The Structured Finance Association warned the CFPB's servicing proposal would decrease the value of mortgage servicing rights, leading to a substantial negative impact on the secondary mortgage market.
“After reviewing the comments and reconsidering the proposed rule’s substantive and procedural amendments, FHFA has determined that a number of material changes to the rule are necessary,” the agency said.
Democrats in the Senate are seeking new federal programs to address housing affordability while Republicans think existing programs can be more efficient.
HUD has a new Homeownership Initiative Grant, which pays participating grantees using a negotiated fixed rate for pre-purchase counseling to households that both go on to achieve homeownership and return for post-purchase counseling.
Among the top five subservicing vendors in the second quarter, volume changes compared with the end of March ranged from a 6.3% decline at Cenlar to a 4.8% increase at Mr. Cooper.
RSS