The VA home loan program surged past the FHA in new business in 2020. Thanks to its rapid-refi option, the VA also took market share away from private MIs. (Includes three data charts.)
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State regulators in 2021 plan to establish a streamlined examination process for nonbanks, as well as string together standards for servicers.
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The Consumer Financial Protection Bureau plans to propose a rule to delay the mandatory start date of the general QM final rule. The agency is also considering revisiting the new seasoned QM rule via rulemaking.
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Of the lenders analyzed by hedge advisory firm MCT, 25% will be directly impacted by the $1.5 billion cap on the amount of loans Freddie and Fannie can purchase from each seller over any four-quarter period.
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Several trade groups are urging the FHA to adopt identical compliance aid language used in other federal agency regulations when allowing private flood coverage as an option for single-family insured loans.
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The co-inventor of the MBS says Fannie and Freddie should be regulated as utilities to improve their affordable housing and racial equity activities. He recommends Treasury use its equity to fund joint venture.
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