Are mortgage lenders filing timely WARN Act notices?

Servicers will now have a shorter wait time to deliver reperforming loans back into Ginnie MBS, and the loans will no longer have to go into special RG pools. The changes are aimed at increasing liquidity for Ginnie issuers. (Includes data chart.)

Much like the GSEs, banks have the ability to share credit risk on a pool of assets. However, bank CRT issuance has been limited thus far as industry participants wait for an endorsement from banking regulators.

As bad as originations were this year, 2023 is projected to be worse. Purchase-mortgage business is expected to decline even as mortgage rates come down and home prices level off.

Flagstar’s margin improved to 66 basis points from 39 bps in the April-June period.

While large lenders have developed their own mortgage tech systems, smaller shops are more reliant on third-parties...

FHFA’s effort regarding fintech should ensure GSE-driven tech that could be used beyond the GSEs is developed with other uses in mind.

Implementation of Ginnie’s risk-based capital requirements delayed; Fitch downgrades ratings of Finance of America, Provident; foreclosure starts decline; new alerts in Freddie’s Loan Advisor dashboard; MISMO seeks comments on three proposals; Staircase offers MSR transfer automation; LoanCare launches HELOC servicing; new LO recruitment tool.

FHFA applies a capital treatment to banks that differs from those used by federal banking regulators. The differences could limit banks’ ability to access Federal Home Loan Bank advances.

FHFA should address the fees charged by Intercontinental Exchange for use of the firm’s loan origination system, according to the CHLA.