Many mortgage industry trade groups believe changing the mission of the Federal Home Loan Bank system is Congress’ responsibility rather than that of the FHFA.
Treasury office considers reforms for title insurance; FHFA sets tenant protections for GSE multifamily borrowers; Biden administration calls for rent control; two states slow on index change.
Researchers find that the climate-related increase in flood damage will boost the cost of subsidizing federal mortgage programs by 44% over the next 30 years. That doesn’t include the costs to homeowners, lenders, insurers or MBS investors.
The rule would require mortgage servicers to only pursue foreclosure as a last resort and increase disclosure requirements. Loss-mitigation application requirements would also be streamlined.
The Supreme Court’s decision, overturning a deference that courts have provided to regulators for 40 years, should be a relief for the mortgage industry, according to an attorney.