Agency MBS still accounted for the biggest chunk of outstanding home loans, and it's all virtually immune to refinancing. Retained whole-loan portfolios were the fastest-growing sector in the third quarter. (Includes three data charts.)
Mortgage servicing rights are still a hot commodity and new investors continue to surface, but prices aren't what they used to be. One bright spot: Credit quality looks promising, at least on conventional rights.
Fannie and Freddie recommend the CFPB amend the qualified mortgage rule so that more borrowers, particularly those with small-balance loans, are eligible for refinancing.
Most subservicing specialists have experienced tepid growth the past few quarters. The reason? A red-hot bulk sales market is one possibility. Meanwhile, a few top-ranked vendors are about to have new owners. (Includes data chart.)
Wells Fargo and housing finance trade groups expressed support for expanding access to streamlined refinances and easing barriers to forbearance options for financially struggling consumers.
In a new supervisory roundup, the bureau cited mortgage companies for violating loan originator compensation rules and charging payment-method convenience fees.
A Cleveland homeowner says Nationstar (now known as Mr. Cooper) improperly declined his COVID-related loan-modification request. Nationstar acquired the servicing rights from another company.