The refinance business for private MIs fell 11.0% from the second to the third quarter, dropping to 30.6% of their production. Still, that’s well above historic norms...
Gripes about mortgage applications hit a historical high, jumping 29.9% sequentially to 1,609 in 3Q20. The nine-month reading registered a stunning 124.6% spike year-over-year.
On Friday, Black Knight Financial released its forbearance tally, saying the measurement declined 137,000 units for the seven-day period ending Nov. 3. Roughly 2.9 million mortgagors are in some type of COVID-related relief program or 5.45% of those with a first lien...
Names of possible successors to Kathy Kraninger include two from Sen. Elizabeth Warren’s inner circle: Rep. Katie Porter and FTC Commissioner Rohit Chopra.
However, it’s not clear whether the motivations are to disempower enforcement or rationalize the integration of enforcement and supervision. Industry watchers weigh in.
Mortgage gripes filed with the CFPB increased by 5.4% in the third quarter, driven by criticisms regarding applications and closings. (Includes two data charts.)
The CFPB by and large has agreed that marketing service agreements are permissible. Companies now need to reevaluate that payments for such partnerships are of reasonable market value.
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