The new standards mirror FHFA’s existing requirements in many ways, while extending the provisions to non-agency mortgages. CSBS also provided a few breaks to the industry.
If mortgage lenders thought g-fees might decline this fall, they may be gravely disappointed. Meanwhile, the adverse market refi fee clearly boosted Freddie Mac’s 2Q21 results.
Lenders argue that Thompson should focus on reversing unpopular policies initiated when Mark Calabria was FHFA director. They point to unvetted credit requirements and the product caps included in the PSPAs.
If Ginnie Mae hikes its capital requirement as proposed, it could reduce the number of issuer/servicers. But some nonbanks would benefit from reduced competition.
Fannie and Freddie raked in billions of dollars from the loan-level price adjustment before FHFA pulled the plug last week. Are more Calabria-era rules on the chopping block?
Fannie Mae called upon FEMA to provide improved disclosures while some industry stakeholders suggested expanding the areas subject to mandatory flood insurance.
CFPB Acting Director Dave Uejio has indicated his willingness to appear before the House Financial Services Committee to respond to Republican concerns over his actions of the past six months.
The Supreme Court dealt GSE shareholders a blow in Collins, but cases before a DC district court and the U.S. Court of Federal Claims may finally get before a jury.
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