A risk-based capital regime could be in the works for Fannie and Freddie, though some GSE watchers suggest the whole exercise could be in flux. Meanwhile, Wells Fargo has a new servicing chief, Ann Thorn from Caliber Home Loans.
Subservicers have shown steady gains the past few years but they could be inundated with new work — and headaches — if COVID-related foreclosures turn ugly once the federal moratoria end. (Includes data chart.)
For servicing auctions to truly proliferate, the Federal Reserve would need to end its stimulus program. In other words, if rates don’t rise much from here, deal volume could be muted. Meanwhile, buyers with cash are waiting.
The total delinquency rate fell by 155 basis points between March and June, according to Inside Mortgage Finance’s Large Servicer Delinquency Index. Still, close to 1.5 million borrowers are more than 90 days past due. (Includes data chart.)
Even though FEMA is not directly responsible for oversight of compliance with flood insurance program requirements, the GAO has suggested Congress prompt FEMA to act.
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