The new Payment Supplement program will allow servicers to temporarily reduce a borrower’s monthly payment by up to 25% without modifying the mortgage’s current interest rate.
MSR buyers? The field is getting crowded and PE-backed investors continue to be aggressive. Even Guild Mortgage is open to the idea of buying, but only if the situation meets its parameters.
The Federal Home Loan Bank of San Francisco becomes the first FHLBank to allow members to use mortgage loans based on VantageScore 4.0 as collateral for advances.
As many as 88,000 individual tax identification number mortgages could be originated in a year if certain market barriers were removed, according to Urban Institute researchers.
Flagstar’s warehouse business was left unscathed by the recent loss at its parent, NYCB. However, it doesn’t take much to make a nonbank feel queasy when the unexpected happens at one of its financiers.
Facing criticisms that borrowers would intentionally default to qualify for VA’s upcoming loan-modification program, the agency noted that nearly 90% of its home loan portfolio is at a 2.5% to 3% coupon.
Buying 5% to 6% bulk MSRs in the secondary market might seem like a crazy idea given the prepayment risks involved. But the longer mortgage rates stay higher, the more it looks like a smart move.
The Homebuyers Privacy Protection Act has bipartisan support in the House. The bill, like its companion bill in the Senate, would amend the Fair Credit Reporting Act to prohibit the sale of consumers’ information without their approval.
It will be the 11th issuance of its type by loanDepot.
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