In January, the FHFA and Treasury limited the GSEs’ purchases of mortgages for investment properties and second homes to 7% of single-family acquisitions. Implementation of the cap is hitting lenders.
Seven depository bellwethers have released mortgage origination figures for 1Q21. Overall, production increased from the fourth quarter but the devil is in the details.
Last week, word began to leak out that Caliber Home Loans was talking to New Residential Investment Corp. about a deal. Turns out, the sale chatter was true.
Though the CFPB wants to allow lenders to continue to use the patch for another 18 months, the PSPA requires Fannie and Freddie to cease buying patch loans as of July 1.
SoftBank places a $500 million bet on the digitization of residential finance by taking a stake in Better.com. Also, mortgage earnings season has begun.