Many potential first-time homebuyers want lenders to offer both an online loan application process and in-person services. Borrowers are looking for speed, convenience and customer service.
While the Consumer Financial Protection Bureau’s plan to extend the qualified-mortgage patch was not unexpected, its proposal to eliminate the debt-to-income threshold has sparked a debate.
The Financial Stability Oversight Council would have to complete a number of steps before it can subject nonbank lenders and servicers to increased over-sight and prudential standards.
The recent IPO of nonprime lender Velocity Financial should pave the way for other like-minded deals. Right? But not so fast. The stock market can be an unforgiving place.
Stable interest rates and seasonal trends will lead to a decline in mortgage originations in the first quarter of 2020. Lenders are taking steps to adjust to a reduction in refi business.
While industry groups argue the integrated mortgage disclosure rule is overly burdensome for lenders, consumer advocates caution the CFPB from taking any drastic steps.
Since the launch of the single security, investors have increasingly turned to the use of specified pools rather than the TBA market, said Bob Ryan, a former FHFA official and one of the architects of the UMBS.
To make sure property markets aren’t creating excessive systemic risk, it’s important for regulators to look at the issue broadly, said FHFA’s Mark Calabria. That’s where an activities-based approach is critical.
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