The general consensus is that this new loan-level price adjustment will not be killed outright but very well could be moved back by at least 60 days from its current Sept. 1 implementation date. This would allow lenders facing rate-lock hits to avoid financial damage…
In a new filing with the SEC, Mr. Cooper disclosed that after accounting for a modest increase in the value of its mortgage servicing rights, the new GSE LLPA will reduce the value of the loans in its pipeline by approximately $20 million...
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...