Booming refi business is generating strong profits for nonbank lender/servicers, easing concerns about liquidity. Still, some nonbank servicers are calling on the Federal Home Loan Banks for financing lines.
A few weeks back there was some hope that, perhaps, the GSE adverse market fee might get scrapped. Not so. Meanwhile, Ocwen keeps trying to turn things around.
To address capacity constraints amid the refi boom, lenders are using overtime and hiring temporary workers. One concern is that extended use of overtime reduces morale among employees.
Industry watchers said a blue wave would stall GSEs’ recapitalization and exit from conservatorship and likely send FHFA Director Mark Calabria packing.
It appears the CFPB might still look at whether referrals are being made under MSAs and whether the payments are intended to ‘disguise’ the referral arrangement.
Two major investors in Front Yard Residential have called for liquidation of the real estate investment trust due to its less than satisfactory performance during a robust housing market.
There’s plenty of evidence that housing isn’t as healthy as it appears. The most important data point is probably the increase in the rate of serious mortgage delinquencies, which reached 4.4% in the second quarter, the highest level since 2014.