Servicers Face Forbearance Criticism from Democrats, Consumer Advocates July 16, 2020 Brandon Ivey Democrats and consumer advocates suggest that some servicers aren't following forbearance requirements established by the CARES Act.Read More
FHA Rulemaking Focuses on Reducing Costs, Modernization July 15, 2020 Maria Volkova In order to lower servicing costs, FHA proposed limiting required mortgagee curtailment of interest to the length of the mortgagee’s delay... Read More
The COVID Quarter: 2Q Originations Up at Wells, Down at JPM July 14, 2020 Paul Muolo Wells posted a 204 basis point held-for-sale production margin, up an impressive 96 bps from 1Q20... Read More
A Noticeable Drop in Ginnie Forbearance but ‘Buyouts’ Affect the Equation July 13, 2020 Paul Muolo The Fannie Mae/Freddie Mac measurement came in at 6.07%, down 11 bps, the fifth consecutive decline.Read More
BlackRock Reduces Position in Troubled Ocwen July 12, 2020 Paul Muolo In a public filing this spring, Ocwen listed among its risks: “our ability to maintain positive relationships with our large shareholders…”Read More
Short Takes: SCOTUS and the Conservatorship / FHFA Extends Origination Flexibilities / Freddie Expands Board July 10, 2020 Dennis Hollier
OIG Suggests CFPB Expand Nonbank Monitoring July 9, 2020 Yemeng Yang In a new report, the CFPB’s Inspector General has recommended the bureau tailor its resources to monitor institutions based on risk and expand monitoring of nonbanks.Read More
Mortgage M&A: Buyers Are Out There, but Lack Sellers July 9, 2020 Paul Muolo Potential buyers of mortgage franchises are making their intentions known. But there’s just one problem: A lack of willing sellers.Read More
Short Takes: SCOTUS Upholds Robocall Ban / Zillow Resumes Homebuying in More Markets / Foreclosure Threat Grows / Consumer Financial Protection Week July 7, 2020 Yemeng Yang The Supreme Court upheld a law banning cellphone robocalls, striking down a debt-related exception created by Congress in 2015... Read More
Fewer Borrowers in Forbearance Making Payments July 6, 2020 Brandon Ivey The share of borrowers in forbearance who continued to make monthly payments fell from around 50% in April to 25% in June.Read More