The former Freddie executive said eliminating mortgage servicing rights, or transferring them to the GSEs, would eliminate the need for nonbank mortgage servicers to make servicing advances on delinquent loans.
MGIC saw a significant gain in market share during the third quarter, but private MIs overall lost ground to FHA and VA due to surging refinance activity. (Includes four data tables.)
The delinquency rate on mortgages has been on the upswing this year, reaching 3.61% at the end of September, according to the Inside Mortgage Finance Large Servicer Delinquency Index. (Includes data tables.)
President-Elect Donald Trump is expected to replace Rohit Chopra as CFPB director. It’s not year clear how the Trump administration plans to handle mortgage-related efforts in progress at the CFPB.
The cost of a credit score for originations is set to increase by 41% in January. The plan prompted trade groups representing lenders to renew calls for regulators and Congress to address pricing practices for credit reporting products.
Ginnie Mae wants to give a capital break to servicers that hedge their positions and do it well. But the government guarantor might make some changes to the language first published last week.
The Trump administration and Republican leadership in both houses of Congress will likely lead to the reversal of many Biden-era fair lending and equitable finance rules and guidelines, but affordable housing is still a bipartisan issue.
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