With financial institutions set to report mortgage disclosure data collected in 2018 to the Consumer Financial Protection Bureau, attorneys are concerned that it may lead to an increase in fair lending investigations and enforcement actions by government agencies.
The Department of Veterans Affairs this week sought comment on an interim final rule amending its regulations on cash-out refinancing as part of its effort to prevent abusive lending practices that target VA loans and veteran borrowers.
Nonbank mortgage lenders continued to gain market strength in first-lien originations during the third quarter of 2018, according to an Inside Mortgage Finance ranking and analysis. [Includes two data charts.]
First, the good news: Department of Housing and Urban Development Secretary Ben Carson appears to be staying put despite recent rumors he might be up for another job in the Trump administration.
Lenders are pessimistic about the outlook on profit margins and demand for purchase mortgages and refinances, according to a survey of 212 lenders by Fannie Mae.
Varde Partners, which four years ago purchased fledgling nonprime lender Deephaven Mortgage, Charlotte, NC, is now contemplating selling the company, industry officials who claim to have knowledge of the matter told Inside Mortgage Finance this week.
The universe of home mortgage debt outstanding continued to expand gently during the third quarter of 2018, with slightly faster growth in the non-agency sector, according to a new Inside Mortgage Finance analysis and ranking. [Includes two data charts.]
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