Nonbanks are under increased pressure as borrowers face skyrocketing obligations on taxes and insurance. Concurrently, there’s a risk that interest rates will decline, cutting into MSR values.
If regulators take an aggressive stance, the final capital rule could be out by May. The other option would be to re-propose the rule, which could leave the rulemaking unfinished if there’s a change in administration.
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.
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.
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.
The Mortgage Bankers Association took Treasury Secretary Janet Yellen’s remarks as an opportunity to reiterate industry concerns about the Basel III endgame proposal.
RSS