Servicers aren’t rushing to complete foreclosures as borrowers reach the end of their forbearance plans. The CFPB has a close eye on mortgage shops, prompting caution among industry participants.
It should be a banner year for mergers and acquisitions in the residential finance space. Already, two deals have been announced, with more likely to follow.
The recommendations from a coalition of lenders, led by the Mortgage Bankers Association, were oriented largely at reducing the burden of data collection by allowing loans to be screened out of the process more easily.
The housing community continues to search for signs of negotiations on the Build Back Better agenda, but whether the legislation will pass or how much housing funding will remain in the final version of the bill is anybody’s guess.
loanDepot’s founder is busy buying luxury homes these days. In a few weeks we’ll know how well the company did in the fourth quarter. Meanwhile, non-agency MBS production remains brisk.
Loan-level price adjustments charged by the government-sponsored enterprises for loans in high-cost areas and for second-home mortgages are set to increase this spring.
Lenders are increasingly using evaluations to determine home values rather than completing full appraisals. The evaluations carry risks for both lenders and borrowers, according to a recent report by the Government Accountability Office.
The market isn’t viewing publicly traded mortgage lenders favorably these days and that’s a problem for the one remaining IPO/SPAC candidate: Better.com.
Two nonbanks are trading accusations tied to the pilfering of staff, at least that’s how it started. Eventually, the case could be settled out of court but not before some damaging allegations get aired in public.
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