Newly-released minutes from the Fed’s meeting in March indicate that the Fed is ready to slow the pace of Treasury runoff while maintaining the already slow pace of MBS runoff.
A district court judge threw out parts of a lawsuit against Ginnie Mae for canceling Texas Capital Bank’s first-priority lien on a loan portfolio of Reverse Mortgage Funding but allowed a key challenge to go ahead.
The use of discount points to lower mortgage rates has jumped in recent years as interest rates continued to climb. But the benefit of the points for the borrower is unclear, the CFPB said in a report.
The Mortgage Bankers Association and the Community Home Lenders of America are on opposite sides of the debate about allowing the GSEs to waive the requirement for lender’s title insurance.
Waiting for the Federal Reserve to cut interest rates is a bit like waiting for Godot. It seems as though a cut in rates may never come. Still, there is some improvement in volumes and margins in the non-QM sector.
These are trying times for most home lenders, thanks to a weak origination market. What to do? Keep trimming staff or tough it out? Meanwhile, some experts believe executives should start cutting their own pay.