Buydowns of interest rates on mortgages continue to be a valuable tool for lenders and homebuilders looking to compete in the current high interest rate environment.
HUD is seeking feedback on a plan to make permanent COVID-era flexibilities related to face-to-face meeting requirements between delinquent borrowers and mortgage servicers.
Plaintiffs’ attorney Hamish Hume said he’s optimistic shareholders can persuade a DC jury that FHFA and the Treasury violated shareholders’ contractual rights when they agreed to implement the net worth sweep in 2012.
A proposal floated by federal regulators seeks to base capital requirements for mortgages held in portfolio at big banks on loan-to-value ratios. Banks expressed grave concerns about the proposal.
The MBA said the proposal lacks a provision for a cost-benefit analysis and dispenses with assessing the likelihood that a firm would experience material financial distress in making the designation.
A $9.9 billion fund established by the federal government to help borrowers avoid foreclosure is seeing growing use. Some $1.2 billion in funds from the Homeowner Assistance Fund were distributed in the first quarter.