It’s been a quiet year for mortgage-related M&A. (Credit the pandemic and the resulting refi boom.) Meanwhile, some ponder what a normal origination year might look like.
The payment deferral option will go a long way in providing a much more seamless way for borrowers to get back on track in paying their mortgages, according to the CEOs of Fannie and Freddie.
A new rule proposed by the FHFA this week would ensure Fannie Mae and Freddie Mac “stay focused on their core mission and do not stray into business the market already serves well” after they exit conservatorship.
The qualified-mortgage patch will stay in place until the “mandatory compliance date” for the new general QM definition, which the bureau is still working to finalize.
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.
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