The wholesale lender announced a $500 credit for borrowers seeking Fannie Mae HomePath properties. The program is one of a slew of discounts offered in the past year by lenders trying to generate volume.
Despite a rebounding travel economy, some properties are still experiencing lower net cash flow and will likely be pinched by rising rates when it comes time to refinance.
Wells Fargo and housing finance trade groups expressed support for expanding access to streamlined refinances and easing barriers to forbearance options for financially struggling consumers.
KBRA said that third-quarter MBS issuance volume didn’t meet its expectations and will drop rapidly in the coming year. Meanwhile, both DBRS and Moody’s noted that performance is stabilizing.
In a new supervisory roundup, the bureau cited mortgage companies for violating loan originator compensation rules and charging payment-method convenience fees.
The bureau, which is speeding things up to make sure the case is decided by June, says the Fifth Circuit decision contradicts the Constitution, historical practice, and case law.
LoanCare agrees to pay $4.5 million to settle a class-action suit centered on whether “convenience” fees for paying by phone or online are allowed in West Virginia. Meanwhile, the bureau is making servicers refund fees for paying by phone.