Wells Fargo could clean up as a seller of mortgage servicing rights (if it wanted to) but a new round of sanctions is clouding its future in residential finance.
Trade groups criticize funding mechanisms of Biden plans to promote affordable housing and fair lending while also saying the blueprints aren’t ambitious enough.
As originations go, so goes the warehouse sector. In 2Q21, commitment levels reached a new high but borrowing nonbanks are now trimming how much credit they will need for the rest of the year. (Includes data chart.)
It’s assumed that third-quarter originations will be down compared to 1Q and 2Q, but lenders remain sanguine about the short term. Also, some are finding solace in non-QM production.
With the Centers for Disease Control and Prevention no longer able to offer eviction protection to delinquent renters, the speculation now is whether the housing finance agencies will institute a moratorium of their own.