Altisource added: “We anticipate this short- to medium-term pressure on our default related businesses to continue with governmental forbearance programs and moratoriums temporarily preventing servicers from pursuing foreclosure of delinquent loans..."

Apartment dwellers must be given the “flexibility” to repay back rent over time. However, the new guidance shouldn’t be interpreted by tenants as a get-out-of-jail-free card. As FHFA Director Mark Calabria put it: “If tenants are able to pay their rent, they should continue to do so.”

Complaints regarding mortgage applications increased 25.7% in the second quarter...

In the announcement extending the policy, FHFA Director Mark Calabria offered a defense of the stiff surcharges, saying, “Lenders have a responsibility to ensure that borrowers can make their monthly payment.”

The lower readings might suggest a lack of interest in FHA/VA lending but that’s hardly the case given the continued strong production numbers…

Democratic lawmakers called on CFPB Director Kathy Kraninger to resign.

Meanwhile, the National Association of Realtors called on the agency to suspend the rule, for now...

The added cost associated with servicing a mortgage in forbearance gives servicers an incentive “not to follow the mandates of the CARES Act and implementing guidance,” investigators said.

Wade takes the helm of the government’s mortgage insurer at a tumultuous time: FHA production is strong but the COVID-19-related forbearance rate on such loans are beginning to inch up as the employment picture worsens.