While the staggering $2.6 trillion of refinance originations in 2020 captured most of the industry's attention, the purchase-mortgage market also hit an annual record of $1.4 trillion. (Includes five data charts.)
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Warehouse providers racked up $137.0 billion of commitments at year end, arming nonbanks with the credit they needed to make a record amount of new loans. A repeat performance in 2021? Probably not, but a good year nonetheless is expected. (Includes data chart.)
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Even though proposed state capital requirements and other standards are deeply unpopular among nonbank mortgage servicers, the CSBS said it will move ahead with its plans.
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Rohit Chopra’s nomination for director of the Consumer Financial Bureau appears to be a lock in the Senate Banking Committee. While laying out his priorities, he said the agency will not dictate housing-finance policy.
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Trade groups representing appraisers said the proposed automated valuations are really just rebranded desktop appraisals, not too dissimilar to the ones that helped crash the housing market in 2008.
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The powerful consumer regulator said extending the compliance date of the general QM final rule will give lenders more time to use the GSE “patch.”
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