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Other News in Brief

April 25, 2022
Sam Manas
The CFPB names banks reporting the most overdraft fee and non-sufficient fund revenue in 2021; the bureau is examining transcript withholding as a debt collection practice; complaints relating to medical bills.
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Servicing Sales (Transfers) Slow in 1Q But Still at Heightened Levels

April 25, 2022
John Bancroft
The biggest decline in bulk transfers was in the Ginnie market, where volume plummeted 27.9%...
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NAFCU Calls for Stricter FHFA Capital Requirements

April 25, 2022
Monica Hogan
The National Association of Federally Insured Credit Unions late last week called for FHFA to raise its capital ratio requirements for nonbank mortgage lenders to 10%.
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Kansas Launches Mortgage Assistance Program

April 25, 2022
Monica Hogan
Eligible homeowners in Kansas can receive up to $35,000 in mortgage assistance under the state's newly launched Kansas Homeowners Assistance Fund.
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Missing in Action: The Mortgage Industry’s Recommendations Regarding FHFA's Strategic Plan

April 25, 2022
Dennis Hollier
MBA expressed reservations about FHFA’s pursuit of examination authority over nonbank servicers, efforts to ensure a level playing field and more...
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Short Takes: Wells Fargo Layoffs / Black Knight’s New Tool / Delinquency Low / MISMO Request

April 25, 2022
Monica Hogan
Wells Fargo layoffs hit home lending division; Black Knight launches tool to confront appraisal bias; mortgage delinquencies hit record low in March; and more...
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FHFA’s New Strategic Plan Ignores Many Industry Concerns

April 25, 2022
Dennis Hollier
The agency’s finalized strategic plan is almost unchanged from the draft version, despite recommendations and criticisms from mortgage industry stakeholders.
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Nonbanks Gain More Share of GSE Servicing in First Quarter

April 22, 2022
Dennis Hollier
Megabanks topped the list of GSE servicers in the first quarter of 2022, but they continued to lose market share to nonbank servicers. (Includes two data charts.)
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More Criticism of FHFA’s Proposed Eligibility Requirements

April 22, 2022
Dennis Hollier
Early comments suggest widespread concern that the proposed increases in liquidity and capital requirements for GSE seller/servicers are unnecessary and maybe counterproductive.
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Bove: Fed Exit Threatens GSEs, Mortgage Market

April 22, 2022
Dennis Hollier
The industry veteran asks: If the GSEs lose their largest buyer, where will the money come from to support the 30-year, fixed-rate mortgage?
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