A survey of servicing executives by Fannie Mae found that the companies are having difficulties keeping up with forbearance requirements. Staffing capacity is also an issue.
Lenders surveyed by Altisource cited technology as one of their biggest challenges, while also selecting technology enhancements as an important factor to increase business.
Online lending platform Blend recently raised $300 million in Series G funding. Also, Goldman Sachs took an undisclosed stake in a cloud-based loan origination platform.
Researchers at the think tank focused on the presence of appraisal bias during refinancing transactions because such loans “lack an arm’s length transaction.”
The commission’s recent settlement with Ascension Data & Analytics shows the FTC, like other federal agencies, is increasing its focus on vendors and third-party firms.
Industry watchers believe mortgage servicers have a lot on their plate this year in terms of compliance with CARES Act forbearance, state-level relief guidance and limitations on foreclosures.
Profit margins in the first quarter of 2021 will decline from the fourth quarter of this year, according to a survey of mortgage executives by Fannie Mae. Executives also believe the refi boom might have peaked.
Only 18% of borrowers who refinanced during the third quarter remained with their previous lender/servicer. The reason: Competing lenders offering lower rates.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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