Wells Fargo has been the top lender in total home loan production since Countrywide hit the skids in the second quarter of 2008. But Quicken took the top spot in early 2020. (Includes two data charts.)
Read More
The GSEs reportedly are in the hunt to hire special servicers to handle COVID-19-related forbearance claims. The reason: Some nonbanks may be living on borrowed time.
Read More
Mortgage bankers have been clamoring for liquidity help from the FHFA. This week, the agency delivered on the issue of the GSEs buying COVID-19-related forbearance loans, but then lenders read the fine print.
Read More
The CFPB is likely to extend the qualified-mortgage patch, but the question remains whether it will make changes to the current QM framework.
Read More
Economists at Fannie and Freddie are “relatively optimistic” about mortgage originations in 2020, despite the economic impact of COVID-19. But not if social distancing remains in place beyond May.
Read More
Regulators have acknowledged that the lack of legal clarity and the speedy implementation of the new forbearance requirements may set the stage for exploitation by unscrupulous or ill-informed servicers.
Read More
Temporary prohibitions imposed by Pennsylvania could shutdown mortgage originations, the MBA warned. Meanwhile, the trade group noted that servicing standards set by Washington, DC, differ from federal ones.
Read More
VA mortgage companies are gearing up for an increase in purchases as lock-down orders for military personnel will be lifted starting June 30.
Read More