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FHFA OIG Finds Use of eMortgages Up Sharply During Pandemic

September 25, 2020
Dennis Hollier
The volume of eMortgages purchased by Fannie and Freddie has grown more than fourfold since 2018, but it’s still a tiny fraction of their single-family business.
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UWM Going Public, CEO Vows 50% Share for Brokers

September 24, 2020
Paul Muolo
The nation’s largest table-funder, UWM will become a public company via a SPAC. When’s the last time a wholesale-only lender went public? Decades.
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Industry Stakeholders Back Fed’s Plan to Revisit CRA

September 24, 2020
Yemeng Yang
Under the Fed’s framework, which in many ways differs from the OCC’s final rule, a bank’s mortgage lending performance will be evaluated in two ways: a retail test and community development measurement.
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Wells Stays Out of the Correspondent Channel for Jumbos

September 24, 2020
Brandon Ivey
Wells Fargo, which exited the correspondent channel for jumbo mortgages in April, is still not sure if or when it will resume originating the product through the platform.
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Industry Against Proposed Legislation to Hike IRRRL Fees

September 24, 2020
Maria Volkova
The Mortgage Bankers Association and the National Association of Realtors have urged Congress to stop hiking VA loan-guarantee fees to offset the costs of non-housing programs involving veterans.
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A New Hiring Headache Emerges: Underwriter Costs

September 24, 2020
Paul Muolo
The origination boom has afforded mortgage bankers record volumes and profits but it has also created an unforeseen headache: underwriters asking for salaries of $150,00 or more. Plus signing bonuses.
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Three Amicus Curiae Briefs Filed in Collins v. Mnuchin

September 24, 2020
Dennis Hollier
After a mixed decision in the Fifth Circuit, it’s not clear how the SCOTUS will rule — especially with the death of Justice Ruth Bader Ginsburg last week. Oral arguments are scheduled for Dec. 9.
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Borrowers Missed as Much as $16.3B in Payments in 2Q

September 24, 2020
Brandon Ivey
More than 5 million borrowers missed mortgage payments during the second quarter, resulting in as much as $16.3 billion in missed collections.
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House Reauthorizes NFIP, Now It’s the Senate’s Turn

September 24, 2020
Maria Volkova
If the Senate doesn’t act quickly to extend the National Flood Insurance Program, the Federal Emergency Management Agency’s authority to provide new flood insurance contracts will lapse at the end of the month.
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Warehouse Bankers Pine for a Lower Risk Weighting

September 17, 2020
Paul Muolo
Even though market conditions are absolutely terrific, warehouse lenders are asking for regulatory relief on their credits. The Federal Reserve is listening, but will it swallow?
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