An increase in the refinance share of agency single-family business led to a decline in the correspondent channel's market share in the first quarter. (Includes two data charts.)
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A group of 21 banks reported a combined $3.75 billion in mortgage banking income for the first quarter of 2021. While that was a modest 1.7% gain from the fourth quarter, it represented a huge 63.3% gain from the first three months of last year. (Includes data chart.)
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Critics argue that the goals, as currently structured, don’t offer much assistance to low- and moderate-income borrowers or mortgagors of color.
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Remote ink notarizations made mortgage closings exceptionally convenient amid the coronavirus, though the MBA suggests that state policymakers should focus on remote online notarization, which is more secure.
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The CFPB is expected to go tough on mortgage servicers’ handling of forbearance requests and loss-mitigation options, compliance experts warned.
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If new policies that incentivize homeownership are not implemented, the Hispanic community will be the only ethnic group to experience an ownership gain.
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