With Wells Fargo being less aggressive these days, mortgage competitors feel emboldened to make offers to its best and brightest. A temporary situation?
Democrats on the Senate Banking Committee are putting pressure on FHFA to answer whether the GSEs’ NPL sales impact homeowners’ access to foreclosure and forbearance protections under the CARES Act.
State regulators launched a “networked supervision” exam system in March, aiming to improve the exam process for nonbanks. Some 35 regulators are using the system, with mixed results.
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.
A proposal by state regulators to set standards for nonbank servicers was met with harsh criticism from many trade groups and industry analysts. The comment period for the proposal closed at the end of 2020.
The task force said Congress should authorize the bureau to issue federal licenses to non-depositories that provide lending services. But any proposal to preempt state licensing laws will face significant pushback.
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