Trade groups point out the irony of raising mortgage rates at a time when the Federal Reserve is spending more than $40 billion a month on agency securities in an attempt to lower the cost of buying or refinancing a loan.
At the very least, mortgage executives are hoping for a delay in the implementation date on the new refi fee promulgated by Fannie Mae and Freddie Mac.
The mortgage industry can expect more enforcement actions from the Consumer Financial Protection Bureau for the rest of the year, particularly related to fair lending issues, according to stakeholders.
HUD's delinquency report shows that 11.50% of loans in the seriously delinquent category involved DPA provided by relatives, while only 9.07% of those with DPA financed by government entities were in the seriously delinquent category.
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