HUD could face challenges in ensuring that complete data is received from servicers regarding loans in forbearance, necessary for the processing of future claims.
The agreement comes at a curious time: Servicing prices have suffered during the pandemic but are beginning to improve. In other words, bargains may be hard to find.
The CFPB finalized its qualified-mortgage revisions to replace the 43% debt-to-income ratio with a pricing threshold. Meanwhile, the agency also finalized its “seasoned” QM rule allowing certain non-agency loans to become QMs if they meet performance requirements.
In the new year, the CFPB will propose changes to its loss-mitigation rules to govern how residential servicers work with borrowers affected by natural disasters and other emergencies.
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