Former FDIC board member Jonathan McKernan has been nominated to head the CFPB. Meanwhile a new acting director shut down all agency activities, spurring staff protests and lawsuits.
The rising homeowner insurance crisis could make getting affordable coverage or getting coverage at all difficult in some parts of the country and, by extension, make properties in those areas unmortgageable.
The lending affiliate of the Onity Group paused its non-agency operations in Maryland as a new state regulation requires all parties involved in the mortgage lending process to be a licensed mortgage lender.
Lenders are facing a tough market for originations, helping to prompt sales of servicing. The supply of MSR is coming both from older vintages with interest rates well below current rates and new production in which a lender might not want to hedge the MSR.
Cyberattacks against mortgage companies are a growing concern. Insurance can cover some of the financial losses, but premiums are spiraling out of control, some executives report.