Hunterbrook Capital is going after United Wholesale Mortgage, lobbing allegations and shorting stock in the nonbank; Michael Barr, vice chair for supervision at the Fed doesn’t find the rhetoric regarding bank capital requirements particularly useful; Ocwen plans to rebrand as Onity.
The Urban Institute, with funding from the National Fair Housing Alliance, has developed resources lenders can use to launch special purpose credit programs.
Originations of home equity loans declined in the fourth quarter as interest rates increased. Though HELOCs still dominate home equity production, closed-end second liens gained share in 2023. (Includes three data tables.)
The National Association of Realtors’ recent settlement could prompt a decline in the commission of a homebuyer’s real estate agent. The change could put pressure on both homebuyers and lenders.
The CFPB is looking at various closing costs, raising concerns about a lack of competition. Trade groups representing mortgage lenders stress that closing costs are adequately disclosed and well regulated.
Industry trade groups as well as analysts believe the proposed waiver pilot is purely a political gesture and will, in fact, expose borrowers and lenders to financial risk.
What does the stalled mortgage job market need? An interest rate cut by the Federal Reserve. Otherwise, limited hiring and layoffs will be the order of the day.
Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.
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