Residential mortgage lending was down in the first quarter of 2018 in every category, according to a new analysis and ranking by Inside Mortgage Finance. [Includes two data charts.]
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Although mortgage servicing sales dipped a bit in the first quarter, it appears the second quarter is turning out to be a potential scorcher – thanks to rising interest rates and a plethora of buyers.
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The delinquency rate on residential mortgages declined in the first quarter of 2018, according to various data sources. Performance typically improves in the first quarter due to seasonal factors. [Includes one data chart.]
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By the end of this year, Fannie Mae and Freddie Mac plan to create a clearinghouse of resources such as translated mortgage documents to help borrowers who have a limited proficiency of English.
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Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, this week said the agency might make changes to the qualified-mortgage rule.
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Compliance experts are hailing last week’s announcement by the Department of Housing and Urban Development to seek comment on whether the agency’s 2013 final disparate-impact regulation is in tune with the 2015 landmark ruling by the Supreme Court of the U.S. in a disparate-impact case.
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The Trump administration appears set to name an experienced Washington regulator to take over the top post at the Consumer Financial Protection Bureau, but the process is fraught with challenges.
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