Chime Financial to pay more than $4.5 million in redress and fees; Chopra pushes for further action from FSOC on nonbank servicers; financial associations are worried about the CFPB’s potential consumer complaint survey; CFPB takes another action involving student loan ABS; CFPB sues online lending platform.
Bob Broeksmit, president and CEO of the MBA, said that if the Supreme Court had invalidated the CFPB's rules, there would have been a severe impact on the housing market.
The volume of mortgages banks service for other entities declined by 2.0% during the first quarter of 2024. Regions Bank was the only depository among the top 10 to increase its servicing. (Includes data table.)
HUD issues guidance on mortgage advertising; UWM expands title services for brokers; Freedom issues debt; Incenter offers review services for taxes and insurance; most housing inventory in Florida, Texas.
Investors can’t seem to get enough non-agency MBS. Issuance is booming and demand is expected to remain elevated thanks to the outlook for interest rates, among other factors.
Money managers added to their holdings of agency MBS for the sixth consecutive quarter as of the first quarter of 2024. That might be the peak in their investments in agency MBS, according to industry analysts.