Additional community development activities (loans, investments or services that support digital access, health care, small business operations and food supplies) will receive consideration for CRA credit during the pandemic.
Ditech Financial, the nation’s 10th largest subservicer last time around, disappeared from the ranking because a large chunk of the company’s business, including subservicing assignments, was sold to New Residential Investment Corp.
As New Jersey loan broker Brian Benjamin put it, “Most lenders I see now want a paystub within 30 days of closing and a verbal VOE [verification of employment] within five days of closing.”
The new “flexibilities” cover both originations and appraisals. On the origination front, Fannie and Freddie will reduce the acceptable age of income documentation on most loans to 60 days from 120...
Keefe, Bruyette & Woods said the dividend cut is in line with expectations. "However, we think investor focus remains on the company's ability to finance its non-agency MBS."
Those top GSE volume states also accounted for $1.776 trillion of GSE single-family loans outstanding at the end of last year, 37.4% of the total market.
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