The mortgage servicing market continued to grow in the fourth quarter of 2018, with most of the gains coming in the agency market, according to a new Inside Mortgage Finance analysis. [Includes two data charts.]
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The nation’s subservicing vendors ended the fourth quarter with $2.47 trillion worth of contracts on their books, a 9.8% sequential gain and a handsome 23.5% annual increase, according to figures compiled by Inside Mortgage Finance. [Includes one data chart.]
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To minimize credit risk in FHA’s forward mortgage portfolio, lenders have been ordered to manually underwrite loan applicants with low credit scores and high debt-to-income ratios. [Includes one data chart.]
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An overhaul of the Community Reinvestment Act is gaining traction, with two more major financial regulators outlining their views and priorities.
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Passive owners of mortgage servicing rights that have nothing to do with the monthly processing chores are now required to register with the Financial Institutions Division of the Ohio Department of Commerce, a change that has industry analysts and dealmakers scratching their heads.
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Sen. Elizabeth Warren, D-MA, introduced legislation last week to make significant changes to the housing-finance market. The bill is essentially dead on arrival given the current makeup of Congress, but it signals some priorities for Democrats as they look to win elections in 2020.
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