The number of pandemic-induced foreclosures may not be as high as following the 2008 housing crisis due to the different nature and condition of the current economic downturn, according to industry experts.

The Consumer Financial Protection Bureau has ratified all regulatory actions taken between Jan. 4, 2012, and June 30, 2020.

The CFPB wants to base QM status on a pricing metric rather than approval by the GSEs. Most mortgages would remain QMs but some business could shift to the non-agency market.

Independent mortgage bankers heaved a sigh of relief after the Federal Housing Finance Agency said it will re-propose the minimum financial eligibility requirements for single-family seller/servicers.

The GSEs and non-agency lenders are asking self-employed borrowers to submit more documents than what was required earlier this year.

Industry stakeholders believe this is a sign the GSEs are on track to undergo their long-expected public offerings.

While overall agency delinquency rates remained significantly elevated, the number of new loans entering the 30-day late category fell sharply from April to May.

Oklahoma-based First Mortgage’s former President Ron McCord faces 24 counts of bank fraud, money laundering and making a false statement to a financial institution.

Lawmakers questioned Federal Housing Finance Agency Director Mark Calabria on a wide range of issues, including extending the timeline, and expanding the scope, of the eviction moratorium.

Forbearance requests leveled off near the end of May but the share of borrowers missing payments while in forbearance increased.