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.
Home Point and UWM earnings reports suggest the GSEs’ new limits on cash window purchases and caps on certain mortgage products took a bite out of the profits of some larger wholesalers.
Even though FEMA is not directly responsible for oversight of compliance with flood insurance program requirements, the GAO has suggested Congress prompt FEMA to act.
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