Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.
In the smoke and dust of a production collapse is the best time to be a buyer of other shops. That’s the philosophy of CMG Mortgage, now a top-20-ranked lender that should continue to climb in the league tables.
The MBA, NAHB and NAR want the Fed to announce it’s done raising interest rates and that it won’t sell MBS holdings until there’s some stability in the housing market. The request could fall on deaf ears.
The current bad times for lenders can’t last forever. Eventually, the Federal Reserve will ease credit and normalcy will return to the industry. But before we get there, more job cuts will be the order of the day.
If the National Flood Insurance Program is allowed to lapse mid-November, the impact could extend beyond single-family lending, the Congressional Research Service has warned.
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