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Housing Provisions in the American Rescue Plan

February 18, 2021
Dennis Hollier
The bill includes more than $10 billion in homeowner assistance funding. The vast majority of that would go toward helping borrowers pay their mortgages, property taxes, home insurance and utilities.
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Grapevine: Rising 10-Year; GSEs Still Expanding Their Workforce

February 18, 2021
Paul Muolo
Treasury yields continue to rise. Will mortgage rates follow? Meanwhile, Fannie and Freddie lament the competition for top talent.
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A Tale of Two Nonbanks: New Residential and Ocwen

February 11, 2021
Dennis Hollier
New Residential posted a net income of $68.6 million in the fourth quarter; Ocwen continued its losing streak, coming up $7 million in the red.
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Delinquencies Decline in 4Q20, Forbearance Rate Nearly Stagnant

February 11, 2021
Brandon Ivey
Mortgage performance improved across the board during the fourth quarter. However, the forbearance rate has been stagnant since November, leading to concerns about foreclosures when moratoriums on such actions are lifted. (Includes data chart.)
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Nonbank Lenders Turning Focus to Wholesale-Brokers

February 11, 2021
Brandon Ivey
Besides being fun to watch, Super Bowl commercials give a peek into what businesses are thinking. This year’s big game had ads from Quicken Loans and United Wholesale Mortgage.
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Senate Dems Reintroduce $75B Homeowner Assistance Fund

February 11, 2021
Dennis Hollier
With Democrats in control of Congress, Sens. Jack Reed, Sherrod Brown and Patrick Leahy have reintroduced a 2020 bill with an eye toward including some of its language in the American Rescue Plan.
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As New Chairman Takes Over, NCUA Proposal on MSRs in Doubt

February 4, 2021
Brandon Ivey
The NCUA board in December voted 2-1 to allow federal credit unions to acquire MSRs from other FCUs. The lone dissenting vote came from Todd Harper, who was just appointed NCUA chairman.
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As Production Slips at Wells, Its Employees Become Targets

February 4, 2021
Paul Muolo
With Wells Fargo being less aggressive these days, mortgage competitors feel emboldened to make offers to its best and brightest. A temporary situation?
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Several Mortgage Lenders Victims of Catfishing

February 4, 2021
Dennis Hollier
Mortgage companies across the country may have hired processors and underwriters based on fraudulent resumes.
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A Wave of Forbearance Plans Scheduled to End. What Now?

February 4, 2021
Brandon Ivey
Close to 25% of mortgages in forbearance plans will hit the end of their relief period in March, with more expirations in April and beyond. Problem: Many of the borrowers in forbearance are delinquent.
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