In April, the government had proposed extending the effective date of the final rules by 60 days to allow stakeholders affected by the pandemic more time to review and implement the requirements but public comments did not support an extension, the CFPB said. Most industry commenters said they would be ready to comply by Nov. 30.
Nevertheless, rumors are circulating that the Biden administration is preparing to test the legal waters by having the FHA and VA extend their REO eviction moratoriums to the end of the year. These were also scheduled to end on Saturday. If that were to happen, most observers believe FHFA would follow suit.
Flagstar's gain-on-sale margin fell to 135 basis points compared to 184 bps in 1Q21. The company also reduced the asset value of its mortgage servicing portfolio...
The stagecoach has a huge advantage, namely that it’s the largest depository owner of Ginnie servicing rights at $149.1 billion and has an extremely low cost of funds...
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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