With Trump being a real estate developer – though that part of his career is on hold right now – it will be interesting to see if he takes a hands-on approach to reforming the GSEs...
A greater percentage of community banks are making mortgages this year than the year before, but the mortgage regulations from the CFPB continue to cause some smaller institutions to ditch that line of business, according to a new survey conducted by the Conference of State Bank Supervisors and the Federal Reserve System. Mortgage lending is still a prominent activity among the more than 600 community banks surveyed, with 1-4 family, fixed-rate lending identified by more than 80 percent of respondents as a product currently offered that would continue to be provided. “This is higher than the 76 percent reported last year and contrasts, to some extent, with the five percent of banks that last year planned to exit from or ...
Did DoJ Opine on Ocwen v. CFPB? No One’s Talking. Earlier this year, Ocwen Financial asked Judge Kenneth Marra of the U.S. District Court for the Southern District of Florida, West Palm Beach Division, to invite the U.S. attorney general to appear and participate in the company’s challenge to the constitutionality of the CFPB.... Last Call for Public Comments on TRID ‘Black Hole’ Proposal. The industry has until 11:59 p.m. Oct. 10, 2017, to submit comments to the CFPB regarding its proposal to close the “black hole” associated with the bureau’s integrated disclosure rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act....
The RNC document says the GOP “recognizes the sanctity of property rights in America,” which should warm the hearts of GSE common and junior preferred shareholders…
Fannie Mae and Freddie Mac saw a huge jump in deliveries of purchase-money mortgages during the third quarter, although the first-timer share of the market fell slightly. The two government-sponsored enterprises securitized $140.75 billion of purchase mortgages during the third quarter, an increase of 26.4 percent from the previous three-month period. Purchase loans accounted for 62.9 percent of loans sold into GSE mortgage-backed securities during ... [Includes two data charts]
There’s room for improvement in loan origination system offerings, according to a survey of 250 lenders by Strategic Mortgage Finance Group. The consulting group recently released details from its 2016 survey on lenders’ LOS. Lead generation/management was by far the lowest rated functionality within various systems. Only 4.0 percent of survey participants said the lead generation/management offered by their LOS was highly effective. “With the market shift to more purchase business, the lack ...
RSS