The Consumer Financial Protection Bureau may reconsider certain regulatory exemptions to its servicing rules as they pertain to small servicers, agency counsel Mitchell Hochberg said during an Inside Mortgage Finance webinar late Tuesday afternoon.
The Mortgage Bankers Association this week launched a new task force to study the future of the GSEs, naming 17 industry executives from residential finance-related firms both large and small. MBA president David Stevens told Inside Mortgage Finance that his goal to have the working group publish a final working paper on what to do with Fannie Mae and Freddie Mac by mid-year 2013. “This task force is very inclusive of the industry,” said Stevens.
New residential loan applications fell 12.3 percent for the week ending Dec. 14 with the reading on its refinancing index dropping to the lowest level in just over a month, according to new survey figures compiled by the Mortgage Bankers Association. The refi share of all new business fell to 83 percent from 84 percent the week prior. MBA vice president of research Mike Fratantoni blamed the decline on rates which rose during the second
PHH Mortgage and an affiliate have renewed a $450 million warehouse line with Wells Fargo Bank, N.A. for another year but reduced another facility it had with Barclays Bank PLC, according to a recent filing with the Securities and Exchange Commission.
Bexil American Mortgage has finally obtained its Ginnie Mae servicer approval and this week inked a deal to purchase a small nonbank lender whose identity it, so far, has not been revealed.
Freddie Mac acquired $62.5 billion of mortgages from its seller/servicers in November, its best purchase month since June 2009, according to figures released by the secondary market giant.