Servicers of Ginnie product are buying delinquent FHA and VA loans out of MBS pools and now the mortgages are showing up in a different forbearance category.
One option places past-due mortgage amounts in separate junior liens of up to 30% of the outstanding. The lien is repayable when the mortgage ends, which is usually when a borrower refinances or sells their home.
If HUD implements its proposed final disparate impact rule, exceeding its authority, it could be a challenged under the Administrative Procedure Act, according to an industry attorney.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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