Passive owners of mortgage servicing rights that have nothing to do with the monthly processing chores are now required to register with the Financial Institutions Division of the Ohio Department of Commerce, a change that has industry analysts and dealmakers scratching their heads.
To minimize credit risk in FHA’s forward mortgage portfolio, lenders have been ordered to manually underwrite loan applicants with low credit scores and high debt-to-income ratios. [Includes one data chart.]
The nation’s subservicing vendors ended the fourth quarter with $2.47 trillion worth of contracts on their books, a 9.8% sequential gain and a handsome 23.5% annual increase, according to figures compiled by Inside Mortgage Finance. [Includes one data chart.]
The mortgage servicing market continued to grow in the fourth quarter of 2018, with most of the gains coming in the agency market, according to a new Inside Mortgage Finance analysis. [Includes two data charts.]
Joseph Otting’s dual role as acting director of the Federal Housing Finance Agency and head of the Office of the Comptroller of the Currency puts him in a position to push hard for changes that will help create a “healthy” non-agency mortgage market, according to the Structured Finance Industry Group.
President Trump earlier this week unleashed his fiscal year 2020 budget on Washington, chockful of implications for Fannie Mae, Freddie Mac, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau.
At a hearing on Capitol Hill Tuesday, Kathy Kraninger, director of the Consumer Financial Protection Bureau, assured lawmakers that she will not disrupt the mortgage industry by abruptly terminating the so-called GSE patch.
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