A $9.9 billion fund established by the federal government to help borrowers avoid foreclosure is seeing growing use. Some $1.2 billion in funds from the Homeowner Assistance Fund were distributed in the first quarter.
FHFA wants the authority to suspend counterparties that have been sanctioned by other federal or state regulators. The agency argues that the outcomes of certain civil actions are analogous to criminal convictions.
The Consumer Financial Protection Bureau’s funding structure is unconstitutional, a bevy of new amicus briefs argue. But they part ways on how to remedy the problem.
FHFA could limit usage of FHLBank advances; losses narrow at Better in first quarter; home price appreciation slowing; the impact of higher interest rates on potential borrowers.
Director Rohit Chopra noted borrower hardships due to excessive paperwork, as well as fees and negative credit reporting events that occurred while a loss-mit application was under review.
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