Lenders with heavy concentrations of refi loans, like Quicken and Freedom Mortgage, recorded big declines in agency business during the second quarter of 2021. (Includes two data charts.)
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Nonbank originators that have been hoarding MSRs for the past 16 months are sitting in the catbird seat. Some bids are just shy of top dollar. Time to pull the sales trigger?
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Sandra Thompson’s elevation to acting director from her role as head of housing mission and goals presaged FHFA’s new focus on fair lending practices enforcement.
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The changes: FHA has established a streamlined loan mod that servicers must offer to certain borrowers, GSE servicers have to follow the CFPB’s new standards a month earlier than intended, and Ginnie Mae and NCUA are allowing for a broader range of loan mods.
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For the first time since QM standards took effect in early 2014, lenders can no longer rely on the government-sponsored enterprises to obtain QM status for a loan.
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