Prices have come back down to earth for mortgage servicing rights, especially for Ginnie product. But what about reverse FHA-backed MSRs? Sometime this quarter GNMA will find out as it moves to resolve its legal rights regarding RMF.
The CFPB wants to create a public registry to track nonbank financial firms that have been cited by a federal, state or local authority for unfair, deceptive or abusive acts or practices. The goal: To add sunshine to the markets and enhance regulators’ supervisory efforts.
Fewer fix-and-flip home sales are occurring these days, a negative sign for this once white-hot sector. What's more, the profit per transaction dropped to $62,000 in the third quarter. Meanwhile, remember industry veteran Bill Dallas? He may be returning to the mortgage industry for one more rodeo.
Fannie and Freddie recommend the CFPB amend the qualified mortgage rule so that more borrowers, particularly those with small-balance loans, are eligible for refinancing.
Appraisal reform and redlining were major focus areas at an annual event that highlights federal accomplishments in fair lending. The Fed, meanwhile, will release new redlining risk assessment materials, perhaps by the weekend.