Wells Fargo could clean up as a seller of mortgage servicing rights (if it wanted to) but a new round of sanctions is clouding its future in residential finance.
Trade groups criticize funding mechanisms of Biden plans to promote affordable housing and fair lending while also saying the blueprints aren’t ambitious enough.
With the Centers for Disease Control and Prevention no longer able to offer eviction protection to delinquent renters, the speculation now is whether the housing finance agencies will institute a moratorium of their own.
The plans will focus on reducing the racial and ethnic homeownership gap and helping to mitigate underinvestment and undervaluation in previously redlined neighborhoods.
Following the recent coordinated action by federal agencies against Cadence Bank for redlining, compliance attorneys have suggested now is not the time for mortgage companies to let their guard down.
A risk-based capital regime could be in the works for Fannie and Freddie, though some GSE watchers suggest the whole exercise could be in flux. Meanwhile, Wells Fargo has a new servicing chief, Ann Thorn from Caliber Home Loans.
As the pandemic meanders on, state regulators are following the lead of employers and adopting agile workplace policies, including changing branch licensing requirements.
Despite protests that existing yield maintenance protects investors from prepayment risk on agency CMBS, FHFA directed the Federal Home Loan Banks to limit their exposure.