With consumer demand peaking at historic levels in the fourth quarter, the share of higher-risk loans sold to Fannie and Freddie continued to decline. (Includes two data charts.)
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Private mortgage insurance provided most of the coverage for purchase loans securitized in the fourth quarter, while VA was the top guarantor of agency refi loans. (Includes data chart.)
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It’s too early to tell if the foreclosures have been avoided altogether or just pushed further into the future, a Federal Reserve economist said.
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The commission’s recent settlement with Ascension Data & Analytics shows the FTC, like other federal agencies, is increasing its focus on vendors and third-party firms.
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Though the merger has not been explicitly canceled, Genworth said it will begin to pursue contingency measures, including a partial IPO of its mortgage insurance business.
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Industry watchers believe mortgage servicers have a lot on their plate this year in terms of compliance with CARES Act forbearance, state-level relief guidance and limitations on foreclosures.
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The proposed legislation will stop servicers from advancing a foreclosure while a borrower is in the process of receiving a loan modification.
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