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 newly public mortgage lender, Guild, reported $182.1 million in net income for the third quarter while the soon-to-be listed Finance of America posted net earnings of $241.6 million.
Immediate actions by lawmakers is essential to prevent a national foreclosure crisis early next year, consumer groups believe. In a new Census Bureau survey, more than a third of the respondents said they may face foreclosure or eviction in the next two months.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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