The conventional-conforming market — most of which is sold to Fannie and Freddie — accounted for 70% of first-lien originations in 2020. (Includes two data charts.)
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New Residential posted a net income of $68.6 million in the fourth quarter; Ocwen continued its losing streak, coming up $7 million in the red.
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Mortgage performance improved across the board during the fourth quarter. However, the forbearance rate has been stagnant since November, leading to concerns about foreclosures when moratoriums on such actions are lifted. (Includes data chart.)
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Besides being fun to watch, Super Bowl commercials give a peek into what businesses are thinking. This year’s big game had ads from Quicken Loans and United Wholesale Mortgage.
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With the compliance date for the new QM rule fast approaching, the CFPB acting director’s statement about “exploring options” to maintain status quo with respect to QMs has many in the industry confused and anxious.
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With Democrats in control of Congress, Sens. Jack Reed, Sherrod Brown and Patrick Leahy have reintroduced a 2020 bill with an eye toward including some of its language in the American Rescue Plan.
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The IPO would involve NewRez, the unit formerly known as Shellpoint Partners. Meanwhile, Ocwen has turned to Oaktree Capital Management for a cash infusion.
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