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Inside Mortgage Finance

June 13, 2024

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Nonbanks Reach Market Share Milestone for Servicing

Nonbanks handled servicing on the majority of mortgages outstanding for the first time as of the first quarter of 2024. While nonbanks have been the majority servicers in the MSR market for years, the broader servicing tally includes whole loans. (Includes two data tables.) Read More

CFPB Proposal on Medical Debt Could Boost Mortgage Lending

The CFPB issued a proposed rule this week to ban medical debt from credit reports. The debt isn’t an accurate predictor of loan repayment, according to CFPB Director Rohit Chopra. Read More

Housing Policy Depends on Who Wins the White House

If former President Donald Trump is re-elected, there could be some drastic changes to the federal government’s involvement in the housing market, according to speakers at a Bipartisan Policy Center conference. Read More

Federal Reserve Holds Off on Interest Rate Cuts, Yet Again

The Federal Open Market Committee plans to hold interest rates steady until it has greater confidence inflation is heading down toward 2%. Read More

Production Chief Who Left With Staffers Faces Lawsuit

With many lenders struggling with profitability, it might seem like a waste of time and money to sue departing production managers who leave with staffers in tow. But the lawsuits keep coming. Read More

More Turbulence for loanDepot, Founder Sells Shares

While loanDepot launched a new debt-exchange program with investors, its chairman was busy selling shares in the company. Bad optics or no big deal? Read More

Lenders Struggle to Stay Ahead of Cyberattacks

Cybersecurity insurance is getting more difficult for mortgage companies to obtain and some lenders appear to be unable to meet reporting requirements set by the GSEs on security. Read More

Former Freddie CEO Plots Path to Reduce Closing Costs

The combination of the NAR settlement, better coordination between White House and FHFA, and the resurgence of the CFPB may help establish real price competition in the housing and mortgage markets. Read More

Majority of Homebuyers Don’t Shop Around for a Mortgage

A LendingTree study found that many people seek only one mortgage offer before purchasing a house. Read More

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