In a nutshell, retail lenders gorged on refis: Roughly 62.8% of refi loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter came through the channel...
The senators said they find it distressing that such a large fee would be introduced “with no consultation with Congress and no notice to external stakeholders.”
As one vendor put it: “Loss mitigation was behind the scenes for a while because everyone was saying that foreclosures are low and bankruptcies are stable. Well, that’s not the case anymore."
CBO, in a report that received little notice, based its estimates on a variety of assumptions about the companies’ retained earnings, capital requirements and more...
To meet the qualifications for a seasoned QM, a loan must be held by the creditor for at least 36 months after origination and have no more than two 30-day delinquencies during that time period...
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