The CFPB recently announced its plan to review and evaluate the effectiveness of its ability-to-repay/ qualified mortgage rule, as per the requirements of the Dodd-Frank Act, and is soliciting interested parties for their input. “We are asking the public to comment on our plan, to suggest sources of data, and generally to provide information that would help with the assessment,” bureau officials said in a blog posting revealing the plan. They added that the agency views the pending review and evaluation as an opportunity. “Conducting the assessment will advance our knowledge of the benefits and costs of the key requirements of the ATR/QM rule,” said the officials. “The assessment will also provide the public with information on the mortgage lending market, ...
A few years ago, ComplianceEase was chosen to provide the technology platform that enables regulators and licensees to cooperate and share the electronic files necessary to facilitate e-exams.
Some $247.0 billion of subprime mortgages were outstanding at the end of the first quarter of 2017, according to estimates by Inside Nonconforming Markets.
Capital Alpha projects that the “emerging reform thrust” might emulate ideas promulgated by the Mortgage Bankers Association, which is adamantly opposed to recap and release.
Over the past six months, chief executive officers at three top 20-ranked mortgage firms have been replaced for varying reasons. Are more changes in store in what could turn out to be a down year for residential lending? That’s hard to say, but speculation is growing that the executive turnstiles might be spinning a little faster between now and yearend. The three companies that unveiled CEO changes are PennyMac Financial Services (Stanford Kurland departing ...
Fannie DUS Provides Additional Data for Multifamily. Fannie Mae announced the creation of DUS Disclose, a new MBS disclosure website that will enhance the transparency and increase the data available for multifamily securities in alignment with the industry. The new platform will replace the existing Multifamily Securities Locator Service and is expected to be available in the fourth quarter of 2017. Fannie Headquarters to Morph into High-End Grocer. As Fannie Mae prepares to vacate its iconic headquarters with a move to downtown Washington in 2018, plans are coming along for the soon-to-be former site of the GSE. Roadside Development announced...
The demand for single-family rental financing will likely grow, said the Urban Institute, on the heels of Fannie Mae completing its first single-family rental securitization deal with a large institutional investor. The GSE has done smaller SFR transactions but this one, a $1 billion deal with Invitation Homes, was billed as a pilot program earlier this year. The Blackstone Group subsidiary, based in Dallas, has a portfolio of about 50,000 homes acquired from foreclosures. It is the largest single-family rental operator in the U.S. These kinds of transactions are expected to increase as investors rely more on leverage to earn an acceptable rate of return, said...
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