Growth in subservicing contracts slowed a bit in the second quarter as con-tinued low interest rates took their toll. It’s anticipated that once rates in-crease, more vendors could disappear through M&A.
As most observers expected, the Treasury reform plan leaves most of the important details for Congress or the Federal Housing Finance Agency to figure out.
Recently released data from the Home Mortgage Disclosure Act included 28 new fields, such as business-purpose lending, interest-only features and credit score models.
The department has proposed implementing a “homebuyer sustainability scorecard” to measure the performance of loans to low- and moderate-income homebuyers and first-time homebuyers.
The CFPB released three policies this week to help lenders test innovative products. The bureau is also making joint efforts with at least seven state attorneys general to help improve coordination among regulators.
The government-sponsored enterprises’ shareholders are hoping the Fifth Circuit’s decision holding the FHFA structure unconstitutional means the so-called net worth sweep may be invalidated.
When originations boom, warehouse banks clean up. In the second quarter commitment authority to nonbanks increased by 13.5% overall but usage rates are nearing 70%.
While several industry participants want the CFPB to choose the spread-at-origination metric to determine QM status, Redwood Trust favors using the DTI ratio.
Will the third quarter be better than the second for originators? Looks that way. Meanwhile, mortgage M&A advisor Houlihan Lokey might wind up as one of Treasury's GSE advisors.
RSS