Fannie and Freddie will no longer purchase loans that go into forbearance before delivery. They have, however, begun charging a 50-bps adverse market fee for essentially all refis.
The new standards for qualified mortgages will provide lenders more underwriting options. But how much change that will bring in product market share remains to be seen.
To meet FHFA’s new mission-driven purchase volume requirements, Freddie Mac will modify its guarantee-fee discounts for low-, very-low- and moderate-income loans.
According to the U.S. Census Bureau, 19.4% of Black borrowers missed or delayed their September mortgage payment. The University of Southern California’s Understanding America Study put the figure at just 5.9%.
Banks continued to retreat from the business of servicing home loans for other investors as nonbanks increased their MBS servicing by 6.6% in the third quarter. (Includes two data charts.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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