The dollar volume of low-score purchase loans increased by 29.8 percent from the second to the third quarter, while total GSE purchase business went up 23.6 percent.
Acting CFPB Director Mick Mulvaney is perceived as someone who’s taking a softer touch on enforcement matters than his predecessor, but nonbank mortgage originators are still being examined at a regular clip, according to industry attorneys As for how many lenders are being examined each year, that’s a different matter. The agency, as a practice, does not disclose those figures. “We’ve had a significant number of nonbank clients get examined by the CFPB ...
The CFPB and the Federal Housing Finance Agency last week for the first time released survey results from the National Survey of Mortgage Originations, a loan-level dataset the two agencies administer jointly. The quarterly survey queries borrowers about their experiences getting a mortgage, their perceptions of the mortgage market, and future expectations among others. The data cover closed-end first-lien residential mortgages newly reported to one of the ...
S&P Global Ratings last week urged mortgage servicers to continue to follow the best practices established after the financial crisis, even as some federal regulators are adopting less assertive regulatory approaches. “While we believe the regulatory landscape has changed and that these actions offer some promising developments for servicers, this overture could still prelude some hurdles,” an S&P report said. “Since servicers have invested considerable capital ...
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