
Brandon Ivey

Fitch and KBRA assigned preliminary AAA ratings to the new MBS. Both incorporated coronavirus-related stress measurements to their calculations...


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CFPB Fines SLS for Short-Circuiting Foreclosure Protections

May 11, 2020
Yemeng Yang

According to the CFPB, SLS failed to send evaluation notices or give ample notification time to certain borrowers who filed loss-mitigation applications...


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Mortgage Forbearance Aid Keeps Growing but at a Slower Pace

May 11, 2020
Paul Muolo

According to figures compiled by Inside Mortgage Finance, consumers owe $11.168 trillion on their first liens. If the new MBA forbearance reading is applied to that number, $883.3 billion of mortgages are in need of assistance, temporary or otherwise.


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Consumer Complaints Hit Record High in April

May 11, 2020
Yemeng Yang
When it comes to coronavirus-related complaints, more than one in five criticisms are about mortgages, according to CFPB Director Kathy Kraninger.
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