The Senate late last week narrowly confirmed Kathy Kraninger as director of the Consumer Financial Protection Bureau. In her first public remarks, the new director set a more moderate tone for the watchdog agency than recently departed acting Director Mick Mulvaney did during his tenure.
The complaint further alleges that company executives have been aware of the poor EPD rates since 2011 but apparently did nothing to resolve the problem.
Home-equity lending remains one of the soft spots in the mortgage market, as the supply of loans outstanding continued to shrink and new lending volume remained anemic in the third quarter. [Includes three data charts.]
The White House this week finally made up its mind on a new regulator for the government-sponsored enterprises, picking conservative economist Mark Calabria to head the Federal Housing Finance Agency. Now comes the hard part: Getting the Senate to hold confirmation hearings and actually approve him.
The FHFA’s annual report underscores the amount of cross-subsidy in g-fee pricing for low-score borrowers, loans with high LTVs and cash-out refinancing.
Sellers of residential mortgages that include servicing rights are receiving premium bids these days, a situation that isn’t likely to abate anytime soon.
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