A final rule issued late last week by the Consumer Financial Protection Bureau will add compliance burdens for mortgage servicers, according to industry participants. It includes new requirements for loss mitigation evaluations and standards for successors in interest to deceased borrowers. “The bureau believes that the majority of the provisions in this final rule would impose, at most, minimal new compliance burdens, and in many cases would reduce the compliance burden relative to the existing rules,” the CFPB said. Jonathan Kolodziej, an associate at the law firm of Bradley Arant Boult Cummings, said...
Lenders originated home loans that included primary mortgage insurance at a hectic pace during the second quarter of 2016, according to a new Inside Mortgage Finance ranking and analysis. A whopping $196.23 billion of new mortgage originations carried private MI during the second quarter, including significant increases in both private MI and government-insured mortgage insurance. That was up 34.1 percent from the first three months of 2016, and represented the biggest quarterly total on record. Private MI posted...[Includes three data tables]
Earlier in the week, candidate Trump warmed the hearts of banking and financial services executives everywhere when he said he would propose a moratorium on all new financial regulations…
According to figures compiled by Inside The GSEs, Fifth Third doesn’t even rank among Fannie’s 40 largest customers and sells almost 70 percent of his home mortgages to Freddie Mac, based on July data.
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