FHFA said it originally approved the purchase of forborne loans to improve liquidity in the market. On Wednesday, agency Director Mark Calabria reiterated that assertion: “Extending these COVID-19 flexibilities helps keep the mortgage market moving and borrowers safe during the pandemic.”

New residential applications fell once again. Time to worry? Hardly...

If the language goes into effect as is, the role of government entities that provide assistance could be limited...

However, FHFA made it clear the agency is not cancelling the new fee, which it says is intended to help Fannie and Freddie defray the costs associated with COVID-19 relief. The agency says those actions have conservatively cost the enterprises $6 billion...

NAR also recommends eliminating the steep 500 to 700-basis-points fee on GSE forbearance loans...

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…

The CFPB said the sweep of investigations is still ongoing, indicating that more enforcement actions might be on the way.

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 concept of a state-level CFPB was revived through a budget trailer bill on Aug. 4.

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.”