The top-line originations number held steady compared with the fourth quarter while movements in the mortgage market occurred beneath the surface. United Wholesale Mortgage regained its position as the largest lender in the first quarter.
The CFPB this week issued a report regarding numerous “junk fees” charged by mortgage servicers. The servicers were generally ordered to refund the fees and change their practices.
The two resignations in less than two months and in a presidential election year have created some uncertainty over the future of other political appointees in the federal housing sector.
Workers across industries, including mortgage companies, had sent FTC comments describing how noncompetes compel them to endure jobs with poor working conditions. The MBA and other trade groups oppose the rule.
Potential homebuyers are showing stronger demand for mortgages than they were a year ago, even though interest rates are higher now. Economists at Fannie Mae revised their projections for mortgage originations upward last week.
Lenders, servicers and others in the housing market should work together to educate consumers on the financial impact of climate change, according to participants at a conference last week.
The bills with endorsements from the MBA marked up by a House committee didn’t garner support from Democrats, making it unlikely that they’ll be signed into law during the Biden administration.
The current loss-mitigation waterfall has dramatically reduced foreclosure liquidations, suggesting lenders could make more loans to riskier borrowers without increasing expected losses.
Refinance volume was up across the board in first-quarter agency business, but the sharp spike in VA activity caught the most attention. (Includes three data tables.)